Tag Archives: Government

With just hours to spare, Congress overwhelmingly approved a short-term spending bill which would prevent the weekend shutdown, avoiding potential clogs in the mortgage industry. A government shutdown would have slowed the mortgage process and even prevented some buyers from closing, as access to tax information and social security would have been halted during the shutdown. The housing market is stronger now than it was in 2013, and application volume is greater, meaning that that more buyers could have been affected.

Treasury Secretary Steven Mnuchin released the president's tax reform plan which could have a significant impact on the mortgage industry and the financial industry as a whole. Calling the tax cuts in President Trump’s reform “The biggest tax cut and largest tax reform in history of this country,” the reform would reduce corporate taxes down to 15 percent, cut the top tax bracket down to 35 percent, and double the standard deduction.

With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry. Access to tax documents and other government paperwork may prove difficult in the event of a shutdown. Furloughs at the IRS and Social Security can cause roadblocks in the application process.

With the release of the February Jobs Report showing a higher-than expected jump in employment, experts speculate what this may mean for next week’s FOMC meeting.

The proposed plan will tighten fiscal policies for public housing and could potentially eliminate federally funded community development grants.

Global financial services firm Morgan Stanley is speaking out about the Treasury’s recent announcement of another rake hike—but not in the way you’d expect. Rather than denouncing the ...

Today, Dr. Ben Carson, a retired neurosurgeon whose candidacy to win the Republican nomination for the presidency in 2015 made him a household name, was confirmed by the U.S. Senate as the 17th Secretary of HUD.

Positive outlook for the housing industry was presented by Federal Open Market Committee, with statements that gradual rate increases are probable in the future.

The Wall Street Journal reported that Trump administration officials plugged numbers into their GDP forecasts that seem too favorable to be accurate.

The former Goldman Sachs and OneWest executive was confirmed as the 77th U.S. Secretary of the Treasury on Monday evening.