The White House is considering former investment banker James B. Lockhart III, deputy commissioner of the Social Security Administration, to head the Office of Federal Housing Enterprise Oversight, MortgageWire has learned.Mr. Lockhart has served as deputy commissioner of Social Security since January 2002. Washington sources said that former Treasury Department official Edward DeMarco, a one-time candidate for the OFHEO job, is no longer believed to in the running. "DeMarco still might play some role in regard to OFHEO," said one observer. Mr. Lockhart was co-founder and managing director of NetRisk, a risk management software firm, before joining SSA. During his career he was a senior vice president at National Re (1993-95) and a managing director at Smith Barney (1993-95).
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
April 23