Aug 15 The U.S. Consumer Financial Protection
Bureau (CFPB) has hired Patricia McClung as assistant director
of mortgage markets, the Wall Street Journal reported, citing an
official with knowledge of the matter.
McClung, who spent 23 years at mortgage finance firm Freddie
Mac, joins CFPB from the Federal Housing Administration, where
she was a senior adviser for the past year.
In her new role, McClung will assess the impact of the
agency's new mortgage lending rules, the Journal said. (on.wsj.com/1mRbm27)
McClung assumes office next month, succeeding Peter Carroll,
who resigned earlier this year to join Wells Fargo & Co.
CFPB has been facing pressure from the mortgage industry to
relax its rules, which were put in place to prevent the sloppy
practices that aggravated the U.S. foreclosure crisis.