FHFA Publishes Final Rule on Private Transfer Fees - FHFA (Washington DC)

The Federal Housing Finance Agency (FHFA) has sent a final rule to the Federal Register on private transfer fees. The final rule limits Fannie Mae, Freddie Mac and the Federal Home Loan Banks from dealing in mortgages on properties encumbered by certain types of private transfer fee covenants and in certain related securities. Transfer fees are contractual arrangements where an owner pays a fixed amount or a percentage of the sales price at the time of transferring the property.

 Ninety-Nine Housing Markets Seen as Improving in March - NAHB (Washington DC)

The tally of housing markets showing measurable improvement reached 99 in March, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. Currently 33 states (including the District of Columbia) are represented by at least one market on the list.

More Than 40 Community Bankd Join Prepaid Program - ABA (Washington DC)

The Community Bank Prepaid Program announced today its participation rate has doubled in the past nine months with 45 banks issuing cards in nearly 600 branches nationwide. The Community Bank Prepaid Program was developed by Business Solutions, a subsidiary of American Bankers Association, to provide a bank-branded, prepaid solution for ABA members.

“Regardless of size, banks want to provide the latest products in payment cards,” said Bill Kroll, president of Business Solutions. “Many people see prepaid cards as a safe, convenient alternative to cash, and the banks offering these cards are seeing explosive growth.”

ABA Statement on Federal Reserve Stress Test Results - ABA (Washington DC)

By Frank Keating, ABA President and CEO

"The banking industry is pleased that the overwhelming majority of institutions passed the Federal Reserve's stress tests with flying colors.  The banking industry has worked hard to fortify its financial base since the financial crisis.  The industry is now very well prepared for any challenging economic circumstances that could arise.