Tag Archives: U.S. House of Representatives

Earlier this week, the U.S. House of Representatives passed S. 2036 by voice vote placing a cap on the salaries of Fannie Mae and Freddie Mac CEOs right at the original amount of $600,000 per year. Many in the mortgage industry expressed both approval and disapproval of the House's decision when questioned about the vote.

The White House is threatening to veto a bill that calls for more transparency from the Fed as well as another piece of legislation that would allow loans in portfolio to qualify for an exemption under the Consumer Financial Protection Bureau's qualified mortgage rule, which passed in the House on Wednesday.

Fannie Mae and Freddie Mac CEOs will not be receiving the multi-million dollar pay raises proposed by their conservator, the Federal Housing Finance Agency, earlier this year. The U.S. House of Representatives passed S. 2036 by voice vote on Monday night, placing a cap on the salaries of Fannie Mae and Freddie Mac CEOs right at the original amount of $600,000 per year.

The U.S. House of Representatives voted on Thursday to pass an amendment eliminating the use of guarantee fees on mortgages backed by Fannie Mae and Freddie Mac to fund a controversial $47 billion transportation bill known as H.R. 22, or the Developing a Reliable and Innovative Vision for the Economy Act.

The U.S. House of Representatives has postponed voting for a bill that will limit the salaries of Fannie Mae and Freddie Mac CEOs due to a hefty lineup of other legislation to tend to. The vote was originally scheduled to take place last week.

The House of Representatives voted Wednesday to pass a bipartisan bill (303-121) that will provide a hold harmless grace period for the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosure Rule, which went into effect October 3.

The House of Representatives will vote next week on a bill that will provide a hold harmless grace period for the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosure Rule, which is set to go into effect October 3.

In an effort to eliminate discrimination within the HUD and DOT programs and raise awareness during pride month in June, U.S. Congressman Scott Peters (D-California) proposed an amendment on the floor of the U.S. House of Representatives requesting non-discrimination provisions and LGBT equality in federal housing and transportation programs

Tuesday’s passage of proposed amendments to the Dodd-Frank Act in the House has reheated the debate over whether the changes really serve lower-income Americans who purchase manufactured homes or opens them up to predatory lenders on a large scale.

The first measure, which passed 263-162, would alter the meaning of “high cost" mortgages for manufactured housing by exempting mortgages from the classification if the transaction is less than $75,000, the annual percentage rate is 10 percent or lower, and if the mortgage points and fees don’t exceed $3,000.