R.J. Arnett has been named to the new position of executive vice president and national wholesale prime production manager of MortgageIT Inc.Mr. Arnett was most recently senior vice president and co-manager of the Western region of MIT Lending, MortgageIT's wholesale lending division. His new responsibilities were formerly held by Gary Bierfriend, who was recently elevated to president of MortgageIT. Before joining MIT Lending, Mr. Arnett spent nine years with Countrywide, departing as executive vice president of its wholesale division.
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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.
September 17 -
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 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17