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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Pricey insurance, expensive maintenance, and struggles with financing are all weighing down the condo market, with Florida and Texas feeling it the most.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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The new integration supports the upcoming Uniform Appraisal Dataset 3.6, which becomes available in September, with mandatory use 14 months later.
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The prime jumbo RMBS transaction is collateralized by 402 residential mortgage loans.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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The Senate version makes permanent the mortgage interest and mortgage insurance premium reductions, removes the revenge tax but also cuts CFPB funding.
7h ago