Charlotte I. Catalfo has been named president and chief operating officer of American Mortgage Network, a San Diego-based wholesale mortgage bank and a wholly owned subsidiary of Wachovia Bank NA.Ms. Catalfo has over 30 years of experience in mortgage banking production and operations, AmNet said. Before joining the company, Ms. Catalfo was senior managing director for correspondent lending at CitiMortgage Inc., and she held numerous executive positions with Principal Residential Mortgage Inc., including executive vice president of production and production administration. John M. Robbins, AmNet's chief executive officer, said Ms. Catalfo will be in charge of all major technology initiatives at the company. AmNet can be found online at http://www.amnetmortgage.com.
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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.
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Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
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Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.
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William Isaac led the Federal Deposit Insurance Corp. through the banking and thrift crises of the 1980s and was a frequent commentator on bank regulation after his time in public service.
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The longtime Federal Reserve chair served under four presidents and presided over the deregulatory and pro-market push of the 1990s and early 2000s that set the stage for the 2008 mortgage crisis.
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Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
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