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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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.
58m ago -
An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts.
58m ago -
The new law adds rules, including counseling requirements, which would put severe constraints on originations of HEIs, an industry representative said.
April 21 -
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.
April 21 -
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.
April 21 -
Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, denied that he would act as Trump's "sock puppet" if he's confirmed and said the president has directed him to lower interest rates.
April 21








