Robert Lewis, currently senior vice president of institutional lending sales, has assumed a new leadership role in wholesale lending as division manager for the Central Region at Wells Fargo Home Mortgage.Wells also has confirmed that it has hired David Stevens, previously a senior vice president at Freddie Mac, to lead the sales, institutional lending branch operations and client support functions in its wholesale business line. MortgageWire had learned on May 23 that Mr. Stevens had left Freddie for the post at Wells. Prior to joining Freddie Mac in 1998, Mr. Stevens was a group senior vice president and national loan manager at World Savings of Oakland, Calif. He is based at Wells Fargo's McLean, Va., wholesale office. Institutional lending works with mortgage brokers, bankers and mortgage companies to buy and close their mortgage loans.
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New American Funding also promoted Stacy Chevalier Northwest regional vice president, and MISMO added three members to its board of directors.
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A lawsuit claims the bureau regularly assigns higher-responsibility examination work to Black workers without corresponding pay bumps or promotions.
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GSE loans between 30 and 59 days late on their payments saw a 13 basis point rise in delinquency rates, while most non-agency MBS types saw annual increases.
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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.
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As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
September 25 -
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.
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