One of Fannie Mae's top lobbyists, Arne L. Christenson, is leaving the giant mortgage company in February to head the Washington office of American Express.Mr. Christenson joined Fannie Mae five years ago after working for former Speaker of the House Newt Gingrich, R-Ga. He previously served as a legislative assistant to a Republican congressman and a Republican senator, both from Minnesota. Michele Davis, a former Treasury Department communications director, will assume Mr. Christenson's duties as director of regulatory policy. She also has Capitol Hill experience. The announcement of Mr. Christenson's departure comes on the eve of a major policy speech by Fannie Mae chairman and chief executive Franklin Raines. The Dec. 17 speech is expected to focus on legislative efforts to strengthen the regulation of Fannie Mae and other government-sponsored enterprises. Observers are wondering whether Mr. Raines is going to continue or soften Fannie's resistance to the major parts of the Bush administration's GSE reform proposals. The speech is supposed to remind people of the important role the GSEs play in the U.S. housing finance system, and what is at stake as Congress considers GSE reforms, a Fannie spokeswoman said. Fannie Mae can be found online at http://www.fanniemae.com.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18