Looking back, the housing industry is totally Scrooged

Looking back, the housing industry is totally Scrooged

Here's the HousingWire/Star Wars Christmas 2014 special

FHA loans could face "tidal wave of defaults"

All indices hit series high

Another mortgage lender launches 3% down loan

Falls in line with FHFA
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Items Tagged with 'Congress'

ARTICLES

Senate approves short sale tax break

Allows tax relief on 2014 short sales
Ben Lane
Homeowners who had short sales in 2014 were facing massive tax bills unless Congress extended short sale tax breaks. The House of Representatives did its part two weeks ago, and now the Senate has followed suit.
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Short sale tax break passes in House

Now on to the Senate
Ben Lane
According to a recent estimate from RealtyTrac, there have been more than 170,000 short sales representing a mortgage debt forgiveness of $8.1 billion total in the first three quarters of 2014 alone. All those borrowers will be facing massive tax bills if the bill doesn't pass in the Senate as well.
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Short sale tax break expiration could slam 170K with massive tax bills

Congressional inaction could add $75K in phantom income
Trey Garrison
The tax break for mortgage debt forgiveness is about to expire, Congress hasn't moved, and here's how it could add tens of thousands in phantom income to people already hit by short selling their homes.
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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.
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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.
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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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