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 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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