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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The Housing for the 21st Century Act includes provisions covering policy, manufactured homes and rural infrastructure introduced in a prior Senate proposal.
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Mortgage loan officer licensing saw its first rise since 2022 as Fannie Mae projects $2.4T in 2026 volume. Experts eye a market reset amid improving affordability.
February 6 -
The FHFA chief told Fox an offering could be done near term - but may not be - while a Treasury official addressed conservatorship questions at an FSOC hearing.
February 6 -
The secondary market regulator will formally publish its own rule on Feb. 6, after a comment period and without making changes to what it proposed in July.
February 6 -
Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.
February 5 -
The mortgage technology unit at Intercontinental Exchange posted a profit for the third straight quarter, even as lower minimums among renewals capped growth.
February 5




