Doug Duncan is moving to Fannie Mae after serving as the Mortgage Bankers Association's chief economist for the past 15 years. Mr. Duncan will be filling Fannie's chief economist chair, which has been vacant since David Berson retired in October and became the top economist for mortgage insurer PMI. "Over the past 15 years, Doug has built a smart and talented team that has driven MBA's growth and success in the data and research field," MBA president and chief executive Jonathan Kempner said. But his expertise and counsel will be "sorely missed," Mr. Kempner added. Last year, the MBA initially downplayed the significant of rising subprime defaults and tried to calm fears that those problems would spill over to the prime mortgage market or affect the overall economy.
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Lenders and other businesses active in the state also stepped up with large donations and charitable campaigns in the days following the flooding disaster.
July 8 -
The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.
July 8 -
California-based Dunmor said it is launching a wholesale division, which will be led by a former Newfi executive.
July 8 -
A federal judge rejected defenses by a brokerage that acknowledged selling loans to both United Wholesale Mortgage and rival Rocket Pro TPO.
July 8 -
Onity Group's Jack Cavanagh describes how data science has changed processes in the mortgage industry and what type of misconceptions still exist about AI.
July 8 -
New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the "medium to long term."
July 7