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Tag Archives: Senate Banking Committee

Risk Retention Rule Nearing Completion

Federal Reserve governor Daniel Tarullo echoed Gruenberg's statement, though he was less concrete on a timeline: "I don't know whether I'd say by the end of the year, but I think we're definitely in the home stretch." As it was proposed in 2011, the rule originally called for securities issuers to hold on to 5 percent of a mortgage's risk after selling it unless the borrower made a 20 percent down payment.

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Castro Begins HUD Confirmation Hearings

Appearing before the Senate Banking Committee for his nomination hearing, Julian Castro, whose work in San Antonio includes an initiative to spark private investment for the production of thousands of additional housing units in the city in 2014 alone, opened his testimony with reassurances that his leadership would have HUD focusing on "outcomes, not only inputs."

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CFPB Director Gives Report to Senate Banking Committee

CFPB Director Richard Cordray appeared before the Senate Committee on Banking, Housing, and Urban Affairs Tuesday morning to give the Semi-Annual Report of the Consumer Financial Protection Bureau. At the hearing, a myriad of topics were discussed, including mortgages, student loans, as well as proposed data collection efforts for the National Mortgage Database.

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Plans to Wind Down Fannie and Freddie Move Forward

Committee chairman Tim Johnson (D-South Dakota) and ranking member Mike Crapo (R-Idaho) of the Senate Banking Committee announced Tuesday plans to move forward on a new proposal to wind down Fannie Mae and Freddie Mac in favor of a new government backstop for private financiers.

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