Washington state regulator Chuck Cross, who exposed Household International's abusive lending practices several years ago, has joined the Conference of State Bank Supervisors to be in charge of special projects.As chief of enforcement at the Washington Department of Financial Institutions, Mr. Cross conducted an investigation of Household's mortgage lending practices that led to a $484 million multistate settlement with the company in 2002. He was also a key negotiator in the settlement talks. HSBC North American Holdings later acquired Household. As director of special projects, Mr. Cross will support the conference's mortgage and nondepository regulatory initiatives, according to CSBS president and chief executive Neil Milner. "Chuck's extensive experience in regulating nondepository institutions as well as his background in training examiners and law enforcement bring a new dimension to the CSBS team," Mr. Milner said.
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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.
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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.
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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.
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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.
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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.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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