Bobby Mehta and Sandy Derickson have been named vice chairmen of Household International Inc., Prospect Heights, Ill.HSBC North America Holdings, the holding company for Household and other U.S. and Canadian businesses, said Mr. Mehta's responsibilities will include Household's consumer lending and mortgage services businesses, HSBC Bank USA's first-mortgage operations, and the strategic planning and corporate marketing for HSBC North America. Ms. Derickson's responsibilities will include Household's retail and insurance services, refund lending, and HFC Bank UK. The holding company also announced other personnel changes, most of which take effect May 1. Household managing directors Patrick Cozza, J. C. Faulkner, Adrian Hill, and Walter Menezes have all been promoted to group executive at Household, and James Kauffman, Household senior vice president for policy and compliance, has been named executive vice president for policy and compliance at HSBC North America. In addition, Seamus McMahon will join Household as an EVP; Household controller Kay Nelson has been promoted to SVP and chief accounting officer; and Jeanne Ebersole, Household's VP for human resources, will move to HSBC Bank USA in New York as EVP for human resources. The companies can be found online at http://www.household.com and http://www.us.hsbc.com.
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Dream Finders Homes made its intentions public in an effort to push for shareholder approval following Beazer's rejection of two prior offers.
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Market watchers say that the economy as a whole is holding up under higher energy prices and do not expect a recession. Even so, observers are watching financial markets and consumer spending for signs that inflation expectations are taking hold.
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Prices rose 0.32% last month on a seasonally adjusted basis, equal to a 3.9% annualized rate, according to ICE Mortgage Technology's mortgage monitor report.
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Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases.
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While those electing cash could receive $12.50 per share, UWM's all-stock alternative remains unchanged from the company's initial agreement for Two Harbors.
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The changes include clearer and revamped questions and updated requirements for criminal, regulatory and financial disclosures, the CSBS said.
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