Freddie Mac is losing two senior executives.Kevin J. Finnerty, senior vice president of investor and dealer services, is leaving the company, as is Ann Schnare, senior vice president of corporate relations. No reasons were given for their departures. Ms. Schnare has agreed to stay on until a replacement is found, but Mr. Finnerty is leaving right away. Mr. Finnerty, a Wall Street veteran who has worked for U.B.S. Securities and Bear Stearns, is in charge of sales and trading for the mortgage giant. (See the June 14 issue of National Mortgage News for more details.)
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The changes add some steps that would have to be taken before Fannie Mae and Freddie Mac could exit following statements from a Trump ally indicating plans for a near-term release.
4h ago -
The Stamford, Connecticut-based bank hired Steven Sugarman to be its president. The former bank CEO, who now heads one of the country's largest mission-based lenders, will help drive an effort to close a capital gap.
5h ago -
Bill Ackman, founder of Pershing Square Capital Management, predicts Fannie Mae and Freddie Mac will be removed from conservatorship within the next two years.
8h ago -
The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.
9h ago -
Refinance demand fell precipitously as average contract interest-rates for most loans rose in the two-week leadup to Christmas.
11h ago -
The CapitalW Collective supplements the work other organizations do by addressing the educational needs of women and others in the specialized portions of the mortgage business.
January 2