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Fed, OCC, FDIC seek to withdraw overhauls to anti-redlining rules

Plus: NAR cuts 61 jobs, highlights strategic shift

March 31, 2025

👋 Welcome back! Today’s newsletter is 734 words, a 2.5-minute read. Let’s go…

Disclaimer: Average mortgage rates as of Mar 28, 2025. Š MND Daily Rate Index.

1. NAR cuts 61 jobs, highlights strategic shift

NAR announced staffing changes on Friday that are reportedly aimed at reducing costs, streamlining operations and refocusing on member services.

The restructuring efforts includes the elimination of 41 positions and 20 unfilled roles across several departments — including digital strategy, public relations, member engagement, and finance. NAR said the move aims to reallocate resources to advocacy, research, data and education functions.

“The industry is changing, and it is our responsibility to lead and change with it. As we continue managing our finances to meet the challenges of today and tomorrow, we need to invest in the best people, adopt the right processes, and apply the most advanced, cost-effective technology while remaining prudent financial stewards of the enterprise.”

NAR CEO Nykia Wright said in a statement.

2. Fed, OCC, FDIC seek to withdraw overhauls to anti-redlining rules

Three federal bank regulators plan to rescind the 2023 Community Reinvestment Act (CRA) final rule due to pending litigation. The Federal Reserve, OCC, and FDIC will revert to the previous CRA framework.

The 2023 rule, the first major CRA update in nearly three decades, aimed to modernize regulations but faced legal challenges and was blocked by a Texas judge. Regulators had already postponed implementation to 2026.

Michael Barr, who was the Fed’s vice chair for supervision at the time the rule was finalized, called the final rule a “win-win for all” when it was announced. “Fair lending is safe and sound lending, and the CRA regulations we promulgate today will help make the financial system safer and fairer,” he said at the time.

Maxwell Report: How Rising Insurance Costs Are Shaping Today’s Homebuyers

Rising taxes and skyrocketing insurance premiums are major hurdles for today’s homebuyers. Maxwell’s latest report reveals that 50% of homeowners fear they won’t afford their homes much longer, and 60% may sell in the next 5 years.

As a loan officer, understanding these shifts is crucial to serving prospective buyers who are more concerned than ever about rising costs.

Click here to get Maxwell’s Homeowners Insurance Data Report—and empower yourself with insights that will help you better understand and guide today’s homebuyers.

3. More Nuggets

☕️ ‘Just stop buying lattes’: The origins of a millennial housing myth. (theHustle)

🤖 Betsy, an AI loan officer assistant, ‘will ace the NMLS exam’. (NMP)

📈 Core inflation ticks up, showing prices rising faster than forecast. (CBS News)

🚫 Judge blocks the Whitehouse from dismantling CFPB. (The Hill)

📉 UWM, Rate, A&D and Finlocker launch March promos. (NMN)

4. Idaho Gov. passes law to curb use of trigger leads

Idaho's governor has signed a new law requiring trigger lead solicitors to disclose their lack of affiliation with original mortgage lenders and to inform consumers that their data was purchased from a credit reporting agency.

The law, effective July 1, aims to enhance transparency and protect consumers from misleading solicitations. While it doesn't ban trigger leads outright—due to Fair Credit Reporting Act (FCRA) limitations—it marks a step towards consumer protection.

Texas passed a similar law in December, and more states are considering related measures. At the federal level, a previous attempt to limit trigger leads narrowly failed, but advocates continue to push for legislative change, citing credit bureaus' ability to sell consumer data as the root issue.

5. Homebuyers made record down payments in 2024

Homebuyers made record-high down payments in 2024, averaging $29,900 (14.4% of purchase price), according to Realtor.com. This figure marks the highest since tracking began, driven by increased savings and home equity.

Buyers tapped into pandemic-boosted savings and leveraged home equity to afford larger payments, with the market shift toward pricier homes contributing to higher down payments. Sales of homes over $750,000 grew by 7.4%, while lower-priced transactions fell by 9.3%.

“Today’s home sales are skewed toward higher-end homes, and this means larger down payments from more financially prepared, high-earning buyers”

Danielle Hale, Realtor’com’s chief economist.

☀️ You’re all caught up. See you on Wednesday!

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