Rep. Bob Ney, R-Ohio, a housing subcommittee chairman who has been tainted by the congressional lobbying scandal, has dropped his re-election bid for a seventh term and plans to step down in January."After much consideration and thought, I have decided to no longer seek re-election," Rep. Ney said. His ties to lobbyist Jack Abramoff, who pleaded guilty to conspiring to bribe congressmen, have dogged Rep. Ney for the past year. It is understood that federal prosecutors are considering bringing possible charges against the Ohio congressman. "Congressman Ney's decision is a political and practical one and not a legal one," his attorney said. "Congressman Ney has done nothing wrong, and there is no credible basis to charge him with a violation of law." Rep. Ney chairs the housing subcommittee of the House Financial Services Committee.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
August 12 -
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
August 12 -
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
August 12 -
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
August 12 -
Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
August 12 -
In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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