Skip to main content

NAMB Legislative Alert: First-time homebuyer tax credit on the verge of extension
Oct 30, 2009

The $8,000 first-time homebuyer tax credit is set to be extended until April 30, 2010. The Obama Administration has urged Congress to pass legislation to extend the program from its original Dec. 1, 2009 deadline. In addition, legislation may provide a tax credit for some current homeowners. The National Association of Mortgage Brokers (NAMB) will continue to monitor the legislation. "We welcome efforts taken by Congress to extend the first-time homebuyers tax credit for a limited period," said Treasury Secretary Tim Geithner and U.S. Department of Housing & Urban Development (HUD) Secretary Shaun Donovan in a joint statement. "This credit has brought new families into the housing market and contributed to three consecutive months of rising home prices nationwide." A number of proposals to extend and expand the credit have circulated in Congress of late; however, Senate lawmakers have come to a better focused plan in recent days. Under the terms of the agreement, the deadline for first-time homebuyers to claim the $8,000 credit would be pushed back to April 30, 2010. But the term "deadline" doesn't mean the same thing as it does in the current credit. The Senate agreement stipulates that buyers must have a sales contract on a house by April 30 to be eligible, but it gives them an additional 60 days to close the purchase. That's much different from the current credit, in which transactions must be closed by Nov. 30.
Oct 30, 2009
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020

Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020

Regulation and Compliance
Jun 29, 2021