The National Association of Realtors is voicing optimism that Congress can pass a bill to revitalize the Federal Housing Administration's single-family insurance program this year.Last year, officials of the Department of Housing and Urban Development did not have enough time to get the Senate to pass the FHA reform package, according to NAR senior vice president David Lereah. This year, HUD has more time to work with Congress, and "HUD will be more flexible," Mr. Lereah told reporters at a briefing on the association's legislative and regulatory priorities. The NAR is also prepared to support a GSE regulatory reform bill being worked on by Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee. The NAR is particularly interested in raising the loan limits for the two government-sponsored enterprises (Fannie Mae and Freddie Mac), as well as the FHA, in high-cost areas. "We are anxious to work with Congress to make this [FHA and GSE reform] a higher priority," NAR chief lobbyist Gerald Giovaniello said. The NAR can be found online at http://www.realtor.org.
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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.
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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.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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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