Stephen J. Rotella has been named to the newly created position of chief operating officer of Chase Home Finance, a unit of Chase Manhattan Corp. based in Edison, N.J., that deals with mortgages, home equity loans, and manufactured housing.Mr. Rotella, 45, will be responsible for post-production, servicing, technology, and underwriting and will report to Tom Jacob, the chairman and chief executive officer of Chase Home Finance. Mr. Rotella joined the company in 1987 and, over the past seven years, has directed its servicing business. Chase originated $40 billion in residential mortgages in 1997 and has a servicing portfolio of $178 billion.
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The serial entrepreneur, who also created Rapid Reporting and American Transfer & Trust, plans to remain active in industry causes, a LinkedIn post said.
September 18 -
Almost 45% of buyers received a seller concession this summer, while more than 15% saw a reduction in the asking price to go along with it, according to Redfin.
September 18 -
With 55% of homeowners planning to renovate rather than relocate, demand for home improvement capital will be strong even if the purchase market slows further.
September 17 -
Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.
September 17 -
The Securities and Exchange Commission said Rule 14a-8 exceeds its statutory authority and intrudes on matters of state law. Shareholder advocacy groups, however, argue that repealing the rule could reduce transparency.
September 17 -
Brian Johnson's nomination to lead the Consumer Financial Protection Bureau advanced to the full Senate Thursday morning in a party-line vote.
September 17










