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Tag Archives: Government

Stevens Tapped to Lead FHA

David H. Stevens has been nominated by President Barack Obama for the position of assistant secretary for housing and Federal Housing Administration (FHA) commissioner, where he will be responsible for overseeing the government-led mortgage insurance agency.

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Fannie Needs $16 Billion From Treasury

Fannie Mae will need as much as $16 billion from the Treasury Department to avoid posting a loss in the fourth quarter of 2008, according to an Securities and Exchange Commission filing. The announcement comes just days after Freddie Mac filed a similar report indicating it would as for as much as $35 billion to keep it solvent.

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Fannie Mae Lays Off Hundreds In D.C.

Fannie Mae has begun laying off hundreds of employees at its Washington, D.C. office to make room for more employees at its Dallas, Texas anti-foreclosure office, according to multiple media reports. Affected employees include those that worked in technology, administration, communications, and the company’s single-family unit, which buys and bundles mortgages for securities.

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Criticism of Appraiser Code Mounts

The Federal Housing Finance Agency’s (FHFA) new home valuation code of conduct was created to promote transparency and put distance between lenders and appraisers to encourage more accurate property appraisals, but some question whether it will be effective.

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CRL and MBA Disagree Over Subprime Research

The Center for Responsible Lending (CRL) has issued a report defending the organization’s latest research on the subject of predatory lending and foreclosures in the subprime market. The CRL report was designed specifically to address questions raised by the Mortgage Bankers Association (MBA).

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