The Senate Banking Committee is tentatively scheduled to mark up a Federal Housing Administration reform bill Sept. 19, sources say, but committee members are still trying to reach agreement on key provisions of the bill.The Senate bill is expected to raise the FHA loan limits to $417,000 in high-cost areas and limit the ability of the mortgage insurance agency to charge risk-based premiums based on credit scores. Just before the August recess, it appeared that the senators were near agreement to give the FHA the green light to set premiums based on loan-to-value ratios as well as loan or property type -- but not on credit scores. Separately, the FHA is expected to issue a proposed rule soon to establish an RBP system that the agency plans to implement if Congress does not pass an FHA bill by Jan. 1. In the other chamber of Congress, the House is expected to vote on passage of an FHA reform bill (H.R. 1852) the week of Sept. 16.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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