Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (06/15/2012)
  • WASHINGTON (6/18/12)--Fannie Mae and Freddie Mac have completed more than 2.3 million foreclosure prevention actions since the start of their conservatorship in 2008, including 1.1 million permanent loan modifications, the Federal Housing Finance Agency (FHFA) announced Friday. These actions, designed to help borrowers stay in their homes, are detailed in the FHFA's first quarter 2012 Foreclosure Prevention Report, also known as the Federal Property Manager's Report. The report also indicates that nine months after modification, less than 15% of loans modified in the second quarter of 2011 had missed two or more payments. Half of all borrowers who received loan modifications in the first quarter had their monthly payments reduced by more than 30%, and one-third included principal forbearance. The report features an interactive Borrower Assistance Map for Fannie Mae-and Freddie Mac-owned mortgages, with information as of March 31 on delinquencies, foreclosure prevention activities, Real Estate Owned (REO) properties and refinances in each state …
  • WASHINGTON (6/18/12)--The Senate Appropriations Committee Thursday approved a $308 million budget for the Commodity Futures Trading Commission (CFTC). The funding bill was approved along party lines in a 16-14 vote. The spending package is about a $103 million increase from the CFTC's current $205 million budget. Last week the House Appropriations Committee approved a $180.4 million budget for the CFTC (American Banker June 15). The Senate appropriations bill also includes $1.57 billion in funding for the Securities and Exchange Commission. That figure represents $245 million increase from the agency's current budget, and $200 million more than the House Appropriations Committee approved. Last week, CFTC Chairman Gary Gensler said the agency needs the additional funding to oversee the swaps market, which is eight times larger than the futures market it has traditionally overseen. "At this funding level, the CFTC will have sufficient cops on the beat to promote swap market transparency, to lower risk to the financial system, and to help protect the American people from future bailouts of the financial industry," Gensler said …


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
9 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
11 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
11 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
13 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
14 hours ago