House Democrats are urging the Bush administration to reconsider its GSE policies and work with Congress on legislation that would strengthen oversight of Fannie Mae and Freddie Mac and increase their affordable housing requirements.In a letter to President Bush, 76 Democrats question his administration's tactics of "attacking the GSEs publicly," because Congress has not passed GSE reforms proposed by Treasury Secretary John Snow. "If the intent is to get pro-housing members of Congress to weaken their support for the GSEs' mission, it is a mistaken strategy," the letter says. The Democrats also warn that the attacks could increase the borrowing costs of the two government-sponsored enterprises. House Democratic leader Nancy Pelosi, D-Calif., called on the administration to work with the Democrats to find an appropriate balance between sound financial oversight and more meaningful affordable housing goals. "One cannot come at the expense of the other," she said. The administration responded by saying the Department of Housing and Urban Development has proposed affordable housing goals that "push" the GSEs to "lead the industry" in providing financing for low- and moderate-income families.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
3h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
April 23 -
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
April 23