Wilbur Ross quits Ocwen Financial

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
W S

Items Tagged with 'Congress'

ARTICLES

Sen. Warren accuses FHFA’s Watt: “You haven’t helped a single family”

Senator charges FHFA with dereliction on principal reduction
Trey Garrison
What started as a dry, lame-duck session hearing on the Federal Housing Finance Agency in the Senate Banking Committee on Wednesday, got heated when U.S. Sen. Elizabeth Warren, D-Mass., went guns blazing after the FHFA director.
Read More

FHFA Inspector: $353 million in criminal fines and restitution

Semiannual report delineates agency accomplishments
Brena Swanson
The Office of Inspector General for the Federal Housing Finance Agency released its eighth semiannual report to Congress, showing just how busy the FHFA has been for the past several months, including the $16.65 billion BofA settlement.
Read More

FHLB Des Moines, FHLB Seattle in merger talks

Brings 12 FHLB down to 11
Brena Swanson
Currently, there are 12 Federal Home Loan Banks that could change soon, with a potential merger from the Federal Home Loan Bank of Des Moines and the Federal Home Loan Bank of Seattle.
Read More

CFPB, Cordray back in the House hotseat

Report and discrimination probe headline hearings
Trey Garrison
The Consumer Financial Protection Bureau is back in the crucible on Capitol Hill Tuesday, this time in two hearing on the House side, both of which are guaranteed to generate white hot debate from all sides.
Read More

Financial Services Committee can't get past CFPB debate

Waters: "We should not cut off the ability of the CFPB..."
Brena Swanson
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.
Read More

4 housing bills that could make mortgage lending much easier

Regulatory streamlining, QM, exemptions for small lenders go to floor
Trey Garrison
The House Financial Services Committee passed three bills Thursday as part of a continued markup from May 7, along with another bill passed on May 7 by voice vote that are being welcomed by the finance industry.
Read More

HUD funding goes to House floor for vote

Spending up $1.2B, but $7.8B less than White House wants
Trey Garrison
The House Appropriations Committee approved on Wednesday the fiscal year 2015 Transportation, Housing and Urban Development funding bill on a partisan vote of 28-21.
Read More

Schumer, Warren, other key Democrats will not support Johnson-Crapo

Say major changes necessary
Ben Lane
According to Bloomberg, Charles Schumer of New York, Sherrod Brown of Ohio, Jeff Merkley of Oregon, Robert Menendez of New Jersey, Elizabeth Warren of Massachusetts, and Jack Reed of Rhode Island held a private meeting and agreed to pull their support for Johnson-Crapo.
Read More

GSE reform will drive up mortgage rates

Johnson-Crapo faces markup as opposition grows
Trey Garrison
The Senate will put its hand to the future of GSE reform Tuesday morning, and how Fannie Mae and Freddie Mac evolve could affect the future of the housing market. And any GSE reform, no matter where it lands, will likely drive up mortgage rates, sources tell HousingWire.
Read More

7 problems NAFCU, CUNA and ICBA have with Johnson-Crapo

Trade coalition says GSE reform favors big lenders
Trey Garrison
Three financial trade associations have issued a joint letter protesting the direction in housing finance reform as biased in favor of large lenders, and they list seven specific concerns they have about Johnson-Crapo.
Read More