ECC Capital Corp., Irvine, Calif., says its executive vice president and chief operating officer Steven Szpytek has resigned to take a production job at a subsidiary.Mr. Szpytek will be based in Downers Grove, Ill., and will serve as director of production in the Midwest for Encore Credit Corp. The nonconforming wholesale lender is also losing its spokesman, Rob Asghar, who is departing to take a position at the University of Southern California. Recently, ECC/Encore, a real estate investment trust, trimmed 440 full-timers, or 27% of its work force.
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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 -
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 -
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 -
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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