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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While the company made headway in reducing operational costs, it incurred several million dollars worth of expenses as it dealt with the January incident.
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The rightsizing measures impacted workers in Colorado and Florida who worked at acquired Computershare Mortgage Services and its affiliate Specialized Loan Servicing.
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Former Angel Oak Lending Chief Marketing Officer Steven Winokur has come back into the non-qualified mortgage business by taking a marketing role at Carrington Mortgage Services.
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The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.
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Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
May 6