Nigel Drummond has been named executive vice president for operations of Home Capital Inc., an Atlanta-based mortgage lender.Mr. Drummond was most recently senior vice president of operations with responsibility for building processes and procedures, as well as staffing the processing, underwriting, and closing departments, Home Capital said. He is currently focused on increasing the staff at the company's Atlanta headquarters and its new Phoenix Operations Center. Before joining Home Capital, Mr. Drummond served as vice president of operations at U.S. Bank. In other personnel news, Home Capital announced the hiring of Mike Cozzocrea as senior vice president of secondary marketing. Mr. Cozzocrea was most recently senior vice president of secondary marketing/operations at Homeowners Loan Corp., Atlanta. The company can be found online at http://www.homecapitalinc.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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