The House Financial Services Committee has sent a letter to Sens. Richard Shelby, R-Ala., and Paul Sarbanes, D-Md., encouraging them to reach a bipartisan compromise on GSE legislation that the Senate could pass before Congress adjourns in early October for the elections."We firmly believe that the outstanding differences in the [government-sponsored enterprise] legislative debate are less than ever before and that final agreement can be reached this session," said a Sept. 14 letter signed by 64 members of the House committee. "This Congress should not close without addressing the serious inadequacies of the current GSE regulatory system." Senate Banking Committee Chairman Shelby, with the support of Treasury Secretary Henry Paulson, is trying to work out a compromise with committee Democrats over the regulation of Fannie Mae's and Freddie Mac's giant mortgage portfolios.
-
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
48m ago -
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
1h ago -
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
1h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
3h ago -
Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
9h ago -
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
May 9