The chairman of the GSE subcommittee said that in more closely regulating Fannie Mae and Freddie Mac he is not inclined to limit their debt issuance, a move that has been suggested by Federal Reserve chairman Alan Greenspan.At a Congressional hearing Wednesday morning Rep. Richard Baker (R-La.) noted, however, that when it comes to debt issuance a GSE regulator should have, "the responsibility to make those judgments or recommendations to Congress." Rep. Baker said he likely will introduce his GSE regulatory bill by the end of March. His bill will include the stipulation that any new regulator have full receivership powers and the authority to review new GSE products before they are introduced to the market place. He also wants to impose full SEC registration on Fannie Mae and Freddie Mac. He wants the regulator to have the ability to review executive compensation and severance packages. He told reporters that he wants to consult with the Bush Administration before introducing his bill, adding that he thinks the House and Senate will conference on a final GSE bill by year-end.
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The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.
10h ago -
The top five depositories have a combined wholesale volume of more than $15 billion at the end of Q4 2023.
11h ago -
Among opportunities to be offered to the program's fifth class of startup entrepreneurs are bank-provided mentorships and sessions with technology leaders and regulatory experts within home finance.
11h ago -
Financial advisors and tax experts say HOA fees are usually not deductible, unless the home is used for a business or as a rental property.
March 18 -
The broker argues it did not break any agreement because it never signed an amendment to UWM's ultimatum in 2022.
March 18 -
The racial gap in first-time buyers' ability to maintain their status as owners has also narrowed over the last two decades, the agency's researchers reported.
March 18