Irwin Financial Corp., a mortgage banker and home equity lender based in Columbus, Ind., has announced that it will eliminate the position of executive vice president held by 31-year company veteran Thomas D. Washburn as of Dec. 30.As of that date, the 60-year-old Mr. Washburn will assume the title of vice chairman to help the company shift his responsibilities to others by June 30, 2008, Irwin said. His current direct responsibilities as chairman of the company's three lines of business will be transferred on Dec. 30 to Irwin chairman and chief executive William I. Miller. The company said Mr. Washburn's separation agreement includes payment to him of approximately two times his current base salary and target bonus, among other things, and is expected to cost the company approximately $1.1 million. The company can be found online at http://www.irwinfinancial.com.
-
Pricey insurance, expensive maintenance, and struggles with financing are all weighing down the condo market, with Florida and Texas feeling it the most.
9h ago -
The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
10h ago -
The new integration supports the upcoming Uniform Appraisal Dataset 3.6, which becomes available in September, with mandatory use 14 months later.
10h ago -
The prime jumbo RMBS transaction is collateralized by 402 residential mortgage loans.
11h ago -
The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
11h ago -
The Senate version makes permanent the mortgage interest and mortgage insurance premium reductions, removes the revenge tax but also cuts CFPB funding.
July 1