John A. Vella has been named president and chief operating officer of Aames Investment Corp., a Los Angeles-based mortgage real estate investment trust.Mr. Vella was most recently chief sales officer for Option One Mortgage, a national subprime lender, and he previously served as Option One's chief administrative officer. Aames can be found on the Web at http://www.aames.com.
The change aims to address hurdles in the onboarding process, which many have cited as a point of friction in mortgage servicing.
The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.
Freedom alleged the executive, who was at the company for nine months, used proprietary data to build his own product he expected to net more than $1 million.
Despite high rates and the "locked-in" effect, many Gen Z and millennial homeowners want to bring down their monthly mortgage payments
The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
