Congress votes to restore FHA loan limits

House and Senate leaders signed off on a conference report for a “minibus” appropriations bill that included language restoring FHA’s ability to insure loans of up to $729,750 in high cost markets through 2013. Because the minibus appropriations package also contains a continuing resolution to avoid a government shutdown and continue federal operations until Dec. …

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Senators Want Answers on Bonuses

Lawmakers Want Answers on Bonuses to GSE Execs Lawmakers on Capitol Hill are up in arms over the news that the Federal Housing Finance Agency (FHFA) approved $12.79 million in bonus pay for 10 executives at Fannie Mae and Freddie Mac. Sixty senators put their partisan differences aside and presented a united front in a …

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Dodd-Frank Legislation Extends Protecting Tenants at Foreclosure Act

Renters who find themselves indirect victims of foreclosure were not forgotten in the financial reform legislation signed by President Obama on Wednesday. The Dodd-Frank Wall Street Reform and Consumer Protections Act will extend the Protecting Tenants at Foreclosure Act (PTFA) through the end of 2014. PFTA provides renters whose landlords have lost their properties to …

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House Passes FHA Reform Bill Authorizing Higher Premiums

In a near unanimous vote of 406 to 4 Thursday, the U.S. House of Representatives passed a bill intended to replenish the coffers of the federal agency that insures mortgages against default, the Federal Housing Administration (FHA). The FHA Reform Act (H.R. 5072) enables the agency to reform its current mortgage insurance premium structure by …

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