News

Fannie Mae took two major steps this week in achieving its goal of increasing the role of private capital in the mortgage market through credit risk transfers in order to reduce taxpayer risk, as set forth by its conservator, the Federal Housing Finance Agency (FHFA).

The Q2 2015 net income for SunTrust was $0.89 per average common diluted share compared to $0.78 per share earned in the last quarter, and includes a $0.03 favorable impact by a per share from a discreet income tax benefit.

In both hearings, Yellen addressed the subject of the much-anticipated federal funds range increase; Thursday before the Senate Banking Committee, she reiterated that more economic improvement, particularly in the labor market, is needed along with confidence that the objective of 2 percent inflation can be met over the medium term. She said the Federal Open Market Committee (FOMC) would determine on a meeting-by-meeting basis if progress toward that goal is sufficient enough to raise the rates.

Nationwide lender for single-family rental (SFR) property investors B2R Finance announced this week that Darren Thompson has been hired as CFO and EVP of strategy.

ClosingCorp, a San Diego-based provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, recently announced a new partnership with Bills.com, the leading resource for free and personalized money help.

Steven L. Antonakes, the Consumer Financial Protection Bureau (CFPB)'s second-in-command official, announced Thursday in a memo to employees that he is stepping down from his position with the CFPB.

This sale includes two larger pools and a Community Impact Pool, which is a smaller geographically-focused, high occupancy pool. Fannie Mae is marketing the Community Impact Pool to encourage bidding by nonprofits and minority- and women-owned businesses (MWOB).

The cash sales share has declined year-over-year every month since January 2013. The share declined by 0.9 percentage points month-over-month in April, although year-over-year comparisons provide a more accurate picture for cash sales share due to seasonality in the housing market, according to CoreLogic.

"Consumer complaints are the CFPB’s compass and play a central role in everything we do. They help us identify and prioritize problems for potential action," CFPB Director Richard Cordray said. "These monthly reports will enable us to share that data with the public more regularly, so that everyone can benefit from the information."

The net income high at Goldman Sachs is mostly credited to the record first half results in Investment Banking and Investment Management. Net revenues for investment banking reached $2.02 billion for Q2, a 13 percent increase from Q2 2014 and 6 percent higher than Q1 2015.