Bank of America late Monday fired Drew Gissinger, a top production executive at Countrywide Home Loans who was in charge of retail, wholesale, and correspondent lending, according to company officials. Also let go were: Brian Hale, president of retail; Charlie Rogers, managing director of Countrywide's nationwide retail network; and Tom Hunt, managing director of the western U.S. retail branch network. Mr. Gissinger once carried the title of president and chief operating officer of Countrywide Home Loans. Meanwhile, BoA named Craig Buffie the top executive in charge of sales and fulfillment, overseeing 14,000 employees in the mortgage group. BoA bought Countrywide on July 1.
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Michael Strauss faces massive Sprout liabilities as his wife and a former associate launch a new mortgage firm, raising questions about ties to the fallen lender.
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Preemption would hurt affordability for many, the Conference of State Banking Supervisors and the American Association of Residential Mortgage Regulators said.
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Primelending produced a pretax loss of $5.2 million in the fourth quarter, significantly lower than the loss of $15.9 million in the same period a year earlier.
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The high court, without comment, refused Emigrant Mortgage's appeal of a verdict holding it liable for no income, no asset verification loans to minorities.
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Fourth quarter pretax income of $900,000 and net income of $656,000 for the segment compared with year ago losses of $625,000 and $197,000 respectively.
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Former Fed Gov. Kevin Warsh is a relatively known quantity to financial markets, but his embrace of President Trump's agenda and the White House's own contentious relationship with the central bank make it hard to know with certainty where — or even whether — he will lead the Fed.
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