Robert Van Order, Freddie Mac's chief economist since 1987, has been named to the newly created position of chief international economist. Frank Nothaft, Freddie Mac's deputy chief economist, will take over as chief economist. In the new post, Dr. Van Order will focus on international financial issues affecting the government-sponsored enterprise and advise foreign organizations on "the benefits of a secondary mortgage market," Freddie Mac said. Before joining the GSE, Dr. Van Order served as director of the Housing Finance Analysis Division at the Department of Housing and Urban Development from 1982 to 1985, as a HUD economist from 1976 to 1982, and as visiting professor of real estate at the Graduate School of Management at the University of California, Los Angeles. Dr. Nothaft previously served as an economist with the Federal Reserve Board. Freddie Mac's website address is http://www.freddiemac.com.
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The 30-year fixed rate mortgage average resumed its climb that started in September, as the benchmark 10-year Treasury price still reflects views on inflation.
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Fannie Mae's latest economic forecast no longer expects mortgage rates to go below 6% next year, and that is affecting its views on loan origination volume.
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Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
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The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.
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Critical defects increased for the second consecutive three-month period, with appraisal-related errors nearly doubling, Aces Quality Management said.
November 20 -
The Federal Reserve governor said the Supreme Court ruling could bring needed transparency and efficiency to regulatory policymaking.
November 20