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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While rising national home values leave close to half of owners on solid financial footing, growth in seriously underwater loans points to pockets of stress.
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The regulator renewed his fight with the policymaker after the latter left the rates he oversees unchanged and distinguished them from those for mortgages.
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One mortgage firm is out of business months after a cybersecurity incident, which compromised the personal information of over 30,000 of its former clients.
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Fears of identity theft are top of mind for many Americans, even as many admit they're open to lying themselves in order to get mortgage credit.
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Federal Reserve Chair Jerome Powell said during his regular press conference Wednesday that the process of determining tariff-related price increases was always going to be slow, but it has taken longer than he expected.
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Still, Redwood Trust lost $100 million on a GAAP basis for the period, a result of its previous decision to pivot to a scalable operating model in mortgages.
July 30