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-0.00101471334348045 -0.00101471334348045 -0.00126839167935051 -0.000761035007610379 -0.00405885337392178 -0.0147133434804667 -0.00786402841197367 -0.00152207001522076
Stock impact report

Will getting banks back into mortgage lending bring down rates? The Fed thinks so. [Yahoo! Finance Canada]

Ally Financial Inc. (ALLY) 
Last ally financial inc. earnings: 4/20 07:30 am Check Earnings Report
US:NYSE Investor Relations: ally.com/about/investor
· Senior Reporter 4 min read Historically, if you wanted a mortgage, your first stop was likely at a bank or a local credit union. But in recent years, you're more likely to have borrowed from a specialized mortgage company that isn't a bank at all, like CrossCountry Mortgage, Rocket, or loanDepot. The Federal Reserve would like to change that . It's considering tweaking the rules designed to incentivize banks to lend more and stay involved in mortgage servicing, the long-term administrative process of collecting and distributing payments. The goal is to introduce fresh lending competition into the frozen housing market and help lower mortgage rates. “The capital treatment of mortgage loans and mortgage servicing assets under the U.S. standardized approach has resulted in banks reducing their participation in this important lending activity, limiting access to mortgage credit,” Michelle Bowman, the Fed vice chair of supervision, said in testimony before the Senate Banking Com Show less Read more
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