The Mortgage Bankers Association has announced the election of Robert E. Story Jr., president of Seattle Financial Group, as chairman of its Residential Board of Governors and Robert H. Griffith, senior vice president at Bank of America, Charlotte, N.C., as vice chairman.The MBA also named 22 newly elected members of RESBOG, the 60-member governing body for the MBA's residential/single-family members, responsible for identifying legislative and regulatory policies on single-family residential lending and for making recommendations to the MBA's board of directors. The announcements were made at the association's 93rd Annual Convention & Expo in Chicago.
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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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