Faxing income verification requests to the IRS may soon be a thing of the past as a bill seeking to modernize IRS processes has found strong support in Congress.
A U.S. Supreme Court ruling last week involving the Fair Debt Collection Practices Act and foreclosures in certain states could prompt legislation from Congress.
Sen. Elizabeth Warren, D-MA, introduced legislation last week to make significant changes to the housing-finance market. The bill is essentially dead on arrival given the current makeup of Congress, but it signals some priorities for Democrats as they look to win elections in 2020.
As policymakers evaluate systemic risk in the housing-finance market and act to avert the next crisis, they should avoid taking measures that would force market share away from nonbanks, the Mortgage Bankers Association cautioned.
Several new appointees to the House Financial Services Committee are likely to focus on important issues in housing finance, particularly affordable housing and fair lending, based on their past experiences.
As a new era of oversight begins, Rep. Maxine Waters, D-CA, chairwoman of the House Financial Services Committee, is aiming for reform of credit reporting agencies.
On Friday, just two days before the Congress recessed for the holidays, House Committee on Financial Services Chairman Jeb Hensarling, R-TX, surprised industry observers by holding the long-delayed hearing on his pet project, “The Bipartisan Housing Finance Reform Act of 2018.”
Legislation is needed to establish a digital registry system for mortgages and titles, according to two industry analysts, who recently released the Simplified Mortgage and Recorded Title Act, a proposed bill they claim will help prompt the return of a robust private secondary market for mortgages. The proposed legislation was drafted by William Fry, the sole proprietor of Greenwich Capital, and Robert Hockett, a professor at Cornell Law School. Prospects for the SMART Act look ...
Rep. Jeb Hensarling, R-TX, had planned to finish his House career with a hearing on housing-finance reform focusing on a bipartisan plan that could get new legs in the next Congress.
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