Magazine article American Banker

Washington People

Magazine article American Banker

Washington People

Article excerpt

All My Lenders

Love, betrayal, beautiful people, and Freddie Mac. A soap opera debuting in a half-dozen television markets this week has it all.

In a press release issued last week, Freddie provided details on "Nuestro Barrio," a Spanish-language soap with enough dramatic elements to make Susan Lucci proud -- with the added twist of financial education.

Freddie said it helped fund the show's production, and that other financial companies, including Bank of America Corp. and BOK Financial Corp.'s Bank of Texas Mortgage Group, will commit advertising dollars.

The goal is to reach out to a growing Hispanic population with an entertaining program that also includes tips on how to buy a home and warnings about predatory lending, the government-sponsored enterprise said.

"The U.S. housing market is changing, challenging the mortgage industry to develop new and creative ways to reach potential homebuyers," said Freddie senior vice president Paul Mullings.

Filmed in Durham, N.C., the program centers on a restaurant owned by members of a Latino family, who provide guidance on how to adjust to American life, Freddie said.

Despite some of the racier themes, including the mandatory love triangle and adultery, the show has won praise from lawmakers.

"It is an innovative program that combines education and entertainment to spread financial literacy, and I look forward to watching it," said Rep. Joe Baca, D-Calif.

The show is scheduled to air in Dallas, Houston, San Antonio, Austin, Phoenix, and Miami.

Art Show

House Financial Services Committee Chairman Michael Oxley may be leaving Congress at the end of the year, but he always will be looking over the committee's shoulder.

The Ohio Republican's official portrait was unveiled last week at a going-away party at the Willard Intercontinental Hotel. …

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