Stephen Blumenthal, who ran the special examinations of Fannie Mae and Freddie Mac for the Office of Federal Housing Enterprise Oversight, says he intends to resign and return to the private sector this fall."The confirmation of Jim Lockhart as OFHEO's director makes it possible for me to leave knowing that the agency is well led and will continue to accomplish its important mission," said Mr. Blumenthal, OFHEO's deputy director. As deputy director and acting director, he headed the special examination of Fannie that discovered fraudulent accounting, earnings manipulation, and corruption at the government-sponsored enterprise. He also conducted a special examination of Freddie Mac after an internal investigation by the GSE's board of directors uncovered an accounting scandal. Former OFHEO Director Armando Falcon hired Mr. Blumenthal from Schwab Capital Markets in 2002 to be his counsel. After Mr. Falcon stepped down in May 2005, he served as acting director until Mr. Lockhart was appointed in April.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3