American International Group subsidiary United Guaranty Corp., Greensboro, N.C., has a new chief operating officer who — like the company's recently named chief executive — at one time worked for Safeco Corp., Seattle. Kim Garland will have responsibility for UGC's claims service and operations, business development, underwriting, marketing and risk management functions. Most recently, he was the president of the Open Seas Solutions group for Safeco. UGC president and CEO Eric Martinez, before joining the mortgage insurer's parent company AIG, New York, earlier this year, was executive vice president — claims, customer care and business operations for Safeco. Mr. Garland's previous positions also include being vice president, auto product management at Safeco, and before that he held various senior management and actuarial positions at Safeco and GEICO.
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Under the proposed rule, the definition of a manufactured home would allow upper floor sections to be transported and constructed without a permanent chassis.
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Even though the SAFE Act does not require AI loan officers licensing, other laws, as well as regulators, still look for a person to be responsible.
June 12 -
The government-related market's push has intensified efforts to draw up classic FICO comparisons or set up interim rating policies pending more data.
June 12 -
The changes provide standardized appraisal guidance in advance of a mandatory compliance date to a new reporting format in November this year.
June 12 -
Provident Bank says My Mortgage used a $10 million line of credit to fund dozens of ineligible, dilapidated properties and sold them to their own employees.
June 12 -
OneTrust Home Loans says its employees secretly used Floify to funnel loans to brokerage E Mortgage Capital, which were then funded by the wholesale giant.
June 12







