The White House has withdrawn the nomination of investment banker and lobbyist Mark Brickell to be the chief regulator of Fannie Mae and Freddie Mac.At his confirmation hearing this past summer, Mr. Brickell, chief executive of New York-based Blackbird Holdings, received rough treatment from Democrats on the Senate Banking Committee, including Sen. Paul Sarbanes, the ranking minority member. The Maryland Democrat voiced concern about Mr. Brickell's lobbying against tighter regulation of derivatives. Sen. Sarbanes also was not pleased that Mr. Brickell backed the notion of allowing Fannie and Freddie to create their own risk-based capital tests. In a brief conversation with MortgageWire, Mr. Brickell declined to comment. Meanwhile, Sen. Richard Shelby, R-Ala., chairman of the banking committee, said the panel in March will begin marking up legislation to strengthen regulation of the GSEs.
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The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
October 10 -
The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
October 10 -
While technology has become an important channel for information among homebuyers, many still see real estate agents as smarter than any other resource.
October 10 -
Onity adds former Meta exec as director, Click n' Close taps industry veteran as president while banks and credit unions boost their mortgage teams.
October 10 -
The regulator recently nixed Obama and Biden-era guidance for the Office of Fair Housing and Equal Opportunity and apparently reduced staff.
October 9 -
Total mortgage origination volume is forecasted to barely eclipse $2 trillion by the end of the year for the first time since 2022, iEmergent said.
October 9