The Mortgage Bankers Association has announced the leadership of its 2007 Commercial Real Estate/Multifamily Finance Board of Governors, which focuses on commercial/multifamily real estate finance policy issues and initiatives.The COMBOG officers are: Edward Padilla, chief executive officer of Minnesota-based NorthMarq Capital Inc., chair; Daryl J. Carter, CEO of CharterMac Mortgage Capital, vice chair; and Steven K. Graves, chief operating officer of Principal Real Estate Investors, vice chair. The MBA also announced the addition of four new members to the 30-member board: E.J. Burke, executive vice president and group head of KeyBank Real Estate Capital; Jan S. Sternin, senior vice president of Midland Loan Services Inc./PNC Real Estate Finance; Mark Talgo, senior managing director of New York Life Investment Management LLC; and Eric Von Berg, principal of Newmark Realty Capital Inc. The announcement was made at the 93rd Annual Mortgage Banking Association Convention & Expo in Chicago. The MBA can be found online at http://www.mortgagebankers.org.
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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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