Michael I. Wirth, chief financial officer of New York Mortgage Trust Inc., will resign Nov. 3 and be replaced on an interim basis by Steven R. Mumma, the company's chief investment officer and chief operating officer.Mr. Wirth, 48, is resigning "to pursue another opportunity," the company said. Mr. Mumma, 47, has been the company's COO since November 2003 and its chief investment officer since July 2005. He was previously vice president of Natexis ABM Corp. and vice president of mortgage-backed securities trading at Credit Agricole. NYMT, a real estate investment trust, can be found online at http://www.nymtrust.com.
-
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
8h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24