Key senators and consumer groups are urging Congress to wait for a Government Accountability Office study before taking legislative action on Federal Housing Administration reforms -- but don't expect the study to be completed anytime soon."We haven't received the formal request, and we haven't initiated anything," a GAO official said. A spokesman for the Senate Banking Committee said a letter requesting the report would be sent to the GAO by the end of the week. At a June 20 hearing, Sen. Wayne Allard, R-Colo., said he is asking the GAO to conduct a study on the Bush administration's FHA single-family reform proposals and wants the GAO to recommend the "most viable options FHA can pursue to serve additional low-income and first-time homebuyers." Senate Banking Committee Chairman Richard Shelby, R-Ala., recently urged Senate appropriators not to include the FHA reforms in a Department of Housing and Urban Development appropriations bill, and FHA reform was kept out of the bill. "We have commissioned a study by GAO to examine the implications of the reform proposal," Sen. Shelby said in a July 17 letter. "We believe that it would be premature to legislate without this additional information."
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Technology and customer service were the two largest categories within operational expenses last year, according to the Mortgage Bankers Association.
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Bright partnered with real estate data and analytics platform HouseCanary to deliver exposure on Google at no additional cost or operational efforts.
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The move may have been related to the government-sponsored enterprise's duration gap but could also have resulted from many other considerations.
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The lawsuit is the third against a California-based mortgage company this month after revelations of another early-2026 incident at a wholesale lender.
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The Bank of International Settlements compared the recent AI investment frenzy to the canal mania of the 1830s, the British railway craze of the 1840s and the dot-com boom of the late 90s.
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Fake jumbo mortgages are helping non-agency securitization growth, but these loans could have higher than expected delinquency rates, an analysis said.
June 29









