- January 27, 2012
Since President Obama proposed in his January 24 State of the Union address a plan to allow all homeowners the opportunity to refinance their mortgages, some additional information about the plan has emerged, despite the fact that the Administration has not formally released additional details. - January 18, 2012
HFA directors and staff, Administration officials, and industry partners came together last week for NCSHA's HFA Institute MRBs and Federal Mortgage Insurance conference. For three days, attendees took advantage of the opportunity to network with their peers and receive top-notch education during more than a dozen sessions. - December 16, 2011
On December 17, the Senate passed legislation that would raise annual premiums on single-family FHA mortgages to help pay for a two-month extension of the payroll tax cut, in addition to the Fannie Mae and Freddie Mac G-fee increase included in a 12-month payroll tax-extension bill the House passed last week. - December 16, 2011
On December 14, the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises (GSEs) marked up Chairman Scott Garrett's (R-NJ) Private Mortgage Market Investment Act. Garrett's bill authorizes the Federal Housing Finance Agency to develop standards for mortgage products, repeals the Dodd-Frank Act’s risk retention rule, increases the quality of loan level information and disclosures for investors, removes conflicts of interest between servicers and investors, and prevents regulators from unilaterally forcing investors to reduce the principal of loans in which they have invested. For more information on the details of Garrett's proposal, see Garrett's December 15 press release and NCSHA's October 28 blog post. - December 6, 2011
On December 1, the House Financial Services Subcommittee on Oversight and Investigations held a hearing entitled, "Oversight of the Federal Housing Finance Agency." The hearing witnesses were Edward DeMarco, acting director, Federal Housing Finance Agency; Charles Haldeman, Jr., chief executive officer, Freddie Mac; and Michael Williams, president and chief executive officer, Fannie Mae. - November 23, 2011
Moments ago, the Treasury Department announced the extension of the New Issue Bond Program (NIBP) through the end of 2012 and the Temporary Credit and Liquidity Program (TCLP) through December 31, 2015, with accompanying term sheets. - November 10, 2011
Corker’s bill, the Residential Mortgage Market Privatization and Standardization Act (S.1834), would also establish uniform mortgage underwriting standards and repeal the Dodd-Frank risk-retention provision requiring lenders and securitizers to retain some credit risk on mortgage-backed securities they issue. - November 7, 2011
Congress has yet to complete its work on any of the FY2012 appropriations bills and all federally funded agencies are currently operating under a continuing resolution (CR), which will expire on November 18. NCSHA encourages its members to reach out again this week to their congressional members regarding the importance of funding for HUD and USDA housing programs in FY2012. - November 4, 2011
On November 3, the House Financial Services Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises (GSEs) held a hearing on Chairman Scott Garrett’s (R-NJ) proposal to support the housing finance system and secondary market with mortgage product standards and transparency but without a government guarantee. - October 28, 2011
On October 27, Scott Garrett (R-NJ), chairman of the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, published a press release announcing his proposal “to reform the secondary mortgage market to ensure robust private investment in the U.S. mortgage market without a government guarantee.”
