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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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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