Julian Castro, mayor of San Antonio, speaks during an interview inside the Bloomberg Link during day three of the Democratic National Convention (DNC) in Charlotte, North Carolina, U.S., on Thursday, Sept. 6, 2012. Four years after the nation made history by electing him the first African-American president, Barack Obama asked for a second term with a pledge to keep rebuilding a battered economy in a way that may be harder but it leads to a better place. Photographer: David Paul Morris/Bloomberg *** Local Caption *** Julian Castro
David Paul Morris/Bloomberg
The Senate Banking Committee approved Julian Castro, the mayor of San Antonio, on Wednesday to head the Department of Housing and Urban Development.
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The committee voted 16-6 in favor of Castro, who testified at a confirmation hearing earlier this month that he would work to help pass housing finance reform in Congress. He also said he would continue to strengthen the finances of the Federal Housing Administration to avoid another government infusion like that required last year the first in the agency’s 80-year history.
Castro’s nomination now moves to the Senate floor. If confirmed, he will succeed Shaun Donovan, who has been nominated to head the Office of Management and Budget.
The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties.
