Major Sale: Fannie Mae to Follow in Freddie Mac's Footsteps
Fannie Mae has joined the ranks of Freddie Mac in selling delinquent loans to clean up its portfolio. The delinquent loans consist of non-performing single-family mortgages and will be sold in pools to buyers in the near future.
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Major Supreme Court Decision to Affect Mortgage Industry
In a unanimous decision on Monday, the Supreme Court held that the Department of Labor does not have to adhere to notice-and-comment procedures as outlined in the Administrative Procedures Act (APA). Perez v. Mortgage Bankers Association was the landmark case that allowed the Justices to come to this decision.
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HUD Secretary Castros Testimony before the House Financial Services Committee Ignites Opposition
Earlier this week, we blogged about the upcoming House Financial Services Committee hearing featuring U.S. Department of Housing and Urban Development (HUD) Secretary Julian Castro. The hearing, titled The Future of Housing in America: Oversight of the Federal Housing Administration, was directed towards the financial status of the Federal Housing Administration (FHA), the condition of the Mutual Mortgage Insurance Fund (MMIF), and recent initiatives to promote affordable housing.
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SBA Announces Matchmaking Events through American Supplier Initiative
The U.S. Small Business Administration (SBA) has announced matchmaking events throughout 2015 which will expand the American Supplier Initiative. Created in 2012, the American Supplier Initiative supports American manufacturing by investing in the small businesses that comprise America’s suppliers.
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Breaking News: President Obama To Announce Decrease In FHA Premiums
In an effort to make home buying more accessible for first-timers, President Barack Obama has set out to decrease the Federal Housing Administration (FHA) mortgage-insurance premiums. The annual fees the FHA charges will be dropped by o.5 percentage points, according to two people with knowledge of Obama’s plans.
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Congresswoman Waters at the Inaugural Conference
Long Beach – Earlier this week, Congresswoman Maxine Waters provided the keynote address at the NAWRB Inaugural Conference regarding Dodd-Frank Section 342 and the role of the Office of Minority and Women Inclusion (OMWI).
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National Women's Business Council Announces New Members The National Women’s Business Council (NWBC) has announced Teresa Nelson and Marsha Bailey as new additions to the Council. Both women bring a wealth of knowledge and experience to the advisory council.
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FDIC Appoints New Director for OMWI
The Federal Deposit Insurance Corporation (FDIC) appointed Segundo Pereira as the new Director and Officer of the Corporation for the Office of Minority and Women Inclusion. Pereira will replace Andrew Gray, who accepted a job at JPMorgan Chase.
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Julian Castro Gains Senate Committee Support for Housing Secretary
San Antonio Mayor Julian Castro was approved by the U.S. Senate Banking Committee today as head of the Department of Housing and Urban Development (HUD). Castro was previously nominated for the position by President Obama earlier this year.
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Maria Contreras-Sweet Highlights New SBA AgendaMaria Contreras-Sweet—SBA Administrator—spoke last week at the Center for American Progress in Washington D.C. regarding entrepreneurial equality. She highlighted the growing number of women and minority entrepreneurs in the United States while explaining new initiatives on behalf of the SBA.
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