The Treasury Department has given the GSE regulatory reform bill introduced by House Financial Services Committee chairman Barney Frank, D-Mass., its seal of approval and it now looks like the House will easily pass the bill."On balance, this is a well-crafted bill," Treasury undersecretary Robert Steel said, that will "significantly improve the supervision" of the government-sponsored enterprises. In December, Rep. Frank and Treasury secretary Henry Paulson worked out a compromise on regulating the size and growth of the Fannie Mae and Freddie Mac's portfolios and other key areas, such as GSE capital requirements. Treasury's endorsement shows that Rep. Frank faithfully incorporated those provisions into the bill. Meanwhile, a House Financial Services subcommittee hearing on the GSE bill (H.R. 1427) showed that industry groups generally support the bill and raised few objections. National Association of Realtors president Thomas Stevens said the bill does not "over-regulate" the GSEs at the March 12 hearing. Top executives from Fannie and Freddie are expected to testify before the full committee on March 15.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23 -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
April 23