The Senate Banking Committee has scheduled a mark-up of a flood insurance bill on March 31, and a vote on the nomination of Alphonso Jackson to be the new secretary of the Department of Housing and Urban Development.HUD's recent announcement that it has withdrawn its controversial Real Estate Settlement Procedures Act rule has apparently cleared the way for Mr. Jackson's confirmation by the Senate. Mr. Jackson has been the acting HUD secretary since former Secretary Mel Martinez resigned in December to run for the Senate. The committee also is expected to approve a five-year extension of the National Flood Insurance Program at the afternoon mark-up session. The Senate bill is expected to be similar to a House-passed measure that would increase insurance premiums on properties that are repeatedly hit by floods.
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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.
April 25 -
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.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
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