Brian E. Cote has been named executive vice president and chief financial officer of Downey Financial Corp. and its subsidiary, Downey Savings and Loan Association, Newport Beach, Calif.Effective March 13, Mr. Cote will be assuming the CFO responsibilities from Thomas E. Prince, who will continue as Downey's chief operating officer. Mr. Cote was previously CFO of Chinatrust Bank (USA), Kinecta Federal Credit Union, DiTech Funding Corp., and WesCorp, the company said. Downey can be found on the Web at http://www.downeysavings.com.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
5h ago -
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
6h ago -
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
6h ago -
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
7h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
9h ago -
Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
May 10