The Fannie-Freddie turkey shoot
Colin Barr
August 16, 2010, 4:35 pm
The Obama administration will take its first stab at this vexing question Tuesday. Treasury's Conference on the Future of Housing Finance will bring together bankers, investors, housing experts and policymakers in search of a fix for the government-sponsored mortgage investors, which have consumed nearly $150 billion of taxpayer support since their September 2008 takeover.
The Senate officially passed their financial reform bill, S 3217 Restoring American Financial Stability Act by a vote of 59/39. According to reports they changed it into an amendment to the House’s bill HR 4173. There are now effectively two different versions of the same bill. One passed by the Senate and another passed by Congress. In order for this bill to become law the House and Senate have to convene a committee to assimilate the two versions into one. It will then still require the signature of the President.
Note: ** Be sure to pay close attention to 'Loan Originator Compensation' **
Join us for lunch on April 26th 2010As Congressman Scott Murphy discusses legislative issues pertaining to:BANKING - REAL ESTATE and HOMEOWNERSHIP!For more information please click 'read more'.
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By Tami Luhby, senior writer
January 28, 2010: 6:59 PM ET
NEW YORK (CNNMoney.com) -- Under fire for the low number of people receiving long-term mortgage help, the Treasury Department on Thursday announced new guidelines that will require applicants to provide all paperwork before getting a trial modification.
The new policy will make it harder for troubled homeowners to start the process, but it should make it easier for them to qualify for permanent assistance under President's Obama foreclosure prevention plan.
Note: NY Superintendent of Banks Richard Nieman contributed to this article.
By Jennifer Liberto, senior writerJanuary 11, 2010: 4:42 PM ET
New York (CNNMoney.com) -- The White House is considering a tax on financial institutions to ensure that taxpayers who bailed out banks get paid back, a senior administration official said Monday.
The law that created the $700 billion Troubled Asset Relief Program empowered the president to ask Congress to recoup money if bailouts were not paid back in full.