Senate Banking Committee Chairman Richard Shelby, R-Ala., is leaning toward the creation of a new GSE regulatory agency with a strong executive and a "powerful, prestigious advisory board" composed of high government officials.This regulator of the housing government-sponsored enterprises would be independent of the Treasury Department. However, the secretaries of the Treasury and the Department of Housing and Urban Development would be represented on the advisory board, along with the chairmen of the Securities and Exchange Commission and the Federal Reserve Board. "We need a strong executive and we also need a strong advisory board," Sen. Shelby said at a committee hearing. But Sen. Paul Sarbanes, D-Md., commented that the board would be "loaded" with members who are concerned more about safety and soundness than about the GSEs' housing mission. Sen. Sarbanes argued that the board should be limited to the Treasury and HUD secretaries. Sen. Shelby said he plans to hold more GSE hearings as he prepares to draft a GSE bill for a committee vote in March.
-
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
4h ago -
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.
5h ago -
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.
5h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
7h ago -
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