Paul J. Abbamonto has been named executive vice president and chief production officer of ResMAE, a wholesale specialty residential mortgage lender and servicer based in Brea, Calif.Mr. Abbamonto joined ResMAE in 2002 as executive vice president of wholesale production. He will now be in charge of commercial and correspondent lending (as well as wholesale lending), portfolio management, and loan servicing, the company said. ResMAE, which stands for Residential Mortgage Assistance Enterprise, can be found online at http://www.resmae.com.
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The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
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Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.
September 11 -
Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.
September 11 -
The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
September 11 -
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
September 11 -
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
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