Smith Barney has hired Prudential official Bradley Ball to be its new mortgage equities analyst, replacing the departing Matt Vetto.Mr. Ball worked for Prudential Securities as recently as late September. As an analyst there, he covered Freddie Mac and other stocks. An official at Citigroup said Mr. Vetto, who could not be reached for comment, went to work for a hedge fund. Mr. Vetto's coverage universe included Fannie Mae, Freddie Mac, and Countrywide Financial.
Freedom alleged the executive, who was at the company for nine months, used proprietary data to build his own product he expected to net more than $1 million.
Despite high rates and the "locked-in" effect, many Gen Z and millennial homeowners want to bring down their monthly mortgage payments
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.
Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.
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.
