The new Federal Housing Administration director for multifamily housing, Charles H. Williams, is heading to Baton Rouge, La., along with 50 Department of Housing and Urban Development employees to help victims of Hurricane Katrina find temporary housing.The HUD contingent led by Mr. Williams will be assisting the Federal Emergency Management Agency in the relief effort. Mr. Williams, a HUD deputy assistant secretary, was previously in charge of HUD's Office of Affordable Housing Preservation, which is responsible for restructuring expiring federal rent subsidy contracts on privately owned multifamily properties. Meanwhile, the FHA has identified 3,410 foreclosed single-family houses in five Gulf Coast states that might provide shelter for families displaced by the hurricane and flooding. "We are currently inspecting our properties" to determine their condition, a HUD spokesman said.
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Government officials confirmed the California Democrat is under scrutiny over a long-held Maryland property he designated as a second home in 2020.
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Credit availability declined in June as the job market and rising delinquency figures have some lenders concerned, the leading mortgage trade group said.
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The Ocean State is the latest to enact rules prohibiting the agreements that end up tying older homeowners to long-term contracts with real estate brokers.
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CEO Robin Vince refused to comment on "rumors or speculation" about a potential merger between the custody banking giant and its smaller rival, Northern Trust. He also said that the bar for BNY to engage in M&A is "very high."
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House Financial Services Committee Chairman French Hill promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau.
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Gain on sale at JPMorgan Chase fell by 5 basis points in the second quarter, which could be a slightly adverse sign for mortgage banker results, KBW said.
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