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Tag Archives: House Financial Services Committee

House Subcommittee Chair Pushes for Main Street Regulatory Relief

U.S. Representative Randy Neugebauer (R-Texas) on Wednesday urged his colleagues in the House to adopt legislation to ease the regulatory burdens on non-depository financial institutions in his opening statement of a House subcommittee hearing. In the Financial Services Subcommittee on Financial ...

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Lawmakers Ask CFPB to Delay Enforcement of TILA-RESPA

Two Republican lawmakers have written a letter to the Consumer Financial Protection Bureau director asking for the delay of the combined Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) mortgage disclosure forms.

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House Committee Approves Bills to Provide Regulatory Relief for Banks

Hensarling noted the 11 bills passed by the Committee had bipartisan support and had previously been approved by either the Financial Services Committee or the House of Representatives during the 113th Congress. However, none of the bills came up for a vote in the Senate, which was then under Democratic control.

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Mortgage Insurer Compares FHA With Private Market at Congressional Hearing

If a loan defaults, FHA covers virtually 100 percent of loss, while MI covers first losses down to a stated coverage percentage. FHA’s policy may provide less incentive to ensure that loans are underwritten and serviced in a sensible and sustainable way, while MI’s policy may create a stronger incentive to better underwriting and good servicing, according to Gupta.

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Castro Responds to Questions About Effects of Defaults

While most Republican lawmakers grilled HUD Secretary Julián Castro on the recent lowering of the FHA mortgage insurance premiums and FHA's MMI Fund Wednesday during his testimony to the House Financial Services Committee, Representative Mia Love (R-Utah) opted to cover a different subject: defaults and their potentially negative effect on their respective neighborhoods.

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Watt Scheduled to Testify Before House Financial Services Committee on Tuesday

Federal Housing Finance Agency (FHFA) Director Mel Watt is scheduled to testify before the House Financial Services Committee on Tuesday in a hearing entitled "Sustainable Housing Finance: An Update from the Director of the Federal Housing Finance Agency." In his testimony, Watt is expected to defend last month's decision to lift the suspension of the allocation of Fannie Mae and Freddie Mac funds into the Housing Trust Fund and the Capital Magnet Fund. The suspension was enacted in November 2008, two months after the government seized control of Fannie Mae and Freddie Mac.

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