AMLA has partnered up with MortgageEducation.Com to bring continuing education to our members. … [Read More...]
Senate Banking Committee Passes THUD Appropriations Bill: The bill contains many MBA priorities and also does not include authority for HUD to charge lenders a per-loan fee to fund FHA's administrative costs. Instead, and as MBA has advocated for the last two years, the committee appropriated $13 million in specific funds to improve FHA's information technology. The measure also maintains level funding ($130 million) for FHA's administrative needs, and fully funds Ginnie Mae's staffing, training, and technology needs at $23 million. For the third consecutive year, the committee maintained a prohibition on federal funds being used to facilitate eminent domain seizures of performing loans. The committee also included $47 million for housing and homeownership counseling. You can read MBA's letter to the Committee here.
Senator Shelby Asks GAO and CBO for Input on Future of GSEs: Chairman Shelby's letter to the CBO asked for a report on the implications of the GSEs being allowed to retain more of their earnings, as well as what the implications of this increased capitalization would be on the risk borne by taxpayers, the operations of the GSEs, and the mortgage markets. The letter to the GAO asked for a report on how the FHFA's oversight has affected the market dominance of the GSEs, as well as any possible options for modifying the structure of the GSEs.