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Helping Homeowners Avoid Foreclosure

More on Helping Homeowners Avoid Foreclosure

February 24, 2011 Press Release

Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, released the following statement today after Republicans on the Committee announced their intention to defund foreclosure prevention programs:

"Republicans who support this proposal to end government-supported foreclosure prevention programs are turning their backs on their constituents and their communities who not only have been devastated by the foreclosure crisis, but who have directly benefited from government assistance. 

February 2, 2011 In The News

By Jon Prior

The Mortgage Bankers Association and Rep. Maxine Waters (D-Calif.) thanked the Federal Reserve for delaying three new rule proposals [1] Tuesday under Regulation Z.

The Fed was granted rulemaking authority under Reg Z, which took affect over the weekend and proposed the rules last year to clarify mortgage disclosures under Truth in Lending Act. The Fed said it delayed finalizing the rules, because the Consumer Financial Protection Bureau is required to review and possibly revise them again once it opens in July.

February 1, 2011 Press Release

Congresswoman Maxine Waters (D-Calif.) issued the following statement today:

"I was pleased to learn today that the Federal Reserve has decided to table two proposed regulations contained within FRB Docket No. R-1390 that would have been extremely harmful to American consumers. 

January 17, 2011 In The News

By Jon Prior

Rep. Maxine Waters (D-Calif.) said the latest misstep by JPMorgan Chase which led to improper foreclosures for military families, has pushed the industry into "crisis."

January 12, 2011 In The News

By Amanda Carey

Last week, government-backed mortgage entities Fannie Mae and Freddie Mac fined Bank of America $3 billion for selling faulty mortgages that either have, or will default into, huge losses. Now critics are calling the deal a backdoor bailout because the sum is much lower than the losses for which the bank could be held liable.

January 11, 2011 In The News

By Peter Schroeder

Rep. Maxine Waters (D-Calif.) and three other House Democrats are asking the Federal Housing Finance Agency (FHFA) how it determined what two banks should pay in recent settlements over problems with residential mortgages sold to the government-sponsored enterprises (GSEs).

On Jan. 3, Bank of America agreed to pay $2.8 billion to Fannie Mae and Freddie Mac over 787,000 loans sold to them in 2008 by Countrywide Financial, which is now owned the bank.

January 11, 2011 In The News

By Alan Zibel

Four U.S. House Democrats are raising questions about whether taxpayers are getting enough compensation for bad loans sold to Fannie Mae (FNMA) and Freddie Mac (FMCC).

The two government-controlled mortgage companies have recovered $3.3 billion for taxpayers by reaching settlements in recent weeks with Bank of America Corp. (BAC) and Ally Financial Inc.

January 11, 2011 Press Release
FHFA letter re BofA FF