Alexander Gordon Jardin has been named chief executive officer of Franklin Credit Management Corp., a New York-based company that specializes in buying, managing, and selling subprime residential mortgage assets.Mr. Jardin, a member of the company's board, was most recently a consultant to start-up life and health reinsurance companies, Franklin said. From 2000 to 2004, he was president and chief operating officer of General USA Life Reassurance Co. and senior vice president for reinsurance at Business Men's Assurance Co., both wholly owned subsidiaries of Assicurazioni SpA, a global insurer based in Italy. Franklin can be found online at http://www.franklincredit.com.
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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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