The House Financial Services Committee last Thursday passed the Housing Reform Act of 2007 (H.R. 1427) by a vote of 45 to 19. The bill would provide for an independent regulator of the GSEs, create an Affordable Housing Fund to support rental housing and homeownership for very low-and low-income families. The proposed regulation would also raise the conforming loan limit balance. The next step was to send the bill to the House of Representatives for a vote. If it clears that hurdle, it's on to the Senate for a vote. Once it passes through the Senate, President George W. Bush could then sign it into law. Resistance against the bill is expected as opponents have sought even stricter oversight and may look to alter the language of the existing bill.
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Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
April 24 -
The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
April 24 -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24 -
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
April 23 -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
April 23