NCSHA Blogs
Treasury Report Proposes Comprehensive Changes to Federal Financial Regulations
The U.S. Department of Treasury earlier this week released a comprehensive review of federal financial regulations. The review also proposes a number of regulatory changes impacting the financial sector, including housing lending and public finance. Treasury also released a fact sheet summarizing the review’s findings.
Anne Hazlett to Head Rural Development at Department of Agriculture
U.S. Secretary of Agriculture Sonny Perdue on Monday announced Anne Hazlett will lead the Rural Development agencies at the U.S. Department of Agriculture (USDA). Hazlett’s title will be assistant to the secretary for Rural Development, a new position created in keeping with Secretary Perdue’s announcement to reorganize USDA and elevate Rural Development.
Meg Burns Joins the Financial Services Roundtable Housing Policy Council
The Financial Services Roundtable (FSR) announced Monday it has hired Meg Burns as Senior Vice President of Mortgage Policy. Burns joins Ed DeMarco, former Federal Housing Finance Agency (FHFA) director, who recently became the president of FSR's Housing Policy Council (HPC).
House Passes Comprehensive Dodd-Frank Overhaul
The U.S. House of Representatives yesterday passed legislation, the Financial CHOICE Act (H.R. 10), that would repeal and replace many provisions of the Dodd-Frank Wall Street Reform Act. The bill passed on a largely party-line vote of 233-186, with all but one Republican voting in support and all Democrats opposed.
Carson, Patenaude Face Tough Questioning in Congress over Administration’s Proposed HUD Budget Cuts
President Trump’s proposed fiscal year (FY) 2018 Budget for the Department of Housing and Urban Development (HUD) came under intense scrutiny from senators during committee hearings this week, as the HUD secretary and deputy secretary-designate defended the Budget at separate hearings.
Carson Touts Importance of Homeownership at HUD Forum
The Department of Housing and Urban Development (HUD) last week held a housing forum, “A New Era of Homeownership,” to mark the beginning of National Homeownership Month, as declared by President Trump in May. The social and financial benefits of homeownership for Americans and the economy was a common thread throughout the entire forum.
CFPB Announces Upcoming Assessment of Ability-to-Repay Rule
The Consumer Financial Protection Bureau (CFPB) yesterday published a notice in the Federal Register announcing that CFPB will be conducting an assessment of its Ability-to-Repay/Qualified Mortgage rule (ATR-QM). The Notice seeks public input on CFPB’s plans for the assessment and recommendations for improving it.
FHFA Seeks Stakeholder Impact on Expanding Mortgage Credit Access for Borrowers with Limited English Proficiency
The Federal Housing Finance Agency (FHFA) yesterday issued a Request for Input on how the single family housing market can better serve qualified borrowers with Limited English Proficiency (LEP). FHFA published this request to advance one of the goals of its 2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions, which calls on Fannie Mae and Freddie Mac to identify obstacles impacting LEP borrowers and formulate plans for increasing such borrowers’ access to mortgage credit.
Financial Services Committee Releases Flood Insurance Reform Bill Summary
House Financial Services Committee Chair Jeb Hensarling (R-TX) recently released a discussion draft summarizing legislation he intends to introduce soon that will reauthorize and reform the National Flood Insurance Program (NFIP). NFIP’s authorization is scheduled to expire at the end of fiscal year (FY) 2017. Hensarling says that NFIP reform will be one the Committee’s top priorities this year.
Senate Banking Committee Discusses Housing Finance Reform with FHFA Director Watt
The Senate Banking Committee yesterday held a hearing to examine the status of the housing finance system and the role in it of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. This is the first in a series of hearings the Committee is expected to hold this year as it works on housing finance reform legislation.
