The Senate voted 72-13 on Saturday to pass a landmark housing bill that will provide up to $300 billion in new FHA money for distressed homebuyers and create a new, tougher regulator for Fannie Mae, Freddie Mac, and the other housing GSEs. President Bush is expected to sign the bill by midweek. The House passed the bill last week. Among other things, the "Housing and Economic Recovery Act of 2008" permanently raises the Fannie/Freddie loan limit to $625,000 and bans downpayment assistance programs in regard to Federal Housing Administration loans. It also allows for the Treasury Department to invest in Fannie/Freddie securities, if need be. "For Americans out there today with distressed mortgages and worried about their economic future, we hope this legislation could be the first piece of good news in a long time," Senate Banking Committee Chairman Christopher J. Dodd, D-Conn., told reporters over the weekend.
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While existing home sales aren't measured in GDP, many of the things which come along with it are, and those are likely to start trending down, First American said.
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While foreclosure numbers in the first six months of this year were up compared to 2024, starts eased as the spring progressed, according to Attom.
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The merger of the firm's lending arm and Figure Markets is a reaction to a thawing regulatory environment.
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The legislation is a direct response to HUD's effective elimination of the PAVE task force and comes amid ongoing debates over DEI policies in the federal government.
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The Indiana loan officer was previously sued by Ruoff Mortgage for fraudulent originations it estimated would cost the company over $1 million to repurchase.
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The new arrangement will allow Blend customers to have access to Doma's artificial intelligence-powered instant decisioning title insurance technology.
July 18