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Th e M Rep o RT | 5 month in review Speaking at the National Council of State Housing Agencies Legislative Conference, Dr. Michael Stegman, the U.S. Department of Treasury counselor to the secretary for housing finance policy, said the Obama Administration is "ready, willing, and able" to talk housing finance reform. Ocwen Financial announces it signed a letter of intent to sell the mortgage servicing rights of $45 billion in agency performing loans. News circulates that Google may bring its mortgage comparison tool, Compare, to the U.S. The HomeBuying Institute releases a survey showing bad credit scores, excessive debt, and insufficient income are now the top reasons why borrowers received rejections for FHA loans. The Fed releases its most recent Beige Book, which found residential real estate conditions were mixed among the 12 districts. At an outreach event in New Jersey, FHFA Director Mel Watt announces that the FHFA will not continue renewing programs like the Home Affordable Refinance Program (HARP) indefinitely, even if the program is extended again before its December expiration date. U.S. Representative Randy Neugebauer (R-Texas) introduced a bill intended to replace the director of the CFPB with a five- member commission. In 2009, Federal Reserve Chairman Ben Bernanke told colleagues he was "uncomfortable" providing extra aid to Bank of America, according to Federal transcripts released last month. The top 31 banks in the U.S. passed the first round of the Federal Reserve's "stress test," with none of the banks falling below the Fed's capital requirements. To resolve claims they violated the False Claims Acts, MetLife Home Loans LLC has agreed to pay the U.S. $123.5 million. These claims allege MetLife issued Federal Housing Administration (FHA) loans insured by the U.S. Department of Housing and Development (HUD) that they knew did not meet application requirements. At a gathering of civic leaders at the City Club of Chicago, U.S. Secretary of Housing and Urban Development (HUD) Julián Castro says America is in the midst of an "affordable housing crisis." Since we last published, the mortgage industry has seen its fair share of headlines. From new Google tools that could change the way homebuyers shop to announcements straight from the office of the president, it's been a busy time for our sector. Catch up on the most recent happenings now. U.S. Census Bureau releases data showing that in Q4, 2014 homeownership rates were the lowest they have been in six years, with just 74 percent of homes owned by their occupants. A Breakdown of the Recent News and Announcements that Shaped the Mortgage Industry Making Headlines

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