Freddie Mac is losing its treasurer, Louise Herrle, to General Motors Acceptance Corp., which is in the throes of forming a new holding company for its mortgage division.Ms. Herrle is expected to play a key role in the new holding company -- which does not yet have a name -- tapping the capital markets. Her title at the GMAC holding company will be managing director, corporate finance group/treasurer. Her last day at Freddie Mac is Sept. 15. (See the Sept. 13 issue of National Mortgage News for more information on GMAC's plans for the holding company.) Freddie Mac can be found on the Web at http://www.freddiemac.com.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24