Democrats on the House Financial Services Committee have secured the support of Rep. Spencer Bachus, R-Ala., after making significant changes to a predatory lending bill that is scheduled for mark up on Tuesday (Nov. 6)."The most important fact about this compromise is that it has significant new safeguards to protect families from abusive lending," Rep. Bachus said. He noted the assignee liability provision has "carefully crafted assurances that frivolous lawsuits will not disrupt" the securitization of mortgages. The ranking Republican has been working with Democrats on the predatory lending bill for the past two years. And he has agreed to co-sponsor the manager's amendment that committee chairman Barney Frank, D-Mass., will offer at the beginning of the markup.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
April 23