Federal Housing Administration deputy commissioner Sean Cassidy is leaving the agency after four years on the job.The Department of Housing and Urban Development has named Frank L. Davis, a 37-year veteran of HUD, to replace him. Mr. Davis' official title will be general deputy assistant secretary for housing. Mr. Cassidy is currently serving as a senior advisor to HUD deputy secretary Roy Bernardi while pursuing other opportunities in the Bush administration. He previously worked on the staff of the House Financial Services subcommittee on housing.
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Retail sales fell 0.6% in July despite a World Cup bump and the University of Michigan's consumer sentiment index declined to cap off a pivotal week of economic indicators.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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