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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After two consecutive quarters of profits, independent mortgage bankers lost money in the most recent period, for the ninth time in the last three years.
1h ago -
A federal judge in Maryland ruled against the City of Baltimore's attempt to block cuts to Consumer Financial Protection Bureau program funding on procedural grounds.
1h ago -
Thirty-eight TD Bank locations and 24 Flagstar branches are set to shut down. Both banks are coming out of tumultuous periods.
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Mortgage originators are still struggling with profitability, and getting their income and costs to pencil out could mean the company's survival.
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The average size of purchase applications fell below the $400,000 mark, reflecting first-time home buyer interest, the Mortgage Bankers Association said.
March 13 -
Three Democratic senators joined Republican colleagues to confirm the businessman, who previously voiced his support for easing government regulations.
March 13