Government

While the CAC will advise the Fed on a broad range of issues and offer diverse perspectives on economic circumstances of different consumers and communities, the council's particular focus will be on concerns of low- and moderate-income areas.

When asked what she was most proud of having accomplished with MHA, Lambert said, "There are so many things. If I had to pick one thing, I would say we're proud of the way we were able to put resources together to help homeowners and I’m proud I was able to participate in the direct assistance of homeowners in so many ways, including our PSA campaigns, online presence and outreach events.”

This week, First Horizon National Corp. announced that First Tennessee, the regional bank for First Horizon, reached an agreement with HUD and the U.S. Department of Justice to settle claims related the mortgage business the company sold in 2008. As part of the settlement, First Tennessee has committed to make a cash payment of $212.5 million.

Under the terms of the RMK Financial Corporation consent order, RMK must pay a civil penalty of $250,000 in addition to halting the practices the CFPB found issue with.

Officially dubbed the Common Sense Housing Investment Act, HR 1662 would convert the current Mortgage Interest Deduction into a non-refundable, 15 percent flat-rate tax credit instead. This tax credit would apply to all interest paid on mortgages up to $500,000.

Grassley wrote in his letters that it is unclear whether the President asserted executive privilege to withhold documents regarding the sweeping of GSE profits into Treasury and questions whether the Justice Department was authorized to withhold the documents.

Officials at the Federal Reserve could not agree whether to raise interest rates this year, according to the minutes of the Fed’s March meeting, released Wednesday.

The federal judge overseeing a $189 million mortgage insurance lawsuit against Wells Fargo admonished prosecutors Tuesday for dumping millions of documents on the bank so late in the process, making good on an earlier warning against using dumping tactics in the case.

According to FHLB Des Moines, the merger will lead to an institution that will serve nearly 1,500 financial institutions in 13 states and three U.S. territories, making the combined bank be the largest in the FHLB system in terms of membership and geography.

The conference, entitled The Housing Affordability Opportunity: Lowering Costs and Expanding Supply is a two part event hosted in partnership with Habitat for Humanity International and Enterprise Community Partners and will focus on the issue of expanding housing across the nation.