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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The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.
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Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
May 6 -
The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
May 6 -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
May 6