Tag Archives: mortgage reform

NAMB Joins Forces With Other Financial And Real Estate Industry Associations To Support Biggert's Proposal For HUD's Revised RESPA Rule

by Mark Madsen on 15. Oct, 2009 in Government Action

via: NationalMortgageProfessional.com

In an Oct. 14 letter to the U.S. Committee on Financial Services, Reps. Barney Frank and Spencer Bachus, the National Association of Mortgage Brokers (NAMB), along with the American Bankers Association, Consumer Bankers Association, Consumer Mortgage Coalition, Financial Services Roundtable, Housing Policy Council, Mortgage Bankers Association, National Association of Federal Credit Unions and the Real Estate Services Providers Council Inc., have shown their support [...]

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How Long Until H.R. 1728 Makes It Through The Senate?

by Mark Madsen on 20. May, 2009 in Mortgage News, Politics

As we’ve reported earlier this week, H.R. 1728: The Mortgage Reform and Anti Predatory Lending Act has already passed the House and is making its way to the Senate.
While mortgage originators are still trying to disseminate the details of this new proposed legislation, one of the main concerns on everyone’s mind is the amount of [...]

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H.R. 1728, Mortgage Reform Act Moves Through House

by bill rice on 08. May, 2009 in Government Action

Image via Wikipedia

Mortgage reform is hip and cool in a Congress that wants to be seen by constituents as “agents of change.” And change we are going to get–this will fundamentally reshape how mortgage brokers and lenders do business. I guess the most interesting story line in this is the tentative acceptance being handed out [...]

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Mortgage News You Should Read – 2009-05-01

by bill rice on 01. May, 2009 in Mortgage News

Image by Getty Images via Daylife

Update on H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act
H.R. 1728 has left the House Financial Services Community and is headed to the floor of the House of Representatives, next week. Several in the mortgage industry are cautioning the impacts it will have on the mortgage lending:
In testimony Thursday before [...]

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Fed Backs Off on YSPs after Listening to Consumers

by gina gardner on 14. Jul, 2008 in Mortgage News

We should be very grateful that the Fed officials don’t have to worry about re-election and pandering to the uninformed. Instead of running around characterizing lenders as evil just to suck up to voters, the Fed actually did a little homework. And in its study the fed discovered that, gawrsh, consumers actually don’t give a [...]

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Income: Define "Proof"

by gina gardner on 08. Jul, 2008 in Mortgage News

A Time article entitled Fed to Curb Shady Home-Lending Practices claims that the Fed seeks to ”bar lenders from making loans without proof of a borrower’s income.” Is this really necessary? Fed economist William Emmons concluded in a recent study that intervention makes housing market conditions more volatile and artificially keeps the market from correcting itself. Self-correction [...]

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