Rod Colombi has been named executive vice president of corporate development at Option One Mortgage Corp., Irvine, Calif.Mr. Colombi was most recently executive vice president of corporate finance at New Century Financial Corp. He rejoins Option One after serving as the company's vice president and manager of secondary marketing from 1996 to 2001, Option One said. He previously worked for Countrywide Financial Corp. and Bank of America. Option One, a subsidiary of H&R Block Inc., can be found on the Web at http://www.optiononemortgage.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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