Former Mortgage Bankers Association staffer Timothy Doyle has moved to the Conference of State Bank Supervision to work on a new registry and licensing system for mortgage companies, loan officers, and mortgage brokers."Tim's experience with the mortgage industry and his background in government will yield great benefits as CSBS develops its national licensing system for mortgage lenders and regulated financial services professionals," said Neil Milner, president and chief executive officer of the CSBS. Before joining the MBA as a senior director in 2002, Mr. Doyle worked at the Agriculture Department's rural development program and the Federal Housing Administration. The CSBS wants the new licensing database to be up and running in early 2008.
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The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
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Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
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Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.
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William Isaac led the Federal Deposit Insurance Corp. through the banking and thrift crises of the 1980s and was a frequent commentator on bank regulation after his time in public service.
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The longtime Federal Reserve chair served under four presidents and presided over the deregulatory and pro-market push of the 1990s and early 2000s that set the stage for the 2008 mortgage crisis.
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Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
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