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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After home equity surged in 2023, average gains slowed last year before falling into negative territory over the past 12 months, Cotality said.
December 12 -
For 2026, the mortgage industry operating environment will improve, while nonbank financial metrics should be within Fitch's rating criteria sensitivities.
December 12 -
Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
December 12 -
The executive order described state legislation on artificial intelligence as a cumbersome patchwork, and pledged to develop a national framework.
December 12 -
The Department of Housing and Urban Development announced the FHA-insured loan caps for low- and high-cost areas, which are set based on conforming loan limits.
December 12 -
Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
December 12





