Skip to main content

The crux and craze of loan modification

Mar 09, 2009

Sen. Dodd proposes legislation to increase FDIC line of credit to $500 billion MortgagePress.comSenate Banking Committee, Christopher Dodd, Senate Bill 541, Federal Deposit Insurance Corporation, Ben Bernanke Senate Banking Committee Chairman Christopher Dodd introduced Senate Bill 541 to increase the borrowing power of the Federal Deposit Insurance Corporation (FDIC) to $500 billion. The FDIC's Treasury line of credit is currently limited to $30 billion. The bill follows a Feb. 2, 2009 letter from Federal Reserve Chairman Ben Bernanke to Sen. Dodd stating that the increased credit line "would allow the FDIC to respond expeditiously to emergency situations that may involve substantial risk to the financial system." The legislation, if passed, provides an alternative to the FDIC's current proposal to raise banking fees. For more information, visit www.fdic.gov.
About the author
Published
Mar 09, 2009
Rithm Capital Reports $36.5M Net Income For Q1 2025

Total funded originations for quarter for Rithm's Newrez were $11.8B, a 9% YoY increase

Apr 28, 2025
About $18.6 Million Severance Payout For First American Ex-CEO Kenneth DeGiorgio

Rather than a brusque exit, high-performer DeGiorgio eligible to catch a soft breeze off into the horizon

Apr 23, 2025
New VantageScore Credit Model Aims To Boost Predictive Performance

Also, company’s pilot program gives nonprofit lenders access to modern credit scoring while helping them maintain sound lending practices

Apr 22, 2025
Mortgage Women Leadership Council Breaks 500-Member Benchmark

Becomes nation’s largest organization for women in the industry

Apr 21, 2025
Tug-Of-War Continues Between President Trump, Fed Chair Powell Over Rate Cuts

President’s April 17 social media post expresses growing impatience with Federal Reserve Board not cutting rates

Apr 18, 2025
Mortgage Insurance Premium Tax Write-Off Back On The Table

Bipartisan bill would restore, expand expired MIP deduction, aiming to ease homeownership costs for millions

Apr 15, 2025