John V. Britti has been named vice president of community lending at Freddie Mac.Mr. Britti will manage all of Community Lending's sales efforts and customer relationships, as well as the sales force and organization, the government-sponsored enterprise said. He will report to Dave Stevens, Freddie Mac's senior vice president of single-family lending. Mr. Britti was most recently vice president of adjacent lending operations and mortgages at Capital One Financial Corp., where he re-launched the company's mortgage business and led operations for its Direct Bank, installment lending, and new business integration, the GSE said. Mr. Britti previously held positions with several companies, and he worked at Freddie Mac from 1994 to 1998 as a vice president of pricing and structured transactions.
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Origination volume at the San Diego-based company rose 57% to $24 billion in 2024.
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Hsieh stepped down from a day-to-day operational role following a contentious proxy battle for board leadership in 2023 but remained a director.
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The company first entered the Canadian market in 2020 through an investment in an Ontario-based brokerage, which later rebranded to Rocket Mortgage Canada.
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For the four weeks ended March 2, pending sales were down 6.4% annually as prices continued to rise, pushing borrower monthly payments near their all-time high.
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The nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau moves to the full Senate, where he's likely to be confirmed along party lines.
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Scott Turner, secretary of the Department of Housing and Urban Development, extended borrowers more leeway after he toured the region with a local official.
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