Michael Blair, EVP and chief operating officer of Franklin Credit Management Corp.'s servicing department, plans to resign Dec. 30 and the company said his successor would soon be named. The unnamed new EVP/COO is expected to join the company's management team in the next few weeks, the company said. Franklin's chairman Thomas Axon said he is "looking forward to possibly working" with Mr. Blair again in the future. Mr. Blair is said to be resigning to pursue other interests.
Non-qualified mortgages account for 23.1% of the series 2026-7 pool, by balance, and 43.4% of the loans in the pool were made to investors for business purposes and are exempt from the Ability-to-Repay rules.
Besides promoting Sridhar Sharma to CEO from president, the company named Andrew Bon Salle, ex-Fannie exec, as its new chairman, both replacing Chris Marshall.
Several proposed updates, including lower risk-weight floors for certain securitizations and corporate loans, could make it more attractive for banks to finance or hold certain private credit-related assets, experts say.
Federal Reserve Gov. Michael Barr appears to be among the majority of monetary policymakers who foresee at least one more rate hike before the end of the year.
Several lawsuits filed this year have painted the shared appreciation agreements as misleading, and suggest they should be treated as mortgage loans.
Attom expanded its artificial intelligence platform, eLend partnered with Ready4Remodel to increase renovation financing and Keller Williams teamed up with Rejig.ai.
