Samuel D. Marsico has been named senior vice president and chief risk officer of Genworth Financial Inc., a Richmond, Va.-based holding company that provides mortgage insurance and other insurance products.Mr. Marsico was most recently CRO of the company's mortgage insurance business, where he helped support its international expansion, Genworth said. He replaces Mark W. Griffin, who became the company's chief investment officer in October. Before joining Genworth in 1997, Mr. Marsico held various posts in auditing and finance with Price Waterhouse and General Electric Co. Genworth can be found online at http://www.genworth.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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