Thomas J. Wurtz will step down as chief financial officer of Wachovia Corp., Charlotte, N.C., after a successor has been named, according to the company. Wachovia said it will immediately launch a search for a replacement. The reason for Mr. Wurtz's decision to step down was not disclosed. He served as the company's treasurer for seven years before becoming CFO two-and-a-half years ago, Wachovia said. The company can be found on the Web at http://www.wachovia.com.
House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
