David Spector has been named managing director and head of the Pan-European residential mortgage business in Morgan Stanley's Securitized Products Group.Mr. Spector joins Morgan Stanley after 16 years at Countrywide Financial Corp., where he was most recently senior managing director of capital markets. He will be based in London and will be responsible for expanding Morgan Stanley's residential mortgage business in Europe, the company said.
The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
