A coalition of 61 nonprofit groups is protesting an affordable housing provision in the House GSE bill that would bar them from receiving grants from Fannie Mae and Freddie Mac if they engage in political activities or affiliate with organizations that engage in voter registration or lobbying activities.The coalition, which includes housing, religious, and other nonprofit groups, contends that the provision in H.R. 4161 "would restrict the ability of American citizens to engage in our democratic process." They also stress in a letter to House Speaker Dennis Hastert, R-Ill., that the restrictions on affiliations are "blatantly undemocratic and raise substantial constitutional questions." The coalition wants the Republican leader to remove the offending language from the government-sponsored enterprise reform bill before it goes to the House floor for a vote, possibly the week of Oct. 24. Rep. Barney Frank, D-Mass., said it is "particularly ironic" that the Republicans would force "faith-based groups across the country to choose between providing housing and registering voters and assisting Americans with the opportunity to vote."
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The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
October 10 -
The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
October 10 -
While technology has become an important channel for information among homebuyers, many still see real estate agents as smarter than any other resource.
October 10 -
Onity adds former Meta exec as director, Click n' Close taps industry veteran as president while banks and credit unions boost their mortgage teams.
October 10 -
The regulator recently nixed Obama and Biden-era guidance for the Office of Fair Housing and Equal Opportunity and apparently reduced staff.
October 9 -
Total mortgage origination volume is forecasted to barely eclipse $2 trillion by the end of the year for the first time since 2022, iEmergent said.
October 9