The home-equity lending business, which has been battered almost as severely as the subprime and Alt A markets, produced a few green shoots during the second quarter of 2010. But the top commercial banking giants that dominate the sector continued to scale down their HEL portfolios. New home-equity lending, which includes... [Includes three data charts]
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Democrats in the House plan to begin work on legislation to reform the mortgage finance industry this year, setting the stage for a contentious effort during a lame-duck session after the November elections that would likely amount to a dry run before the next Congress begins in 2011. During a hearing in...
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Congress should give the Department of Housing and Urban Development a specific deadline for bringing the FHA capital reserves up to required levels, according to a new Government Accountability Office report released late last week. FHA has been working to restore its capital ratio to...
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Financial institutions are urging the Federal Reserve Board to go slowly with its plan to expand Home Mortgage Disclosure Act reporting and give priority to implementing expanded HMDA requirements under the new regulatory reform law. In a series of public hearings conducted by the Fed over the summer, financial institutions said...
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Complaints from attorneys general and members of Congress are coming to an ugly head for Fannie Mae, GMAC Mortgage and the mortgage industry in general for using questionable means to expedite the foreclosure process. JPMorgan Chase has asked courts to suspend judgments in pending foreclosure cases while it...
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Mortgage characteristics that are common in other countries but are prohibited in the U.S. by the Dodd-Frank Wall Street Reform and Consumer Protection Act are not associated with higher rates of default, according to a study recently released by the Mortgage Bankers Association. Loan features such as...
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