Bruce Legan has been named senior managing director of consulting services at Clayton Holdings, a Shelton, Conn.-based provider of information-based analytics, consulting, and outsourced services for lenders, servicers, and other financial firms.For the past four years, Mr. Legan led Ernst & Young's residential mortgage advisory practice as senior manager of its Structured Finance Advisory Services Group. Before joining E&Y, he was a managing director at MBIA Insurance Corp. and he worked for GMAC Mortgage, setting up its third-party residential mortgage special servicing division, Clayton said. Mr. Legan also worked at GMAC/Residential Funding Corp., where he managed the sales and purchases of mortgage loans in the secondary market. Clayton can be found online at http://www.clayton.com.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
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The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
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