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House Financial Services Committee

Bankers Fighting Attempts in Washington for New Regulations

by Moe Bedard

WASHINGTON (Dow Jones)–Industry lobbyists are raising red flags over a measure that would require mortgage lenders and securitizers to retain a portion of the credit risk of loans for sale to investors.
The proposed requirement is meant to ensure lenders adhere to solid underwriting standards and don’t fraudulently underwrite loans they don’t intend to hold on [...]

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HOUSE PASSES BILL INTRODUCED BY CONGRESSWOMAN WATERS TO HELP COMMUNITIES HIT HARDEST BY FORECLOSURE CRISIS

by Moe Bedard

Washington, DC – The U.S. House of Representatives acted today to help communities hit hardest by the housing foreclosure crisis, passing legislation introduced by Congresswoman Maxine Waters (CA-35), the Chairwoman of the Housing and Community Opportunity Subcommittee.
 
By a vote of 239-188, the House passed The Neighborhood Stabilization Act (H.R. 5818), which authorizes a $15 billion [...]

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Economic and Housing Rescue Legislation Introduced in the House

by Moe Bedard

 Mark up of both measures set for April 23rd and 24th
Washington, DC – In response to the nationwide economic downturn caused by the housing and credit crisis, members of the House Financial Services Committee today introduced legislation to combat the unprecedented rise in foreclosures, and the associated impact on cities and states.  The legislation first [...]

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