Barbara T. Alexander, Geoffrey T. Boisi, William M. Lewis Jr., and Eugene M. McQuade have been nominated for election as directors of Freddie Mac.The four new candidates will be included on a slate of 13 directors to be elected at the corporation's annual meeting Nov. 4. Ms. Alexander, 56, is an independent consultant, and was previously a senior adviser to UBS Warburg LLC and its predecessor firms, Freddie Mac said. Mr. Boisi, 57, is a retired vice chairman and co-chief executive officer of J.P. Morgan Chase and Co., and was the founding chairman and senior partner of the Beacon Group investment and advisory firm from 1993 to 2000. Mr. Lewis, 48, is a managing director and co-chairman of investment banking at Lazard Freres & Co., and held various executive positions at Morgan Stanley over a quarter of a century, according to Freddie Mac. Mr. McQuade, 55, is president and chief operating officer of Freddie Mac, and was previously president of Bank of America Corp. and president and chief operating officer of FleetBoston Financial Corp. The membership of Freddie Mac's board totals 18, of which five are appointed by the president of the United States.
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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.
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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.
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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 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17