The agency that regulates Fannie Mae and Freddie Mac will get a mere $1 million increase in its budget for fiscal year 2006 after receiving a 50% budget increase last year.The President's FY 2006 budget proposal would increase funding for the Office of Federal Housing Enterprise Oversight to $60 million from $59.2 million. However, the Bush administration expects that Congress will pass legislation this year that transfers OFHEO to a new agency with stronger regulatory and oversight powers. "It is expected that all resources available to OFHEO would be transferred to a new strengthened housing GSE regulator that will be proposed in 2005," a budget document says. The administration also reaffirmed its support for giving the new government-sponsored enterprise regulator the authority to levy assessments directly on Fannie and Freddie to fund its operations, instead of going through Congress and the appropriations process.
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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.
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