The Mortgage Bankers Association considers a GSE regulatory reform bill introduced by four Republican senators to be "well-crafted" but says it cannot go along with the limits on the Fannie Mae and Freddie Mac mortgage portfolios.In a letter to Senate Banking Committee leaders, the MBA says it "strongly supports" the regulatory regime contained in a government-sponsored enterprise bill (S. 1100) sponsored by Sens. John Sununu (N.H.), Chuck Hagel (Neb.), Elizabeth Dole (N.C.), and Mel Martinez (Fla.). But that support does not apply to the section that says Fannie and Freddie can only add affordable housing loans to their mortgage portfolios. "It is appropriate to encourage the GSEs to use their investment portfolios in furtherance of affordable housing; however, we believe the regulator should have broad authority and flexibility to determine the type and amount of assets the GSEs hold in portfolio," the MBA says. The association said it is more comfortable with the portfolio language in a GSE bill that the House is expected to pass in May and has the support of the Bush administration.
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The number of homes purchased by foreign buyers increased for the first time in 8 years, with many making all-cash purchases of vacation and rental homes.
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Prosecutors said the defendant will pay back $13,784 in restitution for federal housing assistance he fraudulently obtained between 2019 to 2020.
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While Sunbelt markets were more likely to see softening property values, the Northeast saw growth continue, according to Intercontinental Exchange.
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New limits for forward commitments add to indications the secondary mortgage market is watching builder partnerships with home lenders closely.
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