AMCO, a Cleveland-based valuation management company, has announced the addition of Frank J. Fahrenkopf Jr., former chairman of the Republican Party, to its advisory board.Mr. Fahrenkopf said he believes in "market-driven solutions" to problems related to noncompliant and inaccurate valuations in the mortgage industry. "AMCO's total independence, single-focused approach to the valuation industry, and unique proprietary solutions are exactly what the mortgage lending industry needs, before government is forced to enact more onerous regulation," he said. Mr. Fahrenkopf joins a board already consisting of two former secretaries of the Department of Housing and Urban Development, Andrew M. Cuomo and Jack F. Kemp, and William C. Apgar, a former commissioner of the Federal Housing Administration who is now senior scholar at Harvard University's Joint Center for Housing Studies.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
July 11 -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
July 11 -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11