|Search more Real Estate News on 98 real estate sites|
Maloney urges faster checks to homeowners, monthly updates on mortgage settlements in letter to regulators
“The IFR process has gone on for far too long. Millions of injured borrowers have been left waiting for years. That is unacceptable and it needs to end.”
WASHINGTON, D.C. – April 8, 2013 – (RealEstateRama) — Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services committee and Ranking Member of its Capital Markets Subcommittee, today wrote the Comptroller of the Currency and the Chairman of the Federal Reserve following a recently released GAO report on the Independent Foreclosure Review (IFR) process and the regulators’ disclosure in late March that it would be an additional four to eight weeks before these borrowers receive payments under the IFR settlement with major banks announced in January.
In her letter, Maloney urged that the regulators devote “additional resources to this effort so that desperately needed assistance to injured homeowners can finally begin… The IFR process has gone on for far too long. Millions of injured borrowers have been left waiting for years. That is unacceptable and it needs to end.”
In addition, Maloney asked that both regulators begin to provide monthly status updates to members of the House Financial Services and Senate Banking Committees, with solid numbers on how much direct assistance has been paid to injured borrowers in each state, how many injured borrowers in each state received direct assistance, the value and type of other assistance, such as loan modifications and forgiveness of deficiency judgments, that has been provided to injured borrowers in each state, and how many borrowers in each state have received each type of assistance.
Regulators’ March 22 letter to Maloney: maloney.house.gov/sites/maloney.house.gov/files/documents/financial/fininstitutions/20130322MaloneyResponseOCC.pdf
Maloney’s April 8 letter to regulators: maloney.house.gov/sites/maloney.house.gov/files/documents/financial/fininstitutions/20130408OCCFEDFollowup.pdf
- Maloney hails start of process to simplify mortgage disclosure forms by CFPB
WASHINGTON, DC - May 18, 2011 - (RealEstateRama) -- Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, today hailed the start of a process by the Consumer Financial Protection Bureau (CFPB) to harmonize and streamline mortgage disclosure forms required under the Truth in Lending Act and the Real Estate Settlement and Procedures Act.<...
- Maloney on bills to repeal assistance to homeowners and localities suffering in the foreclosure crisis
WASHINGTON, DC - March 10, 2011 - (RealEstateRama) -- Rep. Carolyn Maloney (D-NY) today introduced an amendment in the House Financial Services Committee to H.R. 839, "The HAMP Termination Act of 2011" sponsored by Patrick McHenry (R-NC), whose bill would abolish the “Housing Affordable Modification Program” which was established to assist three to four million homeowners in achieving mortgage...
- Maloney on New Mortgage Lending Rule
NEW YORK, NY – July 14, 2008 – (RealEstateRama) — Congresswoman Carolyn B. Maloney (D-NY), Chair of the House Financial Services’ Financial Institutions and Consumer Credit Subcommittee, released the following statement today after the Federal Reserve unveiled its final rule to overhaul the mortgage lending industry in the wake of the subprime crisis: “I applaud [...]...
- Gillibrand Urges Feds to Help Speed Up $200 Million in Delayed Insurance Payments to Sandy Homeowners
New York, NY - February 13, 2013 - (RealEstateRama) -- After an investigation by New York State’s Department of Financial Services found that banks have delayed approximately $200 million in Superstorm Sandy related insurance payments to thousands of New York homeowners, U.S. Senator Kirsten Gillibrand urged the Consumer Financial Protection Bureau (CFPB) today to review the matter and find the...
- Maloney statement on FHA Refinance Amendment
WASHINGTON, DC - March 3, 2011 - (RealEstateRama) -- Rep. Carolyn Maloney (D-NY) today introduced an amendment to H.R. 830, "FHA Refinance Program Termination Act", sponsored by Rep Robert J. Dold (R-IL), to require 500,000 additional underwater mortgages be refinanced by the Federal Housing Administration before the refinance program is terminated. Maloney made the following statement in introducing the amendment...
- Senate Democratic Leader Andrea Stewart-Cousins Urges Communities To Apply for the New NY Bridge’s $20 Million Community Benefits Program
- NYCHA residents to get swifter capital repairs and access to union jobs and training through newly signed labor agreement with building trades union
- Rose Associates Named Managing And Leasing Agent At The Nathaniel In Manhattan’s East Village On Behalf Of Wafra Investment Advisory Group, Inc.
- SL Green Signs Swatch for Balance of Retail Space at 1515 Broadway
- Taxpayer Savings from Property Tax Relief Program
- NYCOM Conference, Ribbon Cuttings and Equity Fund Forum Highlight Trip to Finger Lakes Region
- CKX Declares December 31st Record Date for Dividend of FX Real Estate and Entertainment Shares
- Jones Lang LaSalle Hires Seasoned Industrial Real Estate Professionals to Strengthen Client Services in Long Island
- First Affordable Housing Development in Brooklyn with Solar Panels
- “Green” Forum Highlights 545 Madison Avenue as Showcase of Sustainability
- New York State Senate Confirms Bill Myers to the Board of the State of New York Mortgage Agency
- New York State home sales continue to post gains compared to 2009
- Gillibrand Introduces Solar Energy Legislation
- HDC Board Approves $55.5 Million in Tax-Exempt Multi-family Housing Revenue Bonds
- Diversity Works’ Unique Model Combines Permanent Supportive Housing and Family Preservation Services