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More on Housing

April 14, 2011 In The News

By Dina ElBoghdady

Three federal agencies announced agreements with the nation's largest mortgage servicers Wednesday that aim to stem shoddy foreclosure practices. But the plans do not immediately impose financial penalties on the companies or force them to reduce the mortgage debt for troubled borrowers.

April 13, 2011 In The News

By Lorraine Woellert

The 14 largest U.S. mortgage servicers must pay back homeowners for losses from foreclosures or loans that were mishandled in the wake of the housing collapse, the first of a set of sanctions regulators are seeking against the companies.

The settlement announced today between servicers and banking regulators could help the U.S. Justice Department determine the size and scope of fines for the flawed practices, regulators said.

April 13, 2011 Press Release

Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, released the following statement today:

April 5, 2011 In The News

by Jon Prior

Members of the House Financial Services Committee want more information on how Fannie Mae and Freddie Mac contract with companies charged with managing and reselling previously foreclosed homes, known as REO.

Rep. Maxine Waters (D-Calif.) introduced an amendment to eight bills on reforming the two government-sponsored enterprises that would require the Federal Housing Finance Agency Inspector General to report on the REO selection process and recommend how to improve it.

April 5, 2011 Committee Remark
Ranking Member Maxine Waters (D-Calif.) delivered the following opening remarks:

"Mr. Chairman, I'd like to thank you for convening this mark-up this morning, and for this Subcommittee's continued attention to the state of the Government Sponsored Enterprises (GSEs).

April 4, 2011 In The News

By Lorraine Woellert

The National Association of Homebuilders and the National Association of Realtors asked House Republicans to delay a vote on a package of bills to reduce the dominance of Fannie Mae and Freddie Mac.

March 31, 2011 Committee Remark

Thank you, Mr. Chairman, for organizing this hearing.

This is now our third hearing on GSE reform during the 112th Congress.  As I have stated at those previous hearings, I am committed to working with my colleagues on a practical, comprehensive reform proposal to reshape our housing finance system. 

March 30, 2011 In The News

By Alan Zibel and Jeffrey Sparshott

The U.S. House voted Tuesday to end the Obama administration's main effort to assist troubled homeowners, with Republican lawmakers arguing that the program has failed to ease the foreclosure crisis.

The attempt to shut down the administration's flagship foreclosure-prevention effort, the Home Affordable Modification Program, or HAMP, is the last of four Republican attempts to shut down Obama administration efforts to prevent foreclosures or stabilize troubled neighborhoods.

March 30, 2011 In The News

by Meredith Shiner

The House Tuesday voted to eliminate the last of four Obama administration housing programs, in an effectively symbolic vote to end the controversial Home Affordable Modification Program.

March 30, 2011 In The News

by Alan Fram

House Republicans pushed through legislation Tuesday to terminate an underachieving Obama administration program designed to reduce mortgage payments for homeowners in danger of losing their homes to foreclosure.

Most Democrats, while acknowledging that the Home Affordable Modification Program has fallen short of original goals, protested the vote to kill it. The White House, in a statement, said that if the bill ever reaches President Barack Obama's desk, his senior advisers would recommend he veto it. The vote was 252-170.