James P. Witkins has been named senior vice president for technology and chief information officer at Freddie Mac, replacing William I. Ledman, who is retiring on April 1.Mr. Witkins was most recently managing director for technology and operations at Fleet Boston Financial. He previously held positions with Barclays Bank PLC, Manufacturers Hanover Trust, and Chemical Bank. Mr. Ledman has been senior vice president of information and systems and services at Freddie Mac since January 1995. "Bill expressed an interest in retiring two years ago, but agreed to stay on to help the company meet the challenges it was facing," said Eugene M. McQuade, Freddie Mac's president and chief operating officer.
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The company will now consider loans up to $819,000 as government-sponsored enterprise-eligible, even though it cannot sell them to the agencies until Jan. 1.
45m ago -
Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
September 17 -
The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17