A House Democrat proposes a bill to lower the cap on the Mortgage Interest Deduction. Meanwhile, could Sen. Sherrod Brown succeed Tim Johnson as Senate Banking Committee Chair?
Fannie Mae may be having second thoughts about selling nonperforming loans into the secondary market where cash-rich investors are waiting with bated breath.
In spite of the influx of new human resource assets, banking regulators have a mixed effectiveness when it comes to compliance with their own Dodd-Frank obligations.
A federal employee union and the Department of Housing and Urban Development have agreed to implement a seven-day employee furlough because of a severe mandatory reduction in HUDs budget in FY 2013. The seven furlough days, which also will affect FHA operations, will apply to HUDs entire 9,100-person work force and will be spread out to one for each pay period beginning May 24. HUD initially proposed a 13-day furlough plan, which was to start May 10, but agreed to reduce it to seven days and to move the start date to May 24. Under an agreement between HUD and the American Federation of Government Employees Council 222, furlough days will occur on ...