Mortgages

WASHINGTON — Republicans launched an-all-but-certain-to-lose fight Thursday to stop a foreclosure rescue bill during its first round of debate in the House Financial Services Committee.

WASHINGTON — As the House Financial Services Committee starts voting today on a bill designed to stabilize mortgage markets, even supporters concede key issues remain unsettled.

WASHINGTON — Despite continuing Bush administration opposition to a plan from top Democrats that would significantly expand the government's role in fighting the housing crisis, the head of the agency at issue appears open to a compromise.

WASHINGTON — A fight is brewing over whether and how much national banks and thrifts must comply with state laws designed to delay or prevent foreclosures.

WASHINGTON — Democratic banking committee leaders, the Bush administration, all three presidential candidates, and most of the federal banking agencies embraced the concept last week of expanding the government's role in combating the credit crisis.

WASHINGTON — Sen. John McCain — who just two weeks ago resisted broader intervention to stem the housing crisis — changed tack Thursday, proposing a plan that would ask the government to insure delinquent subprime loans.

WASHINGTON — Senate Banking Committee Chairman Chris Dodd's plan to expand the government's role in stemming the housing crisis hit new obstacles Thursday as two top panel members signaled their opposition.

Of the 140,562 subprime adjustable-rate mortgages scheduled for a rate reset in January and February, only 2%, or 3,364 loans, received a five-year fast-track modification, according to statistics the Hope Now alliance released Thursday.

WASHINGTON — Despite an alternative plan offered by the Bush administration to expand the Federal Housing Administration's role in combating the housing crisis, House Republicans appeared wary Wednesday of extending the government's risk any further.

WASHINGTON — The Senate is expected to pass a broad bipartisan housing package today, but observers say the measure faces a tougher road in the House, where it is likely to undergo significant changes.

Rep. Maxine Waters, the chairwoman of the House Financial Services housing subcommittee, introduced a bill Wednesday that would ban foreclosures unless lenders and services made "reasonable" efforts to modify mortgages.

WASHINGTON — After scrambling through the night and into Wednesday, Republican and Democratic senators reached a deal on a housing stimulus bill that would leave out some of the most aggressive measures, including a provision to let bankruptcy judges rework mortgages.

Republican and Democratic senators agreed Tuesday to draft bipartisan legislation aimed at stemming foreclosures, avoiding an almost-certain defeat of a Democratic bill opposed by GOP members.

WASHINGTON — Though it may not be the sweetheart deal they would prefer, the financial services industry is largely open to an effort by congressional Democrats to set up a government-backed refinancing program to insert a floor under falling housing prices.

WASHINGTON — Presidential hopeful John McCain made his first personal foray Tuesday into the debate over how to stem fallout from the housing crisis, but did little to clear up uncertainty about what remedies he would support if he wins in November.

WASHINGTON — House Financial Services Committee Chairman Barney Frank is moving forward on legislation designed to encourage servicers to renegotiate more mortgages by shielding them from investor lawsuits.

WASHINGTON — Hammered by bad publicity and rising foreclosures, the financial services industry is moving toward broader loan workout efforts.

The Treasury Department-initiated plan to fast-track loan modifications would save only 3% of at-risk homes from foreclosure, according to a report the Center for Responsible Lending released Monday.

WASHINGTON — Efforts to tame the housing crisis by modifying troubled subprime loans have exposed a fracture between several of the nation's largest banks and the government-sponsored enterprises.

WASHINGTON — While the financial services industry scrambles to come up with data to prove subprime loans in danger of default are being modified to stave off foreclosures, state and federal lawmakers are considering whether to compel such reporting.