Tag Archives: federal reserve board

CoreLogic estimates recent thunderstorm activity brought strong straight-line winds and tornadoes, causing substantial damage to property across the U.S., with areas reporting wind speeds in excess of 100 miles per hour and hail greater than four inches in diameter.

With millions of properties exposed to risks including wildfires, flooding, hurricanes, and earthquakes, the Federal Reserve Board is looking to ensure that financial institutions are appropriately managing all material risks related to climate change.

Once finalized, the combined entity will operate nearly 400 branches across nine states, and its mortgage division will operate nationally through 81 retail lending offices in 26 states, with a wholesale network of approximately 3,000 third-party originators.

Homeownership continues to serve as the primary source of wealth accumulation for most middle-class households, according to a new report.

Despite an optimistic outlook on the overall economy, Federal Reserve Chair Jerome Powell remains wary of the impact that the pandemic has had on the nation.

Where do credit standards stand according to 90 banks across the U.S. and how does this impact the demand for mortgages?

The Federal Reserve Board ordered Goldman Sachs Group to pay a civil money penalty for its unauthorized use and disclosure of confidential supervisory information and to implement an enhanced program to ensure the proper use of confidential supervisory information.

Federal bank regulatory agencies have announced the newly-adjusted asset-size thresholds that will be used to define financial institutions under Community Reinvestment Act (CRA) regulations. According to a press release from the Federal Reserve Board, the CRA requires the thresholds to be adjusted annually in order to define institutions as either small banks, small savings associations, intermediate small banks, or intermediate small savings associations for CRA examinations. These asset-size classifications determine how institutions are evaluated under different CRA examination procedures, and determine whether or not financial institutions are subject to certain reporting requirements; those that are classified small or intermediate small are not subject to the same reporting requirements as large financial institutions.

The residential mortgage loan risk retention rule, known as the "qualified residential mortgage" (QRM) rule, was approved on Wednesday by the U.S. Federal Reserve Board and the Securities and Exchange Commission (SEC), the last two of six federal agencies to approve the rule, according to the Fed.

A report released recently by the Federal Reserve Board provided evidence that the gap between the richest American families and all others is getting wider. The Survey of Consumer Finances, conducted by the Federal Reserve Board every three years, reported last week that the wealth share held by the top 3 percent totaled 54.4 percent in 2013, a number that has climbed from 51.8 percent in 2007 (before the recession) and from 44.8 percent in 1989.