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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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
4h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
11h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24