The Senate Banking Committee has postponed a confirmation hearing for Brian D. Montgomery to be the new Federal Housing Administration commissioner due to a Senate dispute over the filibuster of the president's appellate court nominees.Mr. Montgomery's confirmation was on a fast track when Senate Democrats used a procedural tactic that prevents committees from holding hearings for more than two hours after the Senate is in session. This effectively killed the confirmation hearing for Mr. Montgomery, which was scheduled for Thursday afternoon. A banking committee spokesman said the confirmation hearing will be rescheduled soon. Mr. Montgomery currently works in the White House as a deputy assistant to the president. He was the chief advance man for the Bush-Cheney presidential campaign in 2000.
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Fathom Holdings acquired START Real Estate to expand its first-time homebuyer program, the company announced Thursday.
October 16 -
Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.
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Observers believe the government shutdown and lack of data is keeping mortgage rates in the same narrow range, as investors have issues reading the tea leaves.
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The Detroit-based mortgage bank's announcement trailed competitors' by over two weeks, but is taking a more aggressive risk-reward stance on the limit.
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Despite the decrease, average profit margins approached 50%, as the lock-in effect continues to stymie inventory growth and keep home values elevated.
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The head of the government-sponsored enterprises' oversight agency also asked existing investors to review risk factors as officials eye a new public offering.
October 15