Financial Regulatory Forum

U.S. consumer bureau’s mortgage servicing rules are in the right direction despite shortcomings

August 31, 2012

By Bora Yagiz

NEW YORK, Aug. 31 (Thomson Reuters Accelus) – The Consumer Finance Protection Bureau’s proposed rules earlier this month on mortgage servicing are a step in the right direction in its efforts to uproot the malpractices that were once prevalent in the subprime mortgage market. The proposals suffer from a few shortcomings, however, not the least because the Bureau, with its “one-size-fits-all” approach, seems to have ignored the nuances between the different players within the servicing industry. (more…)

US to focus on housing stability in reform of Fannie Mae, Freddie Mac – Barr

February 1, 2010

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By Al Yoon

WASHINGTON, Feb 1 (Reuters) – The Obama administration must ensure U.S. housing market stability is retained as it reforms the nation’s two largest providers of home mortgage credit, a top Treasury Department official said on Monday.

US Rep Frank sees ending Fannie Mae, Freddie Mac in current form

January 22, 2010

WASHINGTON, Jan 22 (Reuters) – Mortgage giants Fannie Mae and Freddie Mac are likely to be abolished in their current form, a key lawmaker in the U.S. House of Representatives said on Friday.

US pay czar: Fannie Mae, Freddie Mac unique when it comes to pay

December 31, 2009

WASHINGTON, Dec 30 (Reuters) – Mortgage finance firms Fannie Mae and Freddie Mac face a unique set of problems that distinguish them from other companies receiving government aid when it comes to setting executive pay, the Obama administration’s pay czar said on Wednesday.