Housing Secretary Mel Martinez is leaving his cabinet post Friday as he prepares to run for a U.S. Senate seat in his home state of Florida.The secretary announced that his resignation will be effective at noon on Friday. But he did not make any reference to his run for the Senate. It is unclear when he will announce his candidacy. However, White House political officials have been urging the Cuban-born attorney and former Florida county executive to run for the Senate because they believe he would help President Bush win the state in his 2004 re-election campaign. Deputy Secretary Alfonso Jackson will take over as acting secretary of the Department of Housing and Urban Development. "It has been a great privilege to serve in the president's cabinet and lead the 9,300 hard-working employees of HUD," Secretary Martinez said. "Together we have expanded homeownership opportunities for more Americans and helped countless others find affordable housing in the communities of their choice."
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25