Bracing for a legislative battle on how his company might be regulated, Fannie Mae chairman Franklin Raines said Wednesday that any "material change" to its charter "would constitute a material change in the nation's long-held commitment to homeownership."In a speech billed by the company as a "housing policy address," Mr. Raines told those in attendance at George Washington University that "curtailing the flow of housing capital" would hurt President Bush's "vision of a greater ownership society." Early in 2004, Congress is expected to renew efforts to create a new regulator for Fannie Mae and its rival, Freddie Mac. Fannie Mae is against the idea of housing both the safety-and-soundness regulator and the mission regulator at the Treasury Department, which is what the Bush White House has proposed.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25