The WSJ’s Steven Rattner says that the U.S. economy is just fine, thank you — and that the financial innovations now causing heartache for many also managed to spread risk out, which is a good thing. We especially like how he calls out blogging critics as calling plays “from the bleachers.” A ploy to win friends, no doubt.
Document and compliance service provider DocuTech put out a press statement today, and the message was clear: we’re at a trade show! It’s an age old tradition to blow some money on a press statement when exhibiting, and DocuTech didn’t disappoint. (The company also said it’s added 14 new clients in the past quarter, so not all tech firms are doing poorly.)
No apologies to Paris Hilton, but the truth is that compliance and risk management are hot right now. Witness IMS, a property preservation vendor, that said Monday it’s hired Kathy Sutton as its risk and compliance officer. Sutton joins IMS from LandAm, where she worked inQA operations.
The NCRC started touting its annual convention today, noting that none other than Ben Bernanke will deliver a keynote at the event in mid-March. We think the Fed chief’s speech should be titled “Can’t You Guys Just Fix This? I Can Only Drop the Target Rate So Much,” but that’s probably just us.
Wachovia Securities said earlier Monday that Jeremiah Keefe has joined its Fixed Income division as managing director and head of distressed debt; it’s a newly-created position, and more proof that distressed debt is now the hottest sector in i-banking. Wachovia poached Keefe from Deutsche Bank.
Admit it: you knew it was too good to be true when you heard that an economic stimulus plan was flying through Congress. Senate Democrats are proving to be more than a speedbump, reports the AP. We’ve heard that Senate Republicans don’t like the GSE loan limit provisions being proposed, either.
CR over at the Calculated Risk blog tackles the newest meme among borrowers — walking away, even if loans are recourse, in order to get into a now-devalued (and cheaper) house. What’s amazing is that this can even happen; it’s not that hard to find out if a borrower has another mortgage.
(January 25, 2008) — Wachovia Corporation announced that David Pope has been named president of Wachovia Mortgage and Retail Credit.
(January 8, 2007) — Genworth Financial Asset Management announced today that Tim Knepp has rejoined the company as chief investment officer.
(January 8, 2007) — Mortgage Contracting Services (MCS), a provider of property preservation and inspection services to the mortgage industry, has named Joseph Caballero managing director for the company’s new division, Mortgage Contracting Services Asset Management.
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