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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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
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In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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