Despite objections by the Bush administration, the House has approved an amendment by voice vote that restricts a new GSE regulator from using systemic risk as a reason for scaling back the size of Fannie Mae's and Freddie Mac's mortgage portfolios.The adoption of the portfolio amendment, sponsored by Reps. Randy Neugebauer, R-Texas, and Melissa Bean, D-Ill., is considered a significant victory for supporters of the two government-sponsored enterprises. But proponents of a strong GSE regulatory reform bill (H.R. 1427) don't expect the administration to turn its back on the bill at this point. "I would not think it is a deal-breaker," said Mike House, executive director of FM Policy Focus. During the debate Thursday evening, House Financial Services Committee Chairman Barney Frank, D-Mass., said he will continue to work with administration officials to address their concerns about the portfolios. "I don't consider this the last word on the subject," Rep. Frank said. A final vote on H.R. 1427 is scheduled for May 22.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
11h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28