The Community Home Lenders of America and the MBA applauded the long-overdue passage of the bill.

Industry reaction was swift — and confused.

Higher provisions for losses in the second quarter contributed to a 14.6% sequential drop in net income for the mortgage giant.

Lower head counts at the mortgage giant reduced administrative expenses by $145 million in the second quarter, though profits were still down 9% sequentially.

The Senate Committee on Banking, Housing and Urban Affairs approved the ROAD to Housing Act on a 24-0 vote.

MBA's Megan Booth said the updated code would lead to fewer FHA- and USDA-backed properties.

Invitation Homes, one of the largest owners of single-family rental homes in the nation, said company President Charles Young has resigned.

The bill would shift the CFPB director from a voting member of the FDIC's board to a non-voting observer.

Barry Habib, the founder and CEO of MBS Highway, was appointed to the board of Fannie Mae.

The bureau noted that it wouldn’t implement the rule if it received “significant adverse comments.”