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Washington
Inside Washington (01/09/2008)
* WASHINGTON (1/10/08)--Daniel Mudd, Fannie Mae’s chief executive, expressed his concerns with how some might respond to the Bush administration’s loan modification plan, saying that it could “spook investors” (American Banker Jan. 9). In a speech Tuesday before the U.S. Chamber of Commerce, Mudd said that investors left with loan losses would not be able to re-enter the market easily, thus shrinking the credit pool. Legislation should not affect the credit markets by inflicting losses onto them, he said. Bank regulators could give financial institutions credit under the Community Reinvestment Act for helping borrowers facing foreclosure, Mudd suggested, while encouraging a unified industry approach ... * WASHINGTON (1/10/08)--The Office of the Comptroller of the Currency (OCC) announced Wednesday that John K. Hardage has been named director for congressional liaison. Hardage, who joined the agency in 1997, has served as deputy director. Hardage succeeds Carolyn Z. McFarlane, who retired last year ... * WASHINGTON (1/10/08)--Rep. Richard Baker (R-La.) could announce Friday whether he will become president of the Managed Funds Association (CongressDaily PM Jan. 8). Baker has been in talks with the group regarding a $1 million annual salary. Baker said he could resign within one month if he takes the position. His absence would result in a special election to fill his 6th District seat ...


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