in News > Residential Mortgage
print the content item
As part of its housing finance overhaul, the Obama administration is reportedly contemplating proposing a fee on lenders in exchange for the federal backing of mortgages, the Wall Street Journal reports.

Reporters Deborah Solomon and Nick Timiraos write that the key challenge for policy-makers in implementing such a fee would be determining an accurate price for the fee.

At the administration's summit on real estate finance last week, U.S. Treasury Secretary Tim Geithner restated his belief that there is "a strong case to be made for a carefully designed [government] guarantee in a reformed system."

"The challenge is to make sure that any government guarantee is priced to cover the risk of losses, and structured to minimize taxpayer exposure," Geithner said in his opening remarks.

To read the full Wall Street Journal report, click here.

SOURCE: Wall Street Journal


Hutchens_id1364


Latest Top Stories

CFPB Fines Flagstar Bank $37.5 Million For Mortgage Servicing Violations

In a statement, Richard Cordray, director of the CFPB, says the action taken against Flagstar "signals a new era of enforcement to protect consumers against the cost of servicer runarounds."


Castro: It's 'Too Hard' For Most Americans To Get A Mortgage

Many borrowers, Castro said during the Bipartisan Policy Center 2014 Housing Summit, "are ready to own, but are being left out in the cold," mainly because mortgage lenders have tightened their credit policies.


Virginia Sues 13 Banks For $1.15B Over Faulty RMBS

Virginia is suing 13 banks, including Citigroup, Bank of America and Goldman Sachs, for $1.15 billion over claims the institutions misled the state's retirement system about the sale of faulty RMBS.


Freddie Mac: Great Year So Far For Apartment Construction

Construction of condominium complexes is "scant," at least in comparison to 2006, and single-family construction is just "chugging along," Freddie Mac reports.


'Access To Affordable Mortgages Act' Introduced In The House

Rep. Blaine Luetkemeyer, R-Mo., recently introduced the Access to Affordable Mortgages Act, which aims to exempt certain higher-risk loans from property appraisal requirements under the Truth in Lending Act.

Urban Lending_id1351
Hse SandyHook
Industry Resource
Play for Pink
Safeguard_id1322
SWBC_id1313