Chris Lau and Kin Lee have been named to co-head the commercial mortgage-backed securities secondary trading desk of RBS Greenwich Capital, Greenwich, Conn.Mr. Lau is a veteran of the firm's CMBS desk, while Mr. Lee is a veteran trader who was most recently a CMBS secondary trader with CSFB. Both will hold the titled of managing director and co-head of CMBS secondary trading. They will report to Chris McCormack, the head of CMBS trading for RBS Greenwich Capital. The company can be found online at http://www.rbsgc.com.
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Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.
2m ago -
United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
August 12 -
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
August 12 -
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
August 12 -
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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