Richard Payne has been named president of wholesale operations at The New York Mortgage Co., New York, and Joseph Gorton has been named chief operations officer of the division.NYMC said Mr. Payne, a 25-year veteran of the mortgage industry, was formerly a managing director of Lehman Brothers and executive vice president of wholesale development for Lehman's Aurora Loan Services. He was previously president and chief executive officer of SIB Mortgage Corp. Mr. Gorton, a 20-year industry veteran, was formerly EVP and COO at SIB Mortgage. His previous positions include vice president for lending operations at GMAC Mortgage, EVP and national operations manager at Eastern Mortgage Services, and first vice president for production support at Anchor Mortgage Services. NYMC can be found online at http://www.nymc.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25