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Home >> News >> Government

Senators Pen Letter to FHFA Chief Over FHLB Requirements

Senators Pen Letter to FHFA Chief Over FHLB Requirements

The letter, co-authored by Senators Joe Manchin (D-West Virginia) and Mark Kirk (R-Illinois), states that "(t)he proposed rule affects long-standing membership rules for the Federal Home Loan Bank system and will negatively affect new and current members in the system." Twenty-five other senators signed the letter.

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Federal Reserve to Exercise Restraint on Rate Hikes

Federal Reserve to Exercise Restraint on Rate Hikes

In a policy statement released following the last 2014 meeting of the Federal Open Market Committee (FOMC), the central bank reaffirmed its view that the economy is expanding at a "moderate pace," pointing to continued improvements in the labor market tempered by still-high numbers of unemployed and underemployed Americans and slower growth in the housing sector.

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Survey: Credit Loosening Everywhere Except Mortgages

Survey: Credit Loosening Everywhere Except Mortgages

According to the OCC survey, 92 percent of surveyed banks originated residential real estate loans in 2014, and a full 20 percent reported tightening their standards regarding who can attain these loans. Seventy percent reported no changes in their standards, leaving a comparatively slight 10 percent of institutions claiming they eased their standards for residential mortgages.

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Settlement Monitor Finds Problems in Ocwen Review

Settlement Monitor Finds Problems in Ocwen Review

In an update on his continued oversight of the landmark agreement, Joseph Smith Jr. revealed doubts about the internal review group Ocwen is using to monitor the company's compliance with settlement terms. Smith said his team launched an investigation in May after hearing from an employee about "serious deficiencies in Ocwen's internal review group process."

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U.S. Housing Starts Dip in November

U.S. Housing Starts Dip in November

According to a report released Tuesday from the Commerce Department, homebuilders began construction on new houses in November at a seasonally adjusted annual rate of 1.03 million, down 1.6 percent month-over-month and 7 percent year-over-year. Despite the retreat in housing starts, there were a few pieces of good news in Tuesday's report.

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Community Lending Group Criticizes Government Sweep of GSE Profits

Community Lending Group Criticizes Government Sweep of GSE Profits

In a recent letter addressed to Treasury Secretary Jack Lew and Mel Watt, director of the Federal Housing Finance Agency (FHFA), the Community Mortgage Lenders of America (CMLA) urged the government to "take immediate action to cure the under-capitalization" of the GSEs by re-amending the payment terms established when they were forced to take a bailout after the crash.

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FHA Acting Chief Criticizes Government Spending Plan

FHA Acting Chief Criticizes Government Spending Plan

A $1.1 trillion congressional spending bill proposed this week may avoid another government shutdown, but officials at the Federal Housing Administration (FHA) are less than impressed at the absence of funds for certain agency initiatives. "We are deeply disappointed programs that could have served millions of families will not be permitted under the bill," said Acting FHA Commissioner Biniam Gebre in a statement Thursday.

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