Stephen J. Benedetti has been named executive vice president and chief operating officer of Dynex Capital Inc., a real estate investment trust based in Glen Allen, Va.Mr. Benedetti was formerly the REIT's EVP/chief financial officer. Dynex said Jeffrey L. Childress, the controller, will assume the role of principal accounting officer. The REIT can be found on the Web at http://www.dynexcapital.com.
The company will be using a simplified name and a new logo it says shows its unified business model, but its longstanding tagline will stay in place.
An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts.
The investment property owner says she was stonewalled and humiliated by BofA's loan officers, and that an error-riddled appraisal was short by over $70,000.
The new law adds rules, including counseling requirements, which would put severe constraints on originations of HEIs, an industry representative said.
Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs.
More than 21% of reverse mortgage clients entered counseling with a deficit in their monthly budget last year, almost double the 12.2% of clients in 2024.
