Senate appropriators have put off a decision on FHA single-family reforms advocated by the Bush administration until they go to conference with the House on a Department of Housing and Urban Development appropriations bill."We will look at it in conference," a Senate staffer said. The senators don't want to go into conference with the Federal Housing Administration reforms "when there are significant issues that still need to be discussed," he said. Sen. Christopher Bond, R-Mo., the chairman of a Senate Appropriations subcommittee, and Senate Banking Committee Chairman Richard Shelby, R-Ala., harbor serious concerns about the FHA reforms, which would raise FHA loan limits and allow the FHA to charge risk-based insurance premiums and offer zero-downpayment loans. The House has already passed a HUD appropriations bill with the FHA reforms. But Sen. Bond's subcommittee approved a HUD appropriations bill July 18 that eliminates a loan cap on FHA reverse mortgages but does not include the FHA single-family reforms.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
5h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
10h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
10h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
11h ago -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
11h ago