WASHINGTON - (09/20/05) -- Fannie Mae invited credit unions andbanks in need of liquidity after Hurricane Katrina to bring theirmortgage portfolios to the secondary mortgage market giant forreview for possible purchase. Daniel Mudd, president of Fannie Mae,told an executive of Dow Louisiana FCU during NAFCU's CongressionalCaucus Monday the secondary market giant will review for possiblepurchase millions of dollars in mortgages held by thestorm-stricken credit union. He invited other lenders to offer upany conforming mortgage held in portfolio for review. "We canhelp," Mudd said. The Fannie Mae Chief said his company hasundertaken numerous initiatives aimed at helping victims of themassive storm. That includes making 1,500 foreclosed homes held inportfolio available rent free for people whose homes weredestroyed; authorizing lenders to suspend collections orforeclosures in the affected areas; and an increase in funding forthe area.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3