James Furash, chief executive of a depository owned by Countrywide Financial Corp., Calabasas, Calif., has left the company, according to combined news reports.At deadline time, Countrywide spokesman Rick Simon had not returned a telephone call about the matter. Countrywide's federally insured bank had $84 billion in assets at the end of March. Countrywide is the nation's largest residential funder, according to the Quarterly Data Report. Its bank holds deposits of consumers in the form of certificates of deposit and mortgage escrow accounts. The parent company places home equity loans and ARMs on the balance sheet of the bank. Countrywide can be found online at http://www.countrywide.com.
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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.
September 25 -
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
September 25 -
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.
September 25 -
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
September 25 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
September 25 -
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
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