Items Tagged with 'House Financial Services committee'

ARTICLES

  • House committee passes bill to make FHA loans less expensive

    Aims to limit mortgage insurance premiums for FHA borrowers
    The House Financial Services Committee passed a bill Wednesday that would limit mortgage insurance payments on loans backed by the Federal Housing Administration. The bill would repeal FHA's policy that requires borrowers to pay mortgage insurance for the life of the loan – something housing industry participants have lobbied for for years.
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  • Former House Financial Services Committee Chairman Jeb Hensarling lands at UBS

    Long-time congressman will serve as executive vice chairman of the Americas
    Jeb Hensarling, who previously held one of the most powerful positions on Capitol Hill as chairman of the House committee that oversees the financial services industry and spent years advocating for the deregulation of said financial services industry, is now joining… the financial services industry.
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  • House committee passes bill to end homelessness

    And four other bills
    Last week, the House Financial Services Committee held a markup of five bills, one of which addresses homelessness in the U.S. If it passes in the Senate, HR 1856, the Ending Homelessness Act, would provide $13.27 billion in new funding over the next five years to federal programs and initiatives to prevent homelessness.
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  • Wells Fargo CEO Tim Sloan lands $2 million bonus day after congressional beatdown

    Some members of Congress called for his firing, instead he got a raise
    Looks like Tim Sloan's week is looking up. On Tuesday, the Wells Fargo CEO received a brutal lashing from Congress during a four-hour hearing before the House Financial Services Committee, during which he was raked over the coals for the bank's numerous misdeeds. But just a day later, the board of directors gave Sloan a 5% raise, increasing his total pay to a whopping $18.4 million, which includes a $2 million bonus.
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  • Lawmakers hit standstill on flood insurance reform

    Look to create bipartisan reform
    Both Democrats and Republicans agree the National Flood Insurance Program is in need of reform, however, they disagree on how to accomplish it. The House Financial Services Committee held a hearing Wednesday entitled Preparing for the Storm: Reauthorization of the National Flood Insurance Program, in order to discuss the issue and hear from experts in the subject.
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  • Is Wells Fargo too big to manage? Congress grills CEO Tim Sloan

    House committee roasts Sloan over progress on bank's overhaul in hostile 4-hour hearing
    Wells Fargo CEO Tim Sloan appeared before the House Financial Services Committee on Tuesday to address questions regarding the bank's overhaul after a series of scandals rocked the big bank in recent years. In a tense four-hour hearing, Sloan was grilled about the steps he's taken during his two-year tenure as CEO to overhaul the bank, with the big question of the day being whether or not Wells Fargo is simply too big to manage.
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  • From HW Magazine

    Servicers: There’s a new sheriff in town, and she has concerns

    Maxine Waters takes over House Financial Services Committee
    As a new Congress is seated and Democrats take control of the House of Representatives, one of the favorite new parlor games for mortgage market observers has been predicting what the priorities will be of the House Financial Services Committee under the leadership of its new Chairwoman, Representative Maxine Waters.
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