Countrywide Financial Corp., Calabasas, Calif., has announced the promotions of seven executives.David Sambol, a senior managing director and chief of production, was promoted to executive managing director for loan originations and capital markets. Ann McCallion, chief administrative officer, was promoted to senior managing director of operations. Tom Boone, a senior managing director and chief of global processing, was promoted to senior managing director and chief administrative officer. Richard DeLeo, a managing director of loan administration, was promoted to senior managing director of loan administration. Susan Bow, executive vice president and senior deputy general counsel, was promoted to managing director, general counsel of corporate and securities, and corporate secretary. John Ardy, executive vice president for performance management, was promoted to managing director for corporate operations management. And Mark Elbaum, an executive vice president, was promoted to managing director and chief financial officer for the mortgage production segment.
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Instances of miscommunication between servicers and borrowers have declined, but some warn that CFPB stepping back from enforcement could create oversight gaps.
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Until August, Bell was the executive director for loan guaranty service at the Department of Veterans Affairs, where he was credited with growing the program.
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Company officials credited recent mortgage rate pullbacks, a nonagency servicing partnership and Improvements in technology behind recent momentum.
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The 30-year rate dropped just 0.2 percentage points, as Federal Reserve Chair Jerome Powell's recent comments caused Treasury yields to rise.
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More than two-thirds of Americans believe homeownership is riskier now than 10 years ago due to climate change, a Clever Offers survey showed.
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The government-sponsored enterprise's bottom line results, like Fannie Mae's, came in above the previous quarter's but below year-ago numbers.
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