House Passes Bill to Delay Enforcement of New Mortgage Disclosures
http://www.nationalmortgagenews.com/news/regulation/house-passes-bill-to-delay-enforcement-of-new-mortgage-disclosures-1062998-1.html
Corker and Warner at BPC: GSE reform just isn’t going to happen soon
Credit sharing does not take the place of reformhttp://www.housingwire.com/articles/35271-corker-and-warner-at-bpc-gse-reform-just-isnt-going-to-happen-soon
Seven years after Fannie Mae and Freddie Mac were placed into conservatorship, there is still a lack of consensus on how to reform the GSEs. Two panels hosted by the Bipartisan Policy Center explored GSE reform, including the primary issue of conservatorship and bringing in private capital, with a focus on risk-sharing — specifically “front-end” versus “back end” — and looked more broadly at how to make housing finance more sustainable.
Standoff Between HUD and Inspector General Flares Up
http://www.nationalmortgagenews.com/news/origination/standoff-between-hud-and-inspector-general-flares-up-1062905-1.htmlThe clash between the Department of Housing and Urban Development and its inspector general over down payment assistance programs run by state or local housing finance agencies continues to heat up. In an audit released by HUD's Office of Inspector General, the watchdog said that Fremont, Calif.-based LoanDepot is charging higher interest rates on Federal Housing Administration-insured loans. The premium pricing is used to cover some of the costs of down payment assistance provided by the Golden State Finance Authority, according to the report which is dated Sept. 30. "The funds derived from a premium priced mortgage may never be used to pay any portion of the borrower's down payment," wrote Tanya Schulze, an auditor for the HUD IG based in Los Angeles.
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