The Office of Federal Housing Enterprise Oversight is developing a process to report incidents of mortgage fraud discovered by Fannie Mae and Freddie Mac to law enforcement agencies without causing any legal liability for the two government-sponsored enterprises.OFHEO issued a final rule in July that requires the two GSEs to report mortgage fraud to its examiners. But unlike banks, which are protected by the Bank Secrecy Act, the GSEs can be sued by persons named in those reports. So OFHEO is working with the FBI and other law enforcement agencies to develop a process to share information with the Financial Crimes Enforcement Network. "We are trying to make sure that information received by OFHEO examiners is investigated," Alfred Pollard, OFHEO's acting deputy director, told the Exchequer Club in Washington.
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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.
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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.
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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.
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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.
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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.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3