Mary Kelsch, a senior director at Fitch Ratings, has been named to oversee the newly merged U.S. RMBS Servicer Rating and Originator Review teams of Fitch's Operational Risk Group."Consolidating the two [residential mortgage-backed securities] Operational Risk teams under a single manager will allow the synergy needed during this cycle in the industry," said Diane Pendley, a Fitch managing director. "The quality of origination, uniqueness of products, and issues such as early payment defaults and fraud greatly impact the actions of the servicer. In reverse, the servicer's ability to monitor and report on these issues, as well as to contain or control defaults and losses they may cause, should be brought back into the review of the originators' platforms." Ms. Kelsch, a 10-year veteran of Fitch, was instrumental in developing the company's RMBS servicer rating program, the rating agency said.
-
Better's home equity loan product can be originated in a week or less, the company says.
2m ago -
The top five producers had an average dollar loan volume of more than $140 million in 2023.
3h ago -
The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
5h ago -
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22 -
The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
April 22 -
The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
April 22