Mortgages

WASHINGTON — Bankers received mixed news Thursday from Capitol Hill, as the House voted 357 to 70 to approve a sweeping credit card reform bill, while the Senate rejected a measure that would have let judges modify mortgages in bankruptcy.

WASHINGTON — The House Financial Services Committee passed a mortgage reform bill 49 to 21 on Wednesday, sending it to the full House for consideration next week.

WASHINGTON — Senate Democratic leaders are trying to force a vote this week on a bill that would let bankruptcy judges modify mortgages — even though they do not appear to have enough support to pass it.

WASHINGTON — The Obama administration is expected to announce details this week on a supplement to its foreclosure prevention plan designed to address the problem of second mortgages, sources said.

WASHINGTON — Lawmakers at a House Financial Services Committee hearing Thursday appeared open to moderating mortgage reform legislation after complaints that it would reduce lending.

WASHINGTON — Lawmakers returning from Easter recess this week will tackle a host of reforms that could influence the future of banking, including stiffer mortgage laws, broader bankruptcy privileges and reining in "too big to fail" institutions.

WASHINGTON — The Treasury Department and federal regulators released guidelines Wednesday on how banks should conduct loan modifications.

WASHINGTON — Federal regulators are expected to release guidelines Wednesday that detail how lenders and servicers should conduct loan modifications — a critical step that will effectively kick off the Obama administration's $75 billion foreclosure prevention plan.

A House vote on mortgage bankruptcy reform was derailed Thursday after moderate Democrats won some last-minute leverage through Sen. Richard Durbin.

WASHINGTON — A key lawmaker is weighing a major concession to the financial services industry on legislation that would allow judges to rework mortgages in the bankruptcy process.

Fannie Mae and Freddie Mac would take on a much larger role under the housing plan President Obama outlined Wednesday, pushing into the future any attempts to privatize or liquidate them, observers said.

WASHINGTON — The Obama administration did not make the same mistake twice.

WASHINGTON — The Obama administration announced a larger-than-expected program Wednesday designed to help up to 9 million homeowners avoid foreclosure.

WASHINGTON — President Obama met late Friday with top banking regulators to help hash out a plan for preventing foreclosures, including a national loan modification standard aimed at giving servicers a safe harbor from investor lawsuits.

WASHINGTON — The Obama administration is working with banking regulators to develop interagency guidance that would serve as the government's broadest approach yet to modifying troubled loans, American Banker has learned.

As the banking industry continues to try to narrow the scope of any mortgage bankruptcy legislation, a key ally in their battle might be Sen. Evan Bayh.

WASHINGTON — The House Judiciary Committee's vote for mortgage bankruptcy reform legislation Tuesday offered industry lobbyists little sign of hope they can narrow the bill, but on Wednesday they pledged to keep fighting.

The Federal Reserve Board on Tuesday said it will require loan modifications on mortgage assets that were held by banks that defaulted on their discount window borrowings.

Banking lobbyists still say they have a shot at narrowing mortgage bankruptcy reform, even though Democratic leaders appear poised to include it in broader legislation.

WASHINGTON — Six months after it was created as part of the July housing bill, a program to help cities and states buy foreclosed real estate from banks appears to finally be getting off the ground.