Some economists believe the Republican sweep of both the Senate and House will reduce gridlock, increase pro-business legislation, and perhaps even lead to tax and immigration reform. One thing’s for certain — Democratic efforts to raise the minimum wage are now dead in the water.
Almost six years into conservatorship and barely any progress has been made to reform Fannie Mae and Freddie Mac or create a new housing system. But before reform can even happen, the Urban Institute said these 10 design issues need to be addressed.
They pulled off the kid gloves and the boxing gloves at the House Financial Services Committee, going full-on brass knuckles on the Consumer Financial Protection Bureau and its director, who was there to give his semi-annual report to Congress. Republicans targeted the CFPB, and the Democrats targeted Republicans.
Despite a lot of topics on the plate of the Financial Services Committee to debate, they could not seem to get away from the discussion of the Consumer Financial Protection Bureau. This being just one of the several topics discussed.
With the release of GSE reform legislation from Representative Maxine Waters, there are now four different proposals to wind down Fannie and Freddie and create a new mortgage market structure in the U.S. But have we reached the saturation point of GSE reform proposals?
The nation is headed on a destructive path to an overwhelming pile of national debt, Financial Services Committee chairman Jeb Hensarling, R-TX, said during the first hearing in a series planned to focus on attention on the impact of the nation’s debt on the economy.
"If you look at what we do, fundamentally, MERS is the mortgagee on behalf of the investor and its assigns, it’s not a whole lot more complicated than that. And that role as an agent is well rooted in the laws of this country. So when you get down to it, and when we get challenged, we typically prevail. We simply take away all the clutter and present what we do, and what the laws actually say, and we get there," MERS CEO Beckmann said in an exclusive profile only in HousingWire magazine..
The CFPB is currently paying close attention to the individuals/small players, as well as the larger institutional mortgage companies. With respect to the small players, the CFPB is looking at the loan officer, real estate agent and developer. A common violation that these smaller firms or individuals commit, in addition to possible violations resulting from social media posts, stems from agreements among themselves. Read More
Ladies and gentlemen, it’s been some time since the mortgage bond world felt shaken to the core. But shaken, right now, it feels, according to several recent conversations I’ve had on the subject. Read More