Trump’s move to fire Cook likely violated her right to due process, and “for cause” provision for removal is limited to governor’s behavior in office, judge rules in granting preliminary injunction. Continue reading
Cook’s attorneys say she did not commit mortgage fraud, and is being targeted by the Trump administration to undermine the Federal Reserve’s independence. Continue reading
Hundreds of economists say Trump adminstration’s move to fire Cook “threatens the fundamental principle of central bank independence and undermines trust in one of America’s most important institutions.” Continue reading
Democratic Senators Elizabeth Warren, Chuck Schumer and Cory Booker have asked federal regluator to pause any efforts to reprivatize Fannie and Freddie and study potential impact on mortgage rates. Continue reading
A judge gave attorneys for the Fed governor until Sept. 2 to bolster their argument that she should keep her job, as Bill Pulte leveled new allegations of misrepresentation on a third property. Continue reading
Survey shows most Americans are also concerned that privatizing the mortgage giants might lead to higher mortgage rates, although Democrats and independents are more likely to be worried than Republicans. Continue reading
If bond market investors get cold feet about buying government debt and mortgage-backed securities, that could push long-term interest rates higher, even if the Fed cuts short-term rates. Continue reading
Federal Reserve governor Lisa Cook filed a lawsuit against President Trump on Thursday alleging that his attempted firing of her was illegal without him showing “cause” for her termination. Continue reading
Trump has attempted to remove Lisa Cook from the rate-setting board over allegations made by the head of FHFA. Cook has denied wrongdoing and said she would continue serving on the board. Continue reading
Fannie Mae and Freddie Mac should continue to operate as separate companies rather than merged into a single entity, and be regulated like utilities with a cap on excessive fees and prohibitions on backing risky loans. That’s the perspective of a… Continue reading