2 minute readMonday Morning Cup of Coffee takes a look at stories on the HousingWire weekend desk, with more coverage to come on bigger issues.
Congress may be kicking the can on the FHFA’s proposal to increase g-fees on mortgages originated in the states of Connecticut, Florida, Illinois, New Jersey and New York. Analysts with Compass Point Research & Trading noted that seven Senators sent a letter to the FHFA challenging the g-fee hike on the grounds it would increase the cost of lending. But Compass Point says the response of the wider congress was somewhat muted last week, making it harder to envision the FHFA will face a big challenge on this issue.
The proposed Basel III capital standards will face public scrutiny this week as federal banking regulators, academics and banking leaders discuss the impact of imposing new capital standards on banks.
Financial institutions in the past have warned stringent standards could increase the cost of lending or force firms to forgo lending overall in some circumstances. On Thursday, the House Financial Services Committee will address the potential effects of the new Basel III capital requirement rules in its “Examining the Impact of the Proposed Rules to Implement Basel III Capital Standards” hearing.
Click here for hearing details.
Federal Reserve Chairman Ben Bernanke will face the end of his term in early 2014. With only a year left, financial publications, including Nasdaq.com, are wondering if he will be replaced by President Obama’s financial adviser Larry Summers or Janet Yellen, the current vice chair of the board of governors for the Federal Reserve System.
Or will it be someone else? What Nasdaq.com does point out is that Bernanke’s tenure as Fed chief shows him making a play for transparency, something largely avoided at the Fed in the past.
Click here to read more at Nasdaq.com
Real estate investors in states like Illinois are now rushing to rent out foreclosed properties acquired in the wake of the housing fallout. But while it’s a good sign for the market, nearby neighbors who own homes are somewhat concerned. Chicago Tribune writer Mary Ellen Podmolik points out that owners near these former foreclosures fear the renters next door will not be as committed to the long-term stability of the neighborhood.
The Federal Deposit Insurance Corp. closed no banks on Friday.
kpanchuk@housingwire.com
