Taj S. Bindra has been named executive vice president and chief financial officer of New Century Financial Corp., a real estate investment trust and mortgage finance company based in Irvine, Calif.Mr. Bindra will assume the EVP post on Nov. 6 and the CFO position on Nov. 15, New Century said. He will replace Patti M. Dodge, who is scheduled to take over as executive vice president of investor relations on Nov. 15. Mr. Bindra was most recently executive vice president of mortgage banking, capital markets, and servicing operations at Washington Mutual Inc. New Century can be found online at http://www.ncen.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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