The Senate Banking Committee may consider granting the Federal Home Loan Banks the explicit authority to issue and guarantee mortgage-backed securities at a mark-up of a GSE regulatory reform bill on Thursday.Sens. Evan Bayh, D-Ind., and Debbie Stabenow, D-Mich., have filed the MBS amendment with the committee, although sources indicate that they may withdraw the amendment because it is likely to be voted down. The FHLBanks and the banking associations are divided on the issue, and committee Chairman Richard Shelby, R-Ala., is not likely to support any Democratic amendments unless the sponsors are willing to vote for his bill, which would establish tough portfolio limits on Fannie Mae and Freddie Mac. Observers says they expect the committee to pass Sen. Shelby's GSE bill on an 11-9 party-line vote with few changes, possibly including an amendment by Sen. Rick Santorum, R-Pa., to revise Fannie's and Freddie's affordable housing goals. The committee will also vote Thursday on the nominations of John Dugan to be comptroller of the currency and John Reich to be the director of the Office of Thrift Supervision.
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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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Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.
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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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Mortgage professionals are more often subject to non-compete and non-solicitation agreements and aren't likely to be impacted by the new Sunshine State law.
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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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