Items Tagged with 'Senate Budget Commitee'


  • Massive tax reform plan moves one step closer to full Senate vote

    Senate Budget Committee approves bill
    The Senate version of the Republicans’ tax plan, the Tax Cuts and Jobs Act, moved one step closer to becoming a reality on Tuesday when the Senate Budget Committee approved the bill. Of interest to those who operate in the housing industry, the Senate version of the tax reform bill will keep the current mortgage interest deduction cap at $1 million.
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  • Wells Fargo to refund borrowers who improperly paid mortgage fees

    Pinpoints borrowers who received mortgage rate lock extensions
    Wells Fargo announced plans to refund borrowers who wrongly paid fees for mortgage rate lock extensions requested from Sept. 16, 2013, through Feb. 28, 2017. The plans to refund mortgage borrowers came out Tuesday as the U.S. Senate Committee on Banking, Housing and Urban Affairs grilled Wells Fargo CEO Tim Sloan on Tuesday over the its massive fake account scandal last year. Here are the official details on the plan.
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  • Fannie, Freddie Rescue Could Cost $25 Billion

    The U.S. Treasury's push to gain the authority to buy equity positions in one or both of Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] could end up costing a pretty penny, as the Congressional Budget Office on Tuesday put out the first published estimate of the cost of government intervention into the two ailing mortgage financial giants since Treasury secretary Henry Paulson proposed the plan two weekends ago.
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