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Items Tagged with 'Congress'

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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Barclays: 4 reasons Johnson-Crapo is dead until post-election

Plus one reason it may be dead after that
Trey Garrison
Johnson-Crapo isn't going anywhere before the 2014 elections, Barclays says.
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Is the CFPB really swamped with mortgage complaints?

Not every consumer is a victim, not every complaint is worthy
Trey Garrison
If an incredibly complex and wide-ranging industry like housing sees just one-tenth of 1% of its customers end up complaining — and 80% of those complaints are closed with just a single explanation or none at all — does that mean that the mortgage industry is disproportionately mismanaged?
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