The Senate has confirmed Alphonso Jackson to be the new secretary of the Department of Housing and Urban Development.Mr. Jackson has run housing authorities in St. Louis, Washington, and Dallas. He was a Texas electric utility executive when he was tapped to become the deputy secretary at HUD in 2001. A few weeks ago, his confirmation appeared be in jeopardy until the Bush administration decided to withdraw a controversial final rule to revamp the mortgage application and settlement services process. Mr. Jackson has served as the acting HUD secretary since former Secretary Mel Martinez resigned in December to run for the Senate. Meanwhile, President Bush has nominated Romolo A. Bernardi to serve as deputy secretary under Mr. Jackson. Mr. Bernardi is currently the HUD assistant secretary for community planning and development.
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Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.
September 8 -
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Two online ads promise Fannie Mae and Freddie Mac are working to boost purchase applications but it's unclear whether they signal interest in a stock offering.
September 8 -
Weak refi demand is pushing lenders to lean on servicing income, as tighter execution spreads and higher MSR values shift the industry's sell/retain calculus
September 8 -
Chad Smith departs the lender in a transition phase, after helping Better to generate 2.5 times growth in total revenue and funded loan volume since 2024.
September 8 -
The Federal Housing Finance Agency has barred 51 people from working with Fannie Mae and Freddie Mac this year, the most suspensions in any calendar year.
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