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Home >> Tag Archives: Politics

Tag Archives: Politics

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HUD Releases Plans for FY 2016 Budget

HUD Releases Plans for FY 2016 Budget

*+-Included in the president's newest budget is $49.3 billion set aside for HUD, a $4 billion increase over last year. In a call with reporters, HUD Deputy Secretary Nani Coloretti explained that much of the budget will be used to undo some of the cuts made as the department experienced budget restraints as a result of sequestration.

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Obama Highlights Recovery in State of the Union

Obama Highlights Recovery in State of the Union

*+-During his State of the Union address Tuesday evening, President Barack Obama did not make any substantial announcements regarding the housing market, government mortgage-backed securities, or the GSEs. However, "lower mortgage premiums" were mentioned, alongside "child care and sick leave and equal pay" as "ideas [that] will make a meaningful difference in the lives of millions of families."

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Republicans Urge Against FHA Premium Reduction

Republicans Urge Against FHA Premium Reduction

*+-Citing concerns about the Federal Housing Administration's (FHA) low capital reserve ratio and its 2013 bailout, senators Bob Corker (R-Tennessee) and David Vitter (R-Louisiana) are calling on the Obama administration to reconsider its plan to cut FHA's annual mortgage insurance premium by half a percentage point.

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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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Consumer Sentiment Rises in First-Look Reading

Consumer Sentiment Rises in First-Look Reading

*+-The Thomson Reuters/University of Michigan survey of consumer sentiment came in at a preliminary index reading of 93.8 for December, up from November's final reading of 88.8. December's report beat economists' forecasts by more than four points and puts the index at its highest level since January 2007.

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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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Mortgage Professionals Weigh in On GSE Wind-Down

Mortgage Professionals Weigh in On GSE Wind-Down

*+-In a report released Monday, the Collingwood Group said that 65 percent of lenders and other mortgage industry workers support the push for GSE reform, calling their current state of conservatorship under the Federal Housing Finance Agency unsustainable. At the same time, none of the survey respondents called for a wind-down or elimination of the GSEs.

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