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 Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
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Of the 15 states most affected by natural disasters, California and Florida had the highest non-renewal rates in 2024, a Weiss Ratings study found.
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The deal will help drive development at Mortgage Cadence, which had been a unit of Accenture, and enable new integrations and automation, according to leaders.
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A regulation requiring nonbanks to report violations of local and state orders to federal offices was redundant and offered no benefit, mortgage leaders said.
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Mortgage loan application volume jumped 7.1% on a seasonally-adjusted basis last week, the Mortgage Bankers Association said.
October 29 -
Shareholders' equity topped $105 billion as net income rose 16% from the previous quarter and nearly matched year-ago results.
October 29





