Online bond marketplace TradeWeb, which had offices in the World Trade Center and has been activein the mortgage-backed securities market, has confirmed that all its employees are safe and its website is up andrunning. The company has said it expects to restore trading of U.S.-based products within a few weeks and is workingwith its London office to do so. "I am relieved and grateful for the safety of all our colleagues;it is a miracle that we are all alive in the wake of Tuesday's attack," said TradeWeb president Jim Toffeysaid. "The thoughts and prayers of the TradeWeb family go out to everyone affected by this unimaginable tragedy."Vic Simone, managing director of Goldman Sachs & Co. and TradeWeb's chairman, said, on behalf of company'sboard and its dealers, "We are very relieved that all TradeWeb employees are safe and accounted for and extremelyproud of the way they conducted themselves during this crisis. We, the dealer community, are committed to providingthe necessary resources to restore TradeWeb to full operational capability as soon as possible." The company'ssoftware, databases, and office records were all stored off-site. TradeWeb's website address is http://www.tradeweb.com.
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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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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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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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