Michael D. Meyer has been named executive vice president for the new Texas operations of Homefield Financial, a mortgage banker based in Irvine, Calif.Mr. Meyer will oversee the firm's expansion into the Texas market, from which it will primarily serve Homefield's customers in the Central and Eastern United States, the company said. Homefield said it will open its Irving, Texas, loan center in April with 20 employees and expand it to 150-200 employees over the next 18 months. Before joining Homefield, Mr. Meyer served as president of Fort Worth, Texas-based Touchstone Communications, an offshore business process outsourcing company serving major U.S. mortgage companies. He was previously a senior vice president with Associates First Capital Corp. in Dallas, and he also worked with NovaStar and Oak Street Mortgage.
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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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