Fannie, Freddie Amendment Withdrawn
Sen. Chuck Hagel (R-Neb.) withdrew an amendment that would require Fannie Mae and Freddie Mac to disclose details about their debt securities rather than subject the provision to a vote requiring the support of 60 senators. Separately, the companies' regulator said it would require such disclosures should Congress not overturn the companies' exemption to the requirement.
Also, Fannie Mae said interim chief risk officer Adolfo Marzol will be replaced by Mark Winer, vice president of portfolio strategy.
CIT Group CEO to Join Freddie Mac Board
Freddie Mac named to its board Jeffrey M. Peek, chairman and chief executive of consumer finance firm CIT Group, effective Jan. 1.
NVR to Repurchase $300 Million in Stock
Reston home builder NVR said it plans to repurchase about $300 million of its outstanding stock. Its stock has tumbled more than 25 percent from its summer high of $947 a share and has lost about 8 percent since the company said area housing orders had slowed.
Pepco Holdings of the District said its third-quarter profit rose 53 percent, to $170.1 million from $111.7 million in the comparable period a year earlier, as hot weather increased demand for power to run air conditioners. Revenue rose 22 percent, to $2.49 billion.
ManTech International, a Fairfax-based government contractor, said profit rose 50 percent, to $11.7 million (35 cents a share). Revenue increased 26.5 percent, to $262.4 million.
Compiled from staff and news service reports.