Sens. Tim Johnson, chairman of the Senate Banking Committee, and Mike Crapo, the top Republican, received an overall warm welcome to their agreement on housing finance reform released Tuesday, after months of negotiation.
FBC Mortgage, a unit of the investment bank Sterne Agee Group, is seeking loan referral partnerships with community banks. In a recent deal it also hired HomeBanc's mortgage personnel.
Sens. Tim Johnson, chairman of the Banking Committee, and Mike Crapo, the top Republican, laid out a preliminary bipartisan agreement on housing finance reform after months of deliberation.
Fannie Mae and Freddie Mac could return $179 billion in profits to taxpayers over the next 10 years if they continue operating under federal conservatorship, according to White House budget analysts.
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