The American Securitization Forum has named two newly elected executives to head its residential mortgage-backed securities subforum.The group said Jordan Schwartz, a partner with Cadwalader, Wickersham & Taft LLP, and Bill Felts, senior vice president at CitiMortgage, will be serving as co-chairs of the RMBS subforum. The elections took place at the organization's annual meeting in New York. Among other notable mortgage executives elected to posts at the forum was David Spector, senior managing director at Countrywide Home Loans, who has been named a new member of the ASF's board.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
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In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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