The House and the Senate have passed a bill that provides $4 billion in additional loan commitment authority to prevent a shutdown of the Federal Housing Administration multifamily program.The bill (S. 2712) raises the loan commitment authority for the FHA General and Special Risk Program account from $25 billion to $29 billion. The Bush administration requested the additional commitment authority on July 14 to make sure that the FHA multifamily, condominium, and manufactured housing loan programs could keep up with loan demand through August and September. The federal government's fiscal year ends Sept. 30. FHA Commissioner John Weicher told a congressional panel that the FHA could handle the current pace of loan applications. However, the additional commitment authority would ensure that a surge in applications in August and September won't force another shutdown, as occurred last year. Congress passed S. 2712 just before adjourning for a six-week summer recess. Congress returns on Sept. 7.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
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