A key Republican on the Senate Banking Committee appears to support the creation of a GSE affordable housing fund, but he is willing to explore other AH proposals as the committee chairman drafts a bill to tighten regulation of Fannie Mae and Freddie Mac.Senator Rick Santorum, R-Pa., told a housing forum in Palmyra, Pa., that committee chairman Richard Shelby R-Ala., has real concerns about the proposal that would require the two government sponsored enterprises to contribute 5% of their after-tax profits to an AH fund. According to sources, the Pennsylvania senator said he is willing to work with the committee chairman, but he will keep his options open as the committee moves toward a mark up of the GSE bill -- possibly during the week of July 18. Sen. Santorum's press office did not return telephone inquiries about the speech. During the markup, committee Democrats are expected to offer an amendment to create a AH fund. Sen. Shelby recently said he is opposed to an AH fund that is based on GSE profits.
-
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.
11h ago -
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.
11h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
11h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25