President Obama nominated Representative Mel Watt (D–NC) as new chief regulator to the Federal Housing Finance Agency (FHFA), replacing the current acting director Edward DeMarco. Watt has strong support from liberals in both the House and the Senate as a longtime member of the House Financial Services Committee and advocate …
The Consumer Financial Protection Bureau (CFPB) has imposed yet more regulation on the mortgage market, as required by the Dodd–Frank statute. The latest set of requirements and restrictions focuses on mortgage servicers, those who are hired by lenders to collect payments and manage other administrative aspects of home loans. Bureau …
Now that the Senate has passed its “Foreclosure Enhancement Act,” attention turns to the House, which will hold hearings on its own response to the housing “crisis.” As the Christian Science Monitor reports, “at the heart of the emerging consensus is a bigger role for the Federal Housing Administration in …
