Rep. Richard Baker, R-La., is seeking Bush administration support for his Louisiana Recovery Corp. bill, and he wants to come to terms with the White House by Jan. 31 so that Congress can pass the bill in early February."Given the critical and timely nature of the problems facing Louisiana citizens, it is my hope to reach an agreement with the Administration by this date," Rep. Baker says in a letter to the president's Katrina coordinator, Donald Powell. The Baker bill (H.R. 4100), approved by the House Financial Services Committee on Dec. 15, would create a new federal agency to finance and oversee the rebuilding of New Orleans and other areas of Louisiana devastated by hurricanes. The LRC could purchase residential and commercial properties and assume mortgages on those properties of up to $500,000. Separately, White House Chief of Staff Andrew Card said the president is not going to forget the people in Mississippi and Louisiana as he finalizes his agenda for this year, even though the administration wants to stop the growth of government nonsecurity spending. In a speech to the Chamber of Commerce, Mr. Card said only half of the 90 million tons of debris created by Hurricane Katrina has been removed, and he indicated that the federal government will continue to assist in the cleanup.
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Artificial intelligence is fueling litigation risks, from consumer lawsuits against servicers, to more repurchase requests, and vulnerabilities through vendors.
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A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
July 3 -
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
July 2 -
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
July 2 -
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
July 2 -
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
July 2









