Housing and Foreclosures
More on Housing and Foreclosures
Washington, DC —Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, issued the following statement regarding the public announcement of a new settlement between the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and 10 mortgage servicers without first briefing the Oversight Committee as requested on a bipartisan basis last week:
Washington, DC – Today, the Senate Veterans Affairs Committee (SVAC) passed measures similar to legislation introduced by Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, that significantly expands foreclosure protections for servicemembers, their families, and disabled veterans.
Washington, DC —Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, issued a statement today in response to the decision by the Federal Housing Finance Agency to forbid Fannie Mae and Freddie Mac from reducing principal on mortgages even though such modifications would prevent larger losses resulting from foreclosures.
Washington, DC —A Government Accountability Office (GAO) report issued yesterday found that financial institutions are failing to protect servicemembers from improper foreclosures and are not reducing their mortgage interest rates in compliance with the law.
Washington, DC - Ranking Member Elijah E. Cummings commended the Consumer Financial Protection Bureau (CFPB) and housing regulators for issuing joint guidance yesterday to protect military homeowners who have received Permanent Change of Station orders.
The interagency guidance is intended to ensure that mortgage servicers comply with consumer laws and regulations when a servicemember is ordered by the military to relocate.
Washington, DC—Today, the House passed by a vote of 394 to 27 an amendment to the National Defense Authorization Act (NDAA) introduced by Rep. Elijah E. Cummings, Ranking Member of the Oversight and Government Reform Committee, Rep. Bob Filner, Ranking Member of the Veterans Affairs Committee, and Rep. Adam Smith, Ranking Member of the Armed Services Committee, that significantly expands foreclosure protections for servicemembers, their families, and disabled veterans.
Washington, DC —Today, the Ranking Members of three House Committees—Rep. Elijah E. Cummings of the Oversight and Government Reform Committee, Rep. Bob Filner of the Committee on Veterans' Affairs, and Rep.
Washington, DC – Tomorrow, Wednesday, May 2, Congressman Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, will speak on the state of housing in Black America at a public issues forum hosted by the National Association of Real Estate Brokers.
Washington, D.C. – Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, released the following statement in response to a speech today by Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco at the Brookings Institution on the housing market:
Washington, DC—Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Committee Member John F. Tierney called on Edward DeMarco, the Acting Director of the Federal Housing Finance Administration (FHFA), to comply with previous requests for information about his refusal to allow Fannie Mae and Freddie Mac to utilize principal reductions to address the nation's housing crisis, even though his own data show they could save U.S. taxpayers billions of dollars.