James D. Hughes has been named senior vice president and chief information officer of Freddie Mac, effective Sept. 25.Mr. Hughes, 48, will be responsible for managing one of Freddie Mac's largest organizations, with information systems planning and development responsibilities that support the company's finance, investment, sourcing, servicing divisions, and corporate functions, the government-sponsored enterprise said. He comes to the GSE from Cleveland-based National City Corp., where he held positions as CIO and executive vice president and branch banking division head. Before joining National City in 1997, Mr. Hughes served in management roles at Andersen Consulting, USF&G, Seer Technologies, and Credit Suisse First Boston.
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The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
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Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
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Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.
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William Isaac led the Federal Deposit Insurance Corp. through the banking and thrift crises of the 1980s and was a frequent commentator on bank regulation after his time in public service.
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The longtime Federal Reserve chair served under four presidents and presided over the deregulatory and pro-market push of the 1990s and early 2000s that set the stage for the 2008 mortgage crisis.
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Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
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