Stan Martin, who has served as interim general auditor of Freddie Mac since Feb. 9, has been named senior vice president and general auditor of the government-sponsored enterprise.Mr. Martin, who reports directly to the Audit Committee of Freddie Mac's board of directors, will be responsible for assessing risks, providing independent advice, and heading the GSE's internal audit organization. Before joining Freddie Mac, Mr. Martin was a consultant to HSBC Bank USA on integration and divestiture. The majority of his career of over 30 years was spent with the KPMG accounting firm, where he served as the Securities and Exchange Commission reviewing partner, Freddie Mac said. Mr. Martin's role as general auditor will be crucial as the company continues to play catch-up in its financial reporting due to a $5 billion accounting scandal. Freddie Mac can be found online at http://www.freddiemac.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
3h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
7h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
10h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
11h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24