Mortgage industry veteran Ed Abufaris has been named national sales director for correspondent lending at CitiMortgage, St. Louis.CitiMortgage said Mr. Abufaris has nearly three decades of experience in the mortgage business, including 13 with CitiMortgage. He will oversee the sales organization, which has been reorganized into three geographical divisions from four, the company said. Mr. Abufaris was most recently division manager for CitiMortgage's Southeast Division. He began his career with Fidelity Federal Savings and Loan in Florida. He later managed secondary marketing for First Atlanta Mortgage, followed by 10 years as capital markets manager with MGIC.
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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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