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.
The Consumer Financial Protection Bureau has finalized changes to Regulation B, which implements the Equal Credit Opportunity Act, to eliminate any liability for indirect discrimination by lenders. The change represents a major shift in how the agency polices lending discrimination.
The company will be using a simplified name and a new logo it says shows its unified business model, but its longstanding tagline will stay in place.
The investment property owner says she was stonewalled and humiliated by BofA's loan officers, and that an error-riddled appraisal was short by over $70,000.
An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts.
The new law adds rules, including counseling requirements, which would put severe constraints on originations of HEIs, an industry representative said.
Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs.
