The Senate Banking Committee approved Julian Castro, the mayor of San Antonio, on Wednesday to head the Department of Housing and Urban Development.
The committee voted 16-6 in favor of Castro, who testified at a confirmation hearing earlier this month that he would work to help pass housing finance reform in Congress. He also said he would continue to strengthen the finances of the Federal Housing Administration to avoid another government infusion like that required last year the first in the agency’s 80-year history.
Castro’s nomination now moves to the Senate floor. If confirmed, he will succeed Shaun Donovan, who has been nominated to head the Office of Management and Budget.
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.