Daily Dose

Some critics believe the mortgage interest deduction only benefits the wealthy, but according to Iona Harrison, Chair of the National Association of Realtors’ Federal Taxation Committee, the numbers tell a different story. Take a look at what Harrison had to say to the Senate Finance Committee during a hearing entitled ““Individual Housing Reform.”

Pamela Patenaude was officially confirmed as the Deputy Secretary of the U.S. Department of Housing and Urban Development by the U.S. Senate Thursday afternoon. This will be her second tenure at the agency.

Fannie Mae disclosed the result of its fourth reperforming loan sale recently. The deal was originally announced back on August 10, 2017, and included 10,700 loans totaling and unpaid principle balance of $2.43 billion.

Freddie Mac released a join bulletin with Fannie Mae Wednesday that updates its guidelines for standard servicing policies, which are unrelated to its special initiatives to aid those affected by the hurricanes that have ravaged the continental United States.

The U.S. Census Bureau announced new comprehensive data for dates ranging between 2015 and 2016, which shows improvements in median income, poverty and health insurance coverage.

Tim Sloan, CEO of Wells Fargo, expressed his expectation that expenses to the third-largest bank will be reduced to around 60 percent of revenue in the second half of 2017.

JPMorgan Chase President and CEO Jamie Dimon had much to say on the state of the U.S. economy at the Delivering Alpha Conference in New York City, according to a recent interview.

It’s been rumored since May that Federal Housing Administration veteran Brian Montgomery could possibly be returning to his post under the Trump administration. Now the speculations have been confirmed after President Trump announced his intent to nominate.

The National Association of Credit Unions (NACU), with the support of Representative Bill Posey (R-Florida) and Denny Heck (D-Washington) reintroduced a bill that would require the National Credit Union Association to initiate a study on capital requirements for credit unions before finalizing the final risk-based capital rule that is scheduled to go into effect on the first of January 2019.

The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled “Evaluating the Fintech Landscape” Tuesday where witnesses examined one of the fastest growing industries in the U.S.