Citigroup president and chief operating officer Robert Willumstad, an 18-year veteran of the company -- and a one-time candidate for the top job at Fannie Mae -- is leaving the company.Mr. Willumstad, 59, is also leaving the Citigroup board, and he announced that he will "pursue opportunities" to lead a public company. From 2000 to 2003 he headed Citigroup's global consumer operations, which include consumer finance. Once considered a candidate to head Citigroup, Mr. Willumstad was passed over for the top job in 2003 by Sandy Weill, who chose Charles Prince to be chief executive officer. Mr. Willumstad was believed to be a finalist for the Fannie Mae CEO position, which went to interim CEO Daniel Mudd this spring.
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GSE loans between 30 and 59 days late on their payments saw a 13 basis point rise in delinquency rates, while most non-agency MBS types saw annual increases.
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New American Funding also promoted Stacy Chevalier Northwest regional vice president, and MISMO added three members to its board of directors.
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A lawsuit claims the bureau regularly assigns higher-responsibility examination work to Black workers without corresponding pay bumps or promotions.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
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As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
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A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
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