David H. Stevens, the man in charge of sales for Freddie Mac, has left the mortgage giant for one of its largest customers, Wells Fargo Home Mortgage, San Francisco, MortgageWire has learned.A spokesman for Freddie Mac confirmed that Mr. Stevens had left the government-sponsored enterprise. He said Mr. Stevens will head the correspondent division of Wells Fargo Home Mortgage. In May 2003 Freddie Mac named Mr. Stevens to lead its national lending division. At the time he was senior vice president and general manager of the company's community lending division.
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New American Funding also promoted Stacy Chevalier Northwest regional vice president, and MISMO added three members to its board of directors.
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A lawsuit claims the bureau regularly assigns higher-responsibility examination work to Black workers without corresponding pay bumps or promotions.
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GSE loans between 30 and 59 days late on their payments saw a 13 basis point rise in delinquency rates, while most non-agency MBS types saw annual increases.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
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As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
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A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
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