Tag Archives: Housing Policy Council

In a letter to Mike Johnson, Speaker of the United States House of Representatives, 11 housing organizations have issued a letter to Congress to extend the authority of the NFIP by ensuring other vital housing programs do not lapse on November 17.

Attorney Rich Haber of McCalla Raymer Leibert Pierce discusses the impact of New York’s Foreclosure Abuse Prevention Act on the industry.

From regulatory scrutiny to the changing needs and preferences of borrowers, mortgage servicers have a lot on their plate in 2022. A pair of recent Five Star webinars examined the best ways forward.

As the public comment period came to a close, the NMSA joined the MBA and Housing Policy Council to express support for FHA’s adjustments to the Claims Without Conveyance of Title program.

At a Senate Committee Hearing on Sen. Mike Crapo’s housing finance reform outline, experts gave their opinions on how best to bring about a more sustainable market.

The Financial Services Roundtable has appointed Ed DeMarco to head its Housing Policy Council. DeMarco has previously served at FHFA, the Treasury Department, the Milken Institute, and the Social Security Administration. He takes the helm starting June 1.

The Center for Responsible Lending, a nonprofit group dedicated to protecting consumers from predatory lending practices, and the Financial Services Roundtable, a group of representatives from the nation's largest financial institutions, have come together to ask Congress to extend the Mortgage Forgiveness Debt Relief Act, which will otherwise expire at the end of this year. The two groups argue that if lawmakers fail to act, it will make it difficult for struggling homeowners to accept short sale, and even loan modification, offers.

Organizations from every corner of the industry are weighing in on the administration's proposal to reform the nation's housing finance system. A number of groups are throwing their support behind the long-term reform option that calls for a group of private companies to provide guarantees for well underwritten mortgage securities, and the federal government to offer investors a type of reinsurance on these bonds. There are some, though, who say even this more prudent approach will raise borrowing costs and push small businesses out of the market.

For decades the GSEs have made it possible for many people to achieve their homeownership goals by reducing the cost of credit and making it more readily available. But in light of the recent financial meltdown, banks and other corporations are calling for reform that they say the Dodd-Frank Act didn't cover. The government is set to release a report on the future of Fannie and Freddie in the coming weeks, but market participants have low expectations for a definitive solution in the report.