Tag: Pete Mills

Early Wednesday morning, the Senate voted along party lines to adopt a $3.5 trillion budget resolution framework for fiscal year 2022, another step toward the crafting of the actual tax provisions – including a possible minimum book tax that would impact mortgage servicing rights values – that will offset the cost of President Joe Biden’s broad infrastructure package.

Early Wednesday morning, the Senate voted along party lines to adopt a $3.5 trillion budget resolution framework for fiscal year 2022, another step toward the crafting of the actual tax provisions – including a possible minimum book tax that would impact mortgage servicing rights values – that will offset the cost of President Joe Biden’s broad infrastructure package.

Last week the Senate Banking Committee held a hearing on several housing nominees, including Julia Gordon to be HUD’s Assistant Secretary of Housing and FHA Commissioner. In other FHA news, the agency released formal waivers of provisions in two recent Mortgagee Letters that would have required servicers to halt forbearance exit reviews and re-review borrowers that already have viable home retention plans in process.

Last week the Senate Banking Committee held a hearing on several housing nominees, including Julia Gordon to be HUD’s Assistant Secretary of Housing and FHA Commissioner. In other FHA news, the agency released formal waivers of provisions in two recent Mortgagee Letters that would have required servicers to halt forbearance exit reviews and re-review borrowers that already have viable home retention plans in process.

On Tuesday, the Conference of State Bank Supervisors finalized its model state regulatory prudential standards for IMB servicers. Also last week, the House passed a number of Fiscal Year 2022 funding “minibus” bills, including one containing robust funding for HUD. And Thursday, the House Financial Services Committee passed H.R. 4616, a LIBOR transition proposal, by voice vote.

On Tuesday, the Conference of State Bank Supervisors finalized its model state regulatory prudential standards for IMB servicers. Also last week, the House passed a number of Fiscal Year 2022 funding “minibus” bills, including one containing robust funding for HUD. And Thursday, the House Financial Services Committee passed H.R. 4616, a LIBOR transition proposal, by voice vote.

On Friday, the Biden administration announced an expansion of COVID-19 mortgage loan modification options for FHA, VA and USDA borrowers who are unable to resume their mortgage payments after exiting forbearance.

On Friday, the Biden administration announced an expansion of COVID-19 mortgage loan modification options for FHA, VA and USDA borrowers who are unable to resume their mortgage payments after exiting forbearance.

Last Friday, FHFA announced the removal of the GSEs’ 50-basis-point adverse market fee in response to both industry advocacy and improved market conditions.