Maria Fregosi has been promoted to the executive committee of ABN Amro Mortgage Group, Ann Arbor, Mich., where she will assume responsibility for AAMG's pricing strategies and secondary marketing activities.Ms. Fregosi will also continue to oversee AAMG's capital markets division, AMCAP. "The integration of capital markets, secondary markets, and pricing strategies enables AAMG to tightly link its front-end pricing with its investor activities," said company chairman and chief executive officer Thomas M. Goldstein. Ms. Fregosi served most recently as group senior vice president for the AMCAP division and was responsible for the development of its ABN Amro mortgage conduit program, master servicing group, and commercial mortgage securitization program, the company said.
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Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
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The addition of HELOCs at SoFi comes alongside the launch of a new advisory group, as the company heightens its focus on real estate lending.
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The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.
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Builder mortgage units saw Q1 profit slides (NVR down 17%) despite an 11% rise in new home loan applications. Overall homebuilder net income dropped, and sales incentives remain high.
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Toll Brothers' purchase of Buffington Homes of Arkansas will extend its national outreach with a strong presence in northwest Arkansas, the company said.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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