Treasury report advocates slashing GSE jumbo loan ceiling

Housing Wire – "Treasury report advocates slashing GSE jumbo loan ceiling" (2-11-11) "Reducing conforming loan limits at Fannie Mae and Freddie Mac will help reduce the GSEs’ dominance in the mortgage market by driving jumbo mortgage financing back to the private sector for financing, the U.S. Treasury said in its ‘Reforming America.

Many Republicans lambasted the move as fiscally irresponsible, while some Democrats and housing-industry advocates said the. In retail product news, "Is there a doctor in the house? Sierra Pacific.

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Legislative Experts Question Legality of Treasury’s GSE Moves. In an article in National Mortgage News, two legislative experts said that the Treasury Department has exceeded its authority by keeping Fannie Mae and Freddie Mac in conservatorship for so long and taking all their profits.

In a move that virtually ends any hope that Freddie Mac and Fannie Mae will return to viability, the Department of the Treasury and the Federal Housing finance agency (fhfa) have revised the.

If you’re shopping for a mortgage in a high-cost area or buying a large home, you may need a jumbo mortgage. We help you understand the requirements and how jumbo loans are different from.

Countrywide’s Mozilo may face lawsuit over subprime mortgages LOS ANGELES (AP) – Federal prosecutors won’t file a fraud lawsuit against former Countrywide Financial chief executive Angelo Mozilo over the sale of billions of dollars’ worth of subprime loans.

IN THE UNITED STATES COURT OF FEDERAL CLAIMS. valuing Treasury’s holdings of senior preferred stock in the Federal National Mortgage. Treasury’s warrants to purchase 79.9 percent of the common stock of each GSE; and (3) calculating Treasury’s financing commitment to the GSEs..

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Recommendation: The Secretary of the Treasury should direct the deputy assistant secretary for Small Business, Community Development & Housing Policy to consider the options that stakeholders have suggested for how CRA is implemented outlined in this report–such as revising the lending and service tests, expanding CRA to include all bank affiliates and nonbanks, expanding assessment areas.

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