Democrats on the Senate Banking Committee are warning the Bush administration that they will "strongly oppose" new cuts in the Department of Housing and Urban Development's budget.Housing and community development programs run by HUD have not been adequately funded over the past few years and "further cuts may severely undermine their effectiveness," according to a Jan. 21 letter to President Bush. Sen. Paul Sarbanes of Maryland and eight other Democrats on the banking panel also raise concerns that the president's fiscal year 2006 budget proposal will eliminate HUD's office of community planning and development. "Further cuts to important HUD activities, or the dismantling of the agency, threaten to erode the programs that so many millions of American families use to climb the ladder of housing and economic opportunity," the Democrats say. The president's fiscal 2006 budget is scheduled for release Feb. 7.
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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.
April 25 -
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.
April 25