House Committee approves Mortgage Choice Act

7.6 Million Borrowers Underwater on Mortgages: Study The latest figures from CoreLogic suggest that there are more than 11 million borrowers who are underwater on their mortgages. Moreover, FHFA states that 4.6 million of these are Fannie Mae- or Freddie Mac-backed loans with 2.5 million of these having current loan-to-value ratios above 115%.

Signaling a widening gap with Democratic leadership and their panel, the House Judiciary Committee will vote this week.

House Committee Approves Financial Regulatory Legislation On May 4, the U.S. House Financial Services Committee voted 34-26 to approve the Financial CHOICE Act of 2017, a wide-ranging bill that seeks to repeal significant portions of the Dodd-Frank Act. While most of the CHOICE Act relates to banks and the financial sector, the 591-

AG settlement starts the clock on short sales While issuance of private home-loan bonds quintupled this year to $3.5 billion and is forecast to rise by as much as nine-fold in 2013, sales still pale in comparison. was joined this year by.

Mortgage banks tend to offer fewer products. If they don’t sell the loan that’s best for you, they may not tell you about it.

Fitch: Even in new forms, GSE risk-sharing bonds remain strong New ECOA rule means collateral valuation pipelines may be leaking 40% of subprime mortgages stand delinquent, can prime be next? The combination of expected interest rate increases and more subprime borrowers in the consumer lending market will spur delinquency rate rises in 2017 for auto loans and credit cards. TransUnion’s (NYSE: TRU) 2017 consumer credit market forecast also found that serious mortgage loan delinquency rates are expected to drop, while unsecured consum.o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o No x THIS ANNUAL REPORT CONTAINS STATEMENTS THAT CONSTITUTE FORWARD LOOKING STATEMENTS.A mortgage bond or mortgage-backed security is a bond that relies on a pool of mortgages for collateral. Government agencies or private companies buy up mortgages, then issue the bonds.

The House Financial Services Committee on Thursday passed the Financial CHOICE Act, a sweeping piece of GOP-backed legislation that would, if approved, gut major portions of the Dodd-Frank Act and significantly limit the power of the Consumer Financial Protection Bureau (CFPB).. As was expected, the measure passed in a party-line vote, 34 to 26.

Contents Choice. house education Financial services committee approved congressman bill approves marijuana banking bill Nsw south coast PHOENIX – Arizona high schoolers may get a little bit of extra state help getting into the colleges of their choice. house education Committee agreed Monday to spend up to $800,000 to set up an. pending home sales rise for 15th straight month

032515 - Full Committee Legislative Markup (EventID=103269) The House Financial Services Committee on Wednesday narrowly approved the Protecting American Taxpayers and Homeowners (PATH) Act, a Republican-backed housing finance reform bill that would wind down government-sponsored enterprises (gses) fannie Mae and Freddie Mac within five years, replacing them.

The expanded summary of the House reported version is repeated here.) Mortgage Choice Act of 2017 (Sec. 2) This bill amends the Truth in Lending Act to specify that neither escrow charges for insurance nor affiliated title charges shall be considered "points and fees" for purposes of determining whether a mortgage is a "high-cost mortgage."

This past Thursday, by a vote of 31-21, the House Appropriations Committee approved the fiscal year 2018 Financial Services and General Government Appropriations bill.. In addition to multiple provisions to reform the CFPB, the bill contains a provision intended to override the Second Circuit’s opinion in Madden v.

ACLU pushes to slow mass foreclosure docket in Florida And early this year, the FHFA dropped a $5.95 a month per loan fee to lenders in most states but left it in place in Florida because of the state’s slow foreclosure process. Backlog and bad paperwork

House Committee approves Mortgage Choice Act. Ben Lane is the Editor for HousingWire. In this role, he helps set a leading pace for news coverage spanning the issues driving the U.S. housing economy and helps guide housingwire’s overall direction.