Mortgage industry veteran Richard A. Mirro has been elected as an independent member of the board of directors of ResMAE Financial Corp., a wholesale specialty residential mortgage lender and servicer based in Brea, Calif.Mr. Mirro was previously chairman and chief executive officer of North American Mortgage Co. and executive vice president of Dime Savings Bank, NAMC's parent company. Before that, he was chairman and CEO of Fleet Mortgage following a decade at Chase Manhattan Mortgage, ResMAE said. The wholesaler also announced the election to the board of Robert E. Dean, who was most recently a senior managing director of Ernst & Young Corporate Finance LLC. M. Jack Mayesh, chairman and co-CEO of ResMAE, said the two new directors will be "tremendous assets as ResMAE rapidly expands throughout the country during the next year."
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The government guarantor aims to distinguish delinquencies reported as a result of a Federal Housing Administration rule change from broader market trends.
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The Long Island-based regional bank, which has been in turnaround mode for two years, reduced its earnings per share guidance for 2026 and 2027. It cited an expected decrease in net interest income due to higher levels of payoffs and paydowns in commercial real estate.
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Delinquencies also showed signs of overall improvement in March, despite an increase in foreclosure numbers, ICE Mortgage Technology said.
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But in its earnings release, parent company Hilltop Holdings warned its full year 2026 results are going to be impacted by things outside of its control.
April 24 -
U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.
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The bank denied Black, Latino and Asian mortgage applicants roughly twice as frequently as white applicants in North Carolina, according to a study from the Americans for Financial Reform Education Fund.
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