John V. Britti has been named vice president of community lending at Freddie Mac.Mr. Britti will manage all of Community Lending's sales efforts and customer relationships, as well as the sales force and organization, the government-sponsored enterprise said. He will report to Dave Stevens, Freddie Mac's senior vice president of single-family lending. Mr. Britti was most recently vice president of adjacent lending operations and mortgages at Capital One Financial Corp., where he re-launched the company's mortgage business and led operations for its Direct Bank, installment lending, and new business integration, the GSE said. Mr. Britti previously held positions with several companies, and he worked at Freddie Mac from 1994 to 1998 as a vice president of pricing and structured transactions.
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The head of the government-sponsored enterprises' oversight agency also asked existing investors to review risk factors as officials eye a new public offering.
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More than 4,000 federal workers received notices Friday that their last day will be Dec. 9.
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America's second-largest bank revised its net interest income target upward after what analysts called a "clean" third quarter.
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The megalender is accusing a nearby brokerage of skirting labor laws and avoiding significant overhead costs in misclassifying hundreds of employees.
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The new platform already counts two businesses as embedded partners, with the rollout coming as mortgage leaders see rising demand coming for DSCR loans.
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Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.
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