S.A. Ibrahim, a 27-year veteran of the banking and mortgage industries, has been named chief executive officer of Radian Group Inc., a Philadelphia-based mortgage insurer and provider of credit enhancement products and services.Mr. Ibrahim, 53, succeeds Frank Filipps, who is retiring from Radian. The appointment is effective May 5. Mr. Ibrahim was most recently president and chief executive officer of GreenPoint Mortgage, and he was previously GreenPoint's chief operating officer, leading the company through the acquisition of Headlands Mortgage, Radian said. Mr. Ibrahim was also employed by American Express and by the mortgage lending unit of Chemical Banking Corp., where he was CEO and COO.
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Even with the positive news when it came to income, two of the big four underwriters had their earnings outlook slashed, while a third received an upgrade.
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AD Mortgage's news survey finds 82% expect AI to transform the industry, and relationship skills will decide who wins in 2027.
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An acquisition this year could be one in a line of other future deals, potentially involving lenders or commercial real estate firms, Ellington executives said.
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If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the U.S. with about $6.6 billion in combined revenue.
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Fannie Mae and Freddie Mac's oversight chief said that he's displeased with a report that these builders have retreated from serving first-time buyers.
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The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.
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