HousingWire, Mar. 15, 2017–Brena SwansonDemocrats are racing against the clock to defend the embattled Consumer Financial Protection Bureau, which has a growing pile of government and judicial scenarios at play trying to overhaul it or abolish it altogether.
Category: Top National News
Texas Lawmakers Want to Tighten Legal Loophole around ‘Wrap Mortgages’
CBS Austin (Texas), Mar. 15, 2017–Adela UchidaFour bills filed in the state legislature aim to stop so-called ‘wrap mortgages’ by tightening the legal loopholes around them.
Trump Budget Slashes HUD Funding But Keeps FHA Intact
National Mortgage News, Mar. 16, 2017–Brian Collins (subscription)President Trump’s budget released Thursday calls for slashing HUD funding by 13%, or $6.2 billion, compared with 2016 levels, a blow to many bankers who say affordable housing programs and other HUD initiatives are vital to their work.
Trump’s Budget to Defund NeighborWorks America and Other Housing Programs
HousingWire, Mar. 16, 2017–Kelsey RamirezWithin the housing market, one of the independent agencies that will be completely defunded is Neighborhood Reinvestment Corp., also known as NeighborWorks America.
Schumer Calls for Protecting Mortgage Interest Deduction
Buffalo News, Mar. 16, 2017–Matt GlynnSen. Charles Schumer, D-N.Y., is pushing back against what he sees as threats to deductions for mortgage interest and local and state property taxes.
An Ohio County Is About to Foreclose on a $5 Million Basket
Bloomberg, Mar. 16, 2017–Polly MosendzAfter languishing on the real estate market for months, a multimillion-dollar, seven-story, basket-shaped building will soon be the property of Licking County, Ohio. A foreclosure is imminent, according to local officials.
Trump Budget Could Worsen Flood Insurance Woes
National Mortgage News, Mar. 17, 2017–Brian Collins (subscription)The Trump administration’s decision to slash all funding for the flood mapping and loss mitigation efforts in flood-prone communities is getting pushback from supporters of better flood management policies.
CFPB May Fall Under New Executive Order to Reorganize Executive Branch
HousingWire, Mar. 17, 2017–Brena SwansonIt looks like the most recent executive order from President Donald Trump to reorganize the executive branch may apply to the Consumer Financial Protection Bureau.
Justice Department Turns Against CFPB in Constitutionality Case
National Mortgage News, Mar. 17, 2017–Kate Berry (subscription)The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau, but stopped short of asking for the bureau to be abolished.
Rep. Hill: It’s a Good Time to Reassess the Impact of Dodd-Frank
HousingWire, Mar. 17, 2017–Brena SwansonIn light of President Donald Trump’s budget proposal, House Financial Services Committee Majority Whip French Hill, R-Ark., said the Dodd-Frank Act merits a strong review.