Virginia Martinez has been named senior vice president for the Southern California region of Metrocities Mortgage LLC, a residential mortgage lender based in Sherman Oaks, Calif.Ms. Martinez, a previous employee at Metrocities, will be responsible for managing the Sherman Oaks Loan Center, working with the company's MetroAmerica Division for expanding markets, and providing support for the Santa Barbara and Pasadena loan centers, Metrocities said. Ms. Martinez has had 25 years of experience in the financial industry, including 13 years in mortgage banking, the company said. She was most recently an area sales manager for Countrywide Home Loans. Before that, she managed several Metrocities loan centers in Los Angeles, Orange, and Ventura counties. Metrocities can be found online at http://www.metrocitiesmtg.com.
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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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