Sen. Christopher Dodd, D-Conn., the incoming chairman of the Senate Banking Committee, is planning an ambitious housing agenda next year that includes GSE, RESPA, flood insurance, and Federal Housing Administration reform.Sen. Dodd said he has not reviewed the compromise on the government-sponsored enterprise portfolios worked out between Treasury Department officials and his House colleagues, but he wants to reach a compromise on regulatory reform for Fannie Mae and Freddie Mac early next year. He also says he wants to work with the Bush administration to modernize the FHA single-family program. With regard to reforming the Real Estate Settlement Procedures Act, Sen. Dodd said he wants to "simplify the homebuying process so consumers don't have to wait until closing on their new home to know the terms of their mortgage." The Connecticut senator, who is considering a run for president, also said the Senate Banking Committee approved a good flood insurance bill last year and that he hopes to get it passed this year.
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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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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
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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.
April 23 -
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.
April 23