Tag Archives: Government

As companies brace themselves for what a prolonged shutdown could mean, Ginnie Mae announced on Sunday that its operations will continue despite the shutdown

The mortgage industry is likely to see some immediate and far-reaching effects if the Senate does not reach enough votes to extend the Federal Budget to February 16.

With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry. Access to tax documents and other government paperwork may prove difficult in the event of a shutdown. CNBC noted that “non-essential” employees, such as those that process paperwork through the Internal Revenue Service, would be furloughed during a shutdown, causing roadblocks for those applying for mortgages.

Jeb Hensarling first introduced the Financial CHOICE act last summer, in response to the 2010 Dodd-Frank act. The president’s team has already indicated support of the Financial CHOICE Act, which, among other things, would modify aspects of Dodd-Frank and help to reform the Consumer Financial Protection Bureau.

According to the Federal Open Market Committee, the economy is expected to expand at a moderate pace, which could spark a rate increase sooner than anticipated. This question will be answered at the FOMC meeting this week.

Cuts of $6 billion to HUD budget would prevent big-ticket repairs to public housing and reduce number of vouchers for low-income families. The plan would also cut HUD salaries by 5 percent.

The case, as previously reported by DS News, sees New Jersey-based lender PHH Corp. trying to overturn a $109 million penalty issued by the CFPB in June 2015 over alleged violations of the Real Estate Settlement Procedures Act.

The executive order, signed on Friday, calls for each federal agency to create a task force to review existing regulations and make recommendations about which should be repealed or modified, according to CNBC.

The 30-day mark for President Trump Administration has come and gone, so DS News decided to take stock of what has been accomplished in the areas that affect our readers the most—housing and mortgage.

Neel Kashkari, President of the Federal Reserve Bank of Minneapolis and former Assistant Secretary of the Treasury for Financial Stability, spoke about regulating banks, the Trump administration, and mortgages in Golden Valley, Minnesota.