Call for National Licensing for Mortgage Brokers
Treasury Secretary Henry Paulson calls for national licensing for mortgage brokers in an effort to guard against fraud. He also calls for clearer disclosures to borrows on the terms of their home loans.
For more information see:
Paulson Wants Stronger Oversight of Mortgage Industry
Paulson says US blueprint calls for stronger oversight of mortgage lenders
Current Housing and Mortgage Market Developments
Tags: consumer information, home sales, housing market, lenders, mortgage, mortgage application, mortgage industry changes, mortgage lenders, US economy
April 16th, 2008 at 8:09 am
Fannie Mae and Freddie Mac and other government- sponsored mortgage companies have become the backbone of the troubled US mortgage market as purely private sources of finance have all but dried up. Fannie, Freddie and Federal Home Loan Banks, a network…
April 16th, 2008 at 4:50 pm
Fannie Mae and Freddie Mac and other government- sponsored mortgage companies have become the backbone of the troubled US mortgage market as purely private sources of finance have all but dried up. Fannie, Freddie and Federal Home Loan Banks, a network of bank co- operatives, provided 90% of the financing for new mortgages at the end of 2007, according to the Office of Federal Housing Enterprise Oversight, which regulates Fannie and Freddie. Their increasing role reverses years of declining market share.