Sal Mirran, a Bank of America real estate executive, has been named senior vice president of single-family business and strategy development at Fannie Mae.The government-sponsored enterprise also announced that Eric Schuppenhauer, a Credit Suisse First Boston executive, has been named Fannie's senior vice president of accounting policy and that Scott Lesmes has been promoted to senior vice president and deputy general counsel. In addition, executive vice president and general counsel Ann Kappler will leave Fannie Mae at the end of the year to join the Collier Shannon Scott law firm. Mr. Mirran, the new SVP for single-family business, was most recently senior vice president and head of capital markets at BoA's Consumer Real Estate Division, Fannie Mae reported. Before that, he was a managing director and head of residential mortgage finance at First Union Securities Inc. Fannie Mae can be found on the Web at http://www.fanniemae.com.
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Freedom alleged the executive, who was at the company for nine months, used proprietary data to build his own product he expected to net more than $1 million.
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Despite high rates and the "locked-in" effect, many Gen Z and millennial homeowners want to bring down their monthly mortgage payments
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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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