Items Tagged with 'Congress'

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  • Mortgage Choice Act approved by House of Representatives

    Bill to adjust TILA definition of points and fees passes House for third time
    The House of Representatives voted Thursday to pass the Mortgage Choice Act of 2017, which would adjust the Truth in Lending Act’s definitions of points and fees under the Ability to Repay/Qualified Mortgage rule. This is actually the third time that the House has passed a “Mortgage Choice Act” that contained similar provisions.
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  • Realtors urge Congress to support Mortgage Choice Act

    Would reduce regulatory burden for lenders affiliated with brokerages
    In a letter sent to Congress on Monday, the National Association of Realtors urged representatives to support the Mortgage Choice Act. The bill would adjust the Truth in Lending Act's definitions of points and fees under the Ability to Repay/Qualified Mortgage rule.
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  • From HW Magazine

    Time to get involved

    What the mortgage industry should do to influence the political process
    As professionals who earn a living in this industry, it’s our responsibility to let our voice be heard as important decisions are made that will shape the future of mortgage banking. The best policy is made when those of us who have the boots on the ground and work with consumers make our voice heard.
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  • Here's why Congress can create bipartisan fix to flood insurance this year

    "Our first job is to help the victims of Hurricanes Harvey and Irma"
    In an unlikely pairing, Reps. Earl Blumenauer, D-Ore., and Sean Duffy, R-Wis., co-authored a blog for Bloomberg to emphasize the urgency and need to fix America’s flood insurance program. While the two noted that their first job is to help the victims of Hurricanes Harvey and Irma, the two are hopeful that Congress can come to an agreement on a fix to the flood insurance program.
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  • Carson says HUD will “reinterpret” Obama fair housing rule after Republicans ask for repeal

    What will become of the Affirmatively Further Fair Housing rule?
    Department of Housing and Urban Development Secretary Ben Carson said in an interview this week that HUD will look to “reinterpret” a controversial fair housing rule issued by the Obama administration in 2015. Carson’s statement comes just days after nearly 20 Congressional Republicans asked Carson to repeal the Affirmatively Furthering Fair Housing rule entirely.
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  • Katie Porter, California mortgage settlement monitor and Warren protégé, running for Congress

    Elizabeth Warren: "There's no one I trust more to take on Donald Trump"
    The coming battle for control of Congress in 2018 has a new combatant, one that would bring significant experience in the mortgage space to the House of Representatives. Katie Porter, who served as California’s independent monitor for the nationwide $25 billion National Mortgage Settlement and boasts Sen. Elizabeth Warren, D-Mass. as a mentor, announced that she is running for a seat in the House of Representatives in 2018.
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  • Wall Street Journal editorial lauds Republican plan to abolish Dodd-Frank

    "Regulators are no better than bankers"
    Count the Wall Street Journal editorial board among the supporters of the Republican-crafted plan to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. In an editorial published on Sunday, the Wall Street Journal editorial board calls the Republican plan a "promising idea" that would "promote economic growth and protect taxpayers"
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  • Inside the foundation-shattering Republican plan to abolish Dodd-Frank

    Includes ending 'too big to fail', dramatic overhaul of CFPB
    If House Financial Services Committee Chairman Rep. Jeb Hensarling, gets his way, Tuesday, June 7, 2016 will soon be remembered as the day that the death clock started on the Dodd-Frank Wall Street Reform and Consumer Protection Act. Here's an in-depth look at the Republican-crafted plan to fundamentally change how the CFPB, the FHFA, and the country's entire financial system, functions.
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