Standard & Poor's Ratings Services has withdrawn its Strong residential servicer ranking on First Nationwide Mortgage Corp., Frederick, Md., as a result of First Nationwide's recent name change to CitiMortgage Inc.S&P said First Nationwide has also been removed from its Select Servicer List. The name change followed the acquisition of First Nationwide's parent, Golden State Bancorp Inc., by Citigroup Inc., which operates its prime servicing platform under the CitiMortgage banner. CitiMortgage has indicated that it is not planning to close the Frederick servicing platform, S&P said. The rating agency can be found online at http://www.standardandpoors.com.
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Fannie Mae and Freddie Mac are under directives to make mortgage-backed securities purchases that can exert downward pressure on rates or limit increases.
2h ago -
The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking for the Community Reinvestment Act that would tailor requirements for smaller institutions and monitor which groups receive community development grants.
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Christopher J. Gallo, formerly of NJ Lenders Corp., generated billions of dollars in loan volume over a five-year stretch that prosecutors scrutinized.
July 30 -
The Wall Street Journal reported federal whistleblower allegations exist, citing unnamed sources and viewed documents, but the firm said it has seen no proof.
July 30 -
The homebuilder's net income for the second quarter was half of what it was a year ago but a seasonal lift improved results relative to the first quarter.
July 30 -
Fintech GoodLeap is buying homeowner relationships for renovation loans with rewards and originators competing on rate alone may be behind.
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