Mortgage

ABA Submits Recommendations for Housing Finance Reform

As part of the banking industry’s continuing response to President Trump’s executive order outlining “core principles” for financial regulation, ABA submitted two white papers to the Treasury Department today with recommendations for reforming current mortgage lending rules and regulations and the government-sponsored enterprises Fannie Mae and Freddie Mac.

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FHFA: HARP Refinances Down as Rates Climb

More than 510,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the first quarter, with 13,425 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said today.

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Carson Signals FHA Policy Shift on PACE Loans

Housing and Urban Development Secretary Ben Carson signaled today that the administration may revisit an Obama-era policy on Property Assessed Clean Energy, or PACE, loans, a controversial financial product that allows homeowners to pay for energy-efficient retrofitting -- such as solar panels and high-efficiency air conditioners -- through their property tax assessments.

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HUD Seeks Industry Feedback on Regulatory Burden

Implementing the president’s executive orders on regulatory reform, the Department of Housing and Urban Development is seeking public and industry feedback on HUD regulations that may be outdated, ineffective or unnecessarily burdensome.

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Watt Testifies Before Senate Committee

At a hearing before the Senate Banking Committee today, FHFA Director Mel Watt highlighted the need for housing finance reform, noting that Congress must decide the future of Fannie Mae and Freddie Mac, including whether or not the enterprises should receive backing from the federal government.

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Fed Survey: Banks Continue to Tighten on CRE Lending

Bankers continued tightening credit for commercial real estate and certain consumer loans in the first quarter of 2017, while easing slightly on commercial and industrial lending, according to the Federal Reserve’s latest senior loan officer survey released today.

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