The Bond Market Association has chosen Randolph Snook, a long-time fixed-income market participant, to be executive vice president and head of its New York office.Mr. Snook was a partner at member firm Goldman, Sachs & Co. and has worked for many years in the corporate credit markets at Goldman and, before that, Drexel Burnham Lambert. As EVP, Mr. Snook will be responsible for overseeing day-to-day operations in the association's New York office, including the various U.S.-based asset class divisions (mortgage-backed securities, municipals, securitized products, governments, and funding) as well as technology and operations.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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