D. Keith Johnson, formerly president and chief executive officer of Long Beach Mortgage, has been named president and chief operating officer of Clayton Holdings Inc., a Shelton, Conn.-based information and analytics company serving lenders, servicers, and the debt markets.Mr. Johnson was president and CEO of Long Beach, a subprime lending subsidiary of Washington Mutual Inc., from 2003 until March of this year, Clayton said. He was previously executive vice president and COO of WaMu's commercial group and chief financial officer of Bank United's mortgage division. Clayton CEO Frank Filipps said Mr. Johnson brings "a deep understanding of the dynamics of both origination and securitization, and the skills and track record to improve the efficiency of our clients' operations and our own." The company can be found online at http://www.clayton.com.
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Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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