Former Sovereign Bank chairman and chief executive officer Jay Sidhu has been named chairman and CEO of New Century Bank, Phoenixville, Pa. Mr. Sidhu, who left Sovereign in 2006, has since been working as industry consultant and also set up a private equity firm called Sidhu Capital Partners. Spain's Madrid-based Banco Santander currently owns Sovereign.
Homeowners won't trade in their cheap mortgages so lenders keep finding other ways to reach that equity. Bond buyers keep showing up.
The filing alleges TWO executives engaged in a "stealth mission" to get the deal canceled, including subverting participation in a March shareholder vote.
One of three Federal Open Market Committee members to vote for a higher federal funds rate last month, the Cleveland Fed president is undeterred by the labor force decline in July.
Some equity and credit agency researchers have lowered their sights in line with market changes, but their forecasts suggest stability for those that pivot.
The new record arrives after five months of annual home-price growth, which surged to its highest in more than a year, according to ICE Mortgage Technology.
The arm of the asset management giant is paying over $100 million for the Cherry Hill business started in part with Freedom Mortgage over a decade ago.
