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Items Tagged with 'Congress'

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Houses passes Mortgage Choice Act of 2015 by 286-140

Bipartisan bill would reform mortgage regulations
Trey Garrison
A bill to reform mortgage industry regulations was approved by the House of Representatives late Tuesday afternoon by a substantial bipartisan majority. Here's what happened, and what happens next.
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Huge Mortgage Choice Act critic was supporter in August

Maxine Waters stands against bill she urged Senate to pass in 2014 letter
Trey Garrison
The ranking Democrat on the House Financial Services Committee took to the House floor to strongly oppose a measure the mortgage industry says is critical. But the thing is, just nine months ago, she just as strongly wanted it passed. Read on.
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House Committee grills Cordray on QM, mortgage regulations

Republicans still want more accountability, Democrats push back
Trey Garrison
CFPB Director Richard Cordray made his semi-annual appearance before Congress, and it was everything you think it would be. Here's the story.
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Meet the bullies ripping off Realtors

NAR executives testify before Congress on patent troll fight
Ben Lane
Realtors, real estate agents and brokers are fighting a constant battle against people and companies who are trying to rip them off, and they’re not going to take it anymore, executives from the National Association of Realtors told a House subcommittee on Thursday.
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House passes bipartisan regulatory reform bill

Would require more cost-benefit analysis, transparency in regs
Trey Garrison
A bipartisan bill that would shed light on how federal policies affect both businesses and state and local governments passed the House Wednesday. It’s got a clear shot through the Senate but there’s turbulence waiting in the White House. Here’s why.
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Realtors join fight against patent trolls

NAR becomes founding member of patent law reform group
Trey Garrison and Ben Lane
The National Association of Realtors is joining a group that wants to fight what it calls patent trolling. Here’s why they say it's important to fight back.
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White House may cut FHA premiums 50 bps by executive action

Obama housing speech could be boon for borrowers, bust for insurers
Trey Garrison
The President could announce a plan to lower FHA premiums by 50 basis points when he talks about housing policy in a speech Thursday in Phoenix. But such a move would be met with considerable opposition in Congress.
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Short sale tax break signed into law

President Obama makes it official
Ben Lane
Homeowners who had short sales in 2014 can now breathe a giant sigh of relief, as the Mortgage Debt Forgiveness Act was signed into law by President Barack Obama. The short sale tax break lives on, for now, at least.
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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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