Citigroup on Tuesday named Sanjiv Das CEO of its residential lending division, CitiMortgage of O'Fallon, Mo., the nation's fourth largest originator. He replaces Bill Beckmann who stepped down in June to spend more time with his family. Mr. Das returns to Citigroup after holding executive positions at Morgan Stanley and Bank One. In the 1990s, he worked for Citigroup in a number of positions, including chief of its global mortgage products group.
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.
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
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.
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
