Jennifer S. Creech has been named chief production officer of DeepGreen Financial, a Cleveland-based home equity lender.Ms. Creech was most recently manager of the Northeast region at RBC Mortgage, a subsidiary of Royal Bank of Canada. She was previously regional sales manager for both Washington Mutual and PNC Mortgage, DeepGreen said. Touting the prospects of her new employer, Ms. Creech said DeepGreen "got a jump start on home equity" while other financial services companies were focused on the refinance market. DeepGreen is owned by Lightyear Capital, a New York City-based private equity investment firm. The companies can be found on the Web at http://www.deepgreenfinancial.com and http://www.lycap.com.
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Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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