Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Surge in healthcare spending drives up 3Q GDP to 5%

Unbelievable rise compares to 3Q2003

Texas Realtor celebrates the murder of two NYPD officers

Doubles down on claims the day after and refuses to apologize
W S
The Ticker

Capito: GSE reform unlikely before November elections

With Senate in play, balance could change

stormy congress
KEYWORDS Capito / MarketWatch
/ Print / Reprints /
| Share More
/ Text Size+

U.S. Rep. Shelley Capito, R-W.V., told the American Bankers Association conference Tuesday that she doesn't believe GSE reform will pass before November. 

Capito, who supports the House reform measure known as the PATH Act and who heads the financial institutions subcommittee of the House Financial Services Committee, said there's little chance until after election season. The Senate housing reform measure, Johnson-Crapo, is considered to have even less chance. 

With the Senate in solid play and Republicans slightly favored, the PATH Act could gain traction after the mid-terms.

“It’s a huge undertaking with large ramifications, and so as time passes, I think probably hopes dim,” Rep. Shelley Moore Capito, a West Virginia Republican, told MarketWatch in a brief interview after speaking at an American Bankers Association conference in Washington.

“Hopes are dimming, I would say. But it’s not impossible,” said Capito, who leads the subcommittee on financial institutions and consumer credit.

Capito is a key backer of a bill that passed the House Financial Services Committee in July 2013, which would among other things phase out federally controlled mortgage-backers Fannie Mae FNMA  and Freddie Mac FMCC  within five years. She said the full House should be “dealing with” the bill, but called that “sort of a work in progress.”

Source: WSJ/MarketWatch
Read full story

Recent Articles by Trey Garrison

Comments powered by Disqus