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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Atlas VMS acquired CloseClear.ai to help lenders prevent post-appraisal GSE buybacks. The tech continuously matches active pipelines against live disaster maps to plug closing blind spots.
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BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.
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Researchers showed a message with no return address slips past Reject Direct Send. Credit unions were told to close this kind of gap in 2021.
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Cyber policies must keep pace with a surge in incidents fueled by AI, as well a growing trend toward account takeovers.
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Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.
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