CFPB names Mulvaney, Hensarling aide Brian Johnson deputy director Hensarling aide to join CFPB as chief of staff. reported that Brian Johnson, a top hensarling aide, had left the House Financial Services Committee to help CFPB Acting Director Mick Mulvaney.
Equities staffs are shrinking at Bank of America, JP Morgan, Morgan Stanley, Citi and other global banks. Falling commissions and weak volumes are to blame. Bank of America is cutting 40.
The refinancing bank collects fees and other revenue. Room to Fall. Bank of America bond analysts and MortgageDaily.com, an industry-news website. MortgageDaily.com says the data are skewed by how.
Wells Fargo Continues Mortgage Staff Layoffs as Refinancing Volume Drops. Wells Fargo took over from Bank of America. the total volume of refinancing in the United States was a whopping $1.
Seattle cuts ties with Wells Fargo over controversial oil pipeline, etc. Olivia One Feather (right) of the Standing Rock Sioux tribe, Jessica Dominy (center) of the Muckleshoot tribe, and Paul Cheoketen of the Wagner Saanich First Nations smile after the Seattle City.
Wells Fargo Continues Mortgage Staff Layoffs as refinancing volume drops. wells fargo late Wednesday confirmed plans for 1,800 additional layoffs of mortgage production staff, according to a Bloomberg report.: Please read the full article on The Street.com.
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Bank of America to Lay Off 120 at Simi Valley Loan Center Bank of America is laying off more than 120 employees from its home loan department in Simi Valley effective later this year. The financial institution said the layoffs will occur in two phases – May 13 and Nov. 7 as it consolidates and reduces staff. – read more
Research by Black Knight Financial Services finds 42% of mortgage refinances last fall saw borrowers taking cash out of their homes (the highest percentage since 2008). The average cash out amount was $60,000, but even after that the ltv post refinancing was still 67% (the lowest level on record).
Layoffs in Bank Mortgage Units Hint Refi Boom Is Over. Big banks have already reacted to higher mortgage rates and lower refinancing volumes by shuttering mortgage. mortgage rates could fall.
Fannie, Freddie loans hit series high in National Mortgage Risk Index Federal Reserve data found more than 84% of the subprime mortgages in 2006 coming from private-label institutions rather than Fannie and Freddie, and the share of subprime loans insured by Fannie Mae and Freddie Mac decreasing as the bubble got bigger (from a high of insuring 48% to insuring 24% of all subprime loans in 2006).
More layoffs at Bank of America; ‘small number’ of jobs in Charlotte affected . By Hilary Burns – Staff Writer . Feb 25, 2016, 12:01pm EST. Bank of America laid off employees around the.
With much of the steam out of the refinancing market, the mortgage financing industry is bracing for widespread layoffs. Two of the biggest. Mutual said it expected its mortgage volume in the.
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It’s official: American Capital buys Residential Credit Solutions With the decreases, rates for Mon Power and Potomac Edison’s West Virginia residential. with its consolidated subsidiaries (FirstEnergy), as such relate to the entities previously consolidated into.