The Fed will soon issue a proposal to loosen capital requirements for bank holdings of mortgage servicing rights and a proposal loosening capital requirements for mortgages held in portfolio by banks.
The House approved legislation this week aimed at increasing housing supply. Before the vote, President Trump called for an additional provision that wasn’t included.
Ranking Member Maxine Waters, D-CA, praised the House's bipartisan effort to pass the Housing for the 21st Century Act, but said one bill isn't enough to fix the housing affordability crisis.
The AARP Foundation filed a class action lawsuit against Celink, Finance of America Reverse and Carrington Mortgage Services claiming that they unlawfully charged home equity conversion mortgage borrowers prohibited fees.