The Treasury Department is about to swear in Robert K. Steel as the new under secretary responsible for policies and legislation involving Fannie Mae and Freddie Mac.The Senate confirmed the former Goldman Sachs vice chairman Sept. 29 just before Congress left Washington for the Nov. 7 elections. Treasury Secretary Henry Paulson handpicked his former colleague at Goldman Sachs to replace Under Secretary Randal Quarles, who announced this summer that he wanted to return to the private sector. The swearing-in ceremony comes at a time when Secretary Paulson wants to break a legislative stalemate over government-sponsored enterprise regulatory reform and pass a bill when Congress returns Nov. 9 for a lame-duck session. But the odds of that happening are slim. Mr. Paulson was the chairman and chief executive of Goldman Sachs.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
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Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
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The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
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Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
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The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
11h ago