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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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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