Ditech.com chief Michael McCarthy has stepped down from his post at the company, MortgageWire has learned.A spokeswoman for Residential Capital Corp., the parent of ditech.com, confirmed his departure as senior vice president and general manager, but noted that Mr. McCarthy "is exploring other opportunities" within the ResCap/GMAC family of companies. Mr. McCarthy will be replaced by Richard D. Powers, who will start as senior vice president and general manager in August. Ditech.com is an online retail lender that specializes in refinancings and home equity loans. An affiliate of GMAC Mortgage of Horsham, Pa., the Costa Mesa, Calif.-based ditech.com advertises heavily on cable television.
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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 -
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 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
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 -
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 -
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
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