Citigroup, New York, has given responsibility for risk oversight of its real estate and mortgage exposure to Greg Hawkins, a pioneer in the development of fixed-income valuation models. Notable aspects of his career include his start in 1985 on Wall Street as a mortgage researcher at Salomon Brothers, a firm later acquired by Citi, and his later involvement with the Long-Term Capital Management hedge fund as a founding partner in 1993. He is one of four new senior risk managers who will report to Brian Leach, the new chief risk officer. Mr. Leach, the successor to retiring Citi CRO Jorge Bermudez, is the CRO and co-chief operating officer of Citi's Old Lane hedge fund and was one of the six managers involved in the liquidation of LTCM.
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The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.
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Regulators are nearing a key step in overhauling credit scoring as the MBA touts its influence on GSE policy and close alignment with Washington leaders.
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The state court seemed open to a narrower view of the legal applicability to loans predating the statute than of broad constitutional challenges to it.
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In dollar terms, the amounts consumers had to come up with increased by $500 on a consecutive quarter basis, in contrast to a $100 drop the year before.
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The rollout comes as the company looks to build out offerings for originators, launching after PHH returned to the proprietary reverse-mortgage arena this year.
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Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.
October 20