Wes Iseley and Arvin Wijay have been hired by Morgan Stanley Credit Corp. in Orange County, Calif., to help build "a world-class wholesale [mortgage] lending platform," according to Morgan Stanley.Mr. Iseley, as executive vice president, will head the company's wholesale mortgage lending operations, and Mr. Wijay will hold the title of senior vice president. Mr. Iseley, 47, has more than 25 years of experience in the subprime mortgage industry, Morgan Stanley said. He most recently held responsibilities for sales, servicing, operations, and support at Fremont General Investment & Loan, a Santa Monica, Calif.-based mortgage originator where he was employed for five years. Before that, he was at Associates First Capital for 19 years, Morgan Stanley said. Mr. Wijay, 38, has over 12 years of experience in financial analysis and planning.
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The 30-year fixed rate mortgage was down another 9 basis points this week, Freddie Mac said, but much of this pricing was before the Federal Reserve meeting.
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Whereas AI can supercharge returns on investment in fulfillment and databases, the tech may also replace your entire staff, experts warned.
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The company will now consider loans up to $819,000 as government-sponsored enterprise-eligible, even though it cannot sell them to the agencies until Jan. 1.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17