Neil Levin, former chairman of the Federal Home Loan Bank of New York, is missing and presumed deadin the wake of last week's terrorist attacks on the twin towers of the World Trade Center. Mr. Levin,who chaired the New York bank from 1988 to 1994, was executive director of the Port Authority of New York and NewJersey. The authority, which managed the complex, had offices in the towers. Mr. Levin, 46, had a long career infinancial services, including stints on Wall Street and Capitol Hill, where he served as legislative counsel toformer New York Sen. Alfonse D'Amato, who chaired the Senate Banking Committee. Mr. Levin also served as New Yorkbanking commissioner. The FHLB-NY, which was housed at 7 World Trade Center, lost its headquarters in the attacks,but as previously reported, all 120 of its employees were safely evacuated.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
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The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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