S.A. Ibrahim, a 27-year veteran of the banking and mortgage industries, has been named chief executive officer of Radian Group Inc., a Philadelphia-based mortgage insurer and provider of credit enhancement products and services.Mr. Ibrahim, 53, succeeds Frank Filipps, who is retiring from Radian. The appointment is effective May 5. Mr. Ibrahim was most recently president and chief executive officer of GreenPoint Mortgage, and he was previously GreenPoint's chief operating officer, leading the company through the acquisition of Headlands Mortgage, Radian said. Mr. Ibrahim was also employed by American Express and by the mortgage lending unit of Chemical Banking Corp., where he was CEO and COO.
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Nonbanks with servicing portfolios saw earnings dip, while expenses for most shot up in anticipation of more origination volume.
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The Great Financial Crisis changed not only how Luxury Mortgage operated, but what its name stands for, shifting from the high-end of the market, founder David Adamo said.
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Rejections for mortgage credit outpaced almost every other borrowing category, according to the Federal Reserve Bank of New York.
November 21 -
Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.
November 21 -
Smaller players face challenges when it comes to mortgage servicing rights, and larger ones have varying motivations, experts at an industry meeting say.
November 21 -
The 30-year fixed rate mortgage average resumed its climb that started in September, as the benchmark 10-year Treasury price still reflects views on inflation.
November 21