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.
-
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3