Home >> Tag Archives: Politics (page 10)

Tag Archives: Politics

Cassidy Turley Warns of Fiscal Cliff’s Impact on CRE

What does the commercial real estate sector have to look forward to in the coming year? Not much, if the fiscal cliff isn't averted, according to a study from commercial real estate (CRE) services provider Cassidy Turley. While dropping over the fiscal cliff would likely cause some serious problems for CRE, the firm also predicts a successful resolution of the problem could build on 2012's gains in GDP and employment, propelling the economy (and the office market) further forward.

Read More »

Industry Reps Call for Preservation of Mortgage Interest Tax Deduction

As Washington engages in a standoff over budgetary proposals to avert the fiscal cliff, several industry professionals and associations are calling upon lawmakers to avoid slaughtering what was once thought to be a sacred cow: the mortgage interest tax deduction (MID). While many housing professionals view the deduction as a break for homeowners and an incentive for others to purchase their own homes, critics call the MID a "subsidization of the real estate industry."

Read More »

Report: White House Preparing to Replace DeMarco

Edward DeMarco's days directing the Federal Housing Finance Agency (FHFA) may be numbered, according to a report from The Wall Street Journal. "People familiar with the discussions" told The Wall Street Journal the White House is preparing to nominate a new director. According to those sources, administration officials are still in the process of gathering names for potential nominees. DeMarco has no shortage of nemeses both in and out of Washington, though he's not without supporters.

Read More »

Consumer Confidence Takes a Dive Over Fiscal Cliff Concerns

A preliminary report from Thomson Reuters and the University of Michigan shows consumer confidence took a major hit to start December. The Thomson Reuters/University of Michigan Index of Consumer Sentiment fell to 74.5, a substantial drop from November's promising 82.7. The median forecast from economists polled by Reuters was 82.4. Richard Curtin, chief economist for the survey, said the decline stems from worries over Washington's apparent lack of progress in fiscal cliff negotiations.

Read More »

HUD Secretary Testifies on Potential FHA Bailout

In a testimony before the Senate Banking Committee on Thursday, HUD Secretary Shaun Donovan defended the Federal Housing Administration's (FHA) recent role in the housing market and the steps the agency has taken to avoid a possible bailout. In an annual report issued to Congress in mid-November, HUD revealed the capital reserve ratio of FHA's Mutual Mortgage Insurance (MMI) Fund had fallen to -1.44 percent (representing -$16.3 billion) based on data from an independent actuary.

Read More »

Report: Elizabeth Warren Selected for Senate Banking Committee

A month before her swearing-in, Senator-elect Elizabeth Warren (D-Massachusetts) is already making waves in Washington. The Huffington Post reports Warren has been selected to fill a soon-to-be-open seat on the Senate Banking Committee. The position is just the latest in a string of regulatory oversight roles for Warren, who has built a political career out of being "a tough cop on the beat for Wall Street."

Read More »

U.S. House Passes Extension of G-Fee Increase for Immigration Reform

A controversial bill that would extend an increase on guarantee fees (g-fees) on mortgages backed by the GSEs or the Federal Housing Administration (FHA) has passed in the House of Representatives. The bill, H.R. 6429 (STEM Jobs Act of 2012), proposes reforms for immigrant visas offered to immigrants who possess advanced training in science, technology, engineering, or mathematics. A section added to the bill calls for a one-year extension of g-fee hikes to help pay for the program, changing the end date on the fee increases from October 2021 to October 2022.

Read More »


With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.