Skip to main content

Tax Bill Clears Congress, Awaits President’s Signature

Phil Hall
Dec 20, 2017
The Tax Cuts and Jobs Act has left Capitol Hill and is awaiting President Trump’s signature to become law

The Tax Cuts and Jobs Act has left Capitol Hill and is awaiting President Trump’s signature to become law.
The U.S. Senate voted in the early hours of the morning to pass the Tax Cuts and Jobs Act by a 51-48 margin. The vote was strictly along party lines, with Arizona Republican John McCain absent from the vote. The legislation passed in the House of Representatives yesterday on a 227-203 vote, with 12 Republicans voting against it and no Democrats supporting it.
Due to a procedural glitch in the reconciliation process between the two congressional chambers, the House need to vote on the bill again this morning. On the second vote, the House passed the bill by 224-201 margin.
“The new tax regime will fundamentally alter the benefits of homeownership by nullifying incentives for individuals and families while keeping those incentives in place for large institutional investors," said Elizabeth Mendenhall, President of the National Association of Realtors (NAR). "That should concern any middle-class family looking to claim their piece of the American Dream."
The President hosted GOP leadership at the White House to highlight the bill’s passage, but has yet to sign the bill. White House legislative director Marc Short said that President Trump could possibly sign the bill while he's vacationing at his Mar-a-Lago estate in Florida for the holidays.
Dec 20, 2017
Mortgage Forbearance Changes Create Challenges for Servicers

65% Of All Plans Would Expire By The End of 2021

Regulation and Compliance
Aug 02, 2021
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