Frederick Cannon, an equity researcher in the mortgage sector, has been promoted to the newly created positions of associate director of research and chief equity strategist of Keefe, Bruyette & Woods Inc. Mr. Cannon, 51, joined KBW in 2003, providing equity research on banks and thrifts specializing in the mortgage sector. He was previously executive vice president and director of investor relations at Golden State Bancorp and its subsidiary, California Federal Bank.
House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
