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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Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
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The addition of HELOCs at SoFi comes alongside the launch of a new advisory group, as the company heightens its focus on real estate lending.
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The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.
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Builder mortgage units saw Q1 profit slides (NVR down 17%) despite an 11% rise in new home loan applications. Overall homebuilder net income dropped, and sales incentives remain high.
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Toll Brothers' purchase of Buffington Homes of Arkansas will extend its national outreach with a strong presence in northwest Arkansas, the company said.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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