And doing business as a too-big-to-fail bank means more money transactions by volume, compared to smaller banks. Mix that with a perception that the big bank is too-big-to-fail and investors show favoritism.
The New York Federal Reserve announced Tuesday it selected William C. Dudley as its new president and CEO. Dudley, 56, will succeed Timothy Geithner, who was sworn in as the new Treasury secretary late Monday.
They've been called "the dream team" -- dubbed by supporters as brilliant, outstanding and exceptionally talented, President-elect Barack Obama unveiled nominations for his administration's economic team Monday. Among them is current New York Federal Reserve President Timothy Geithner, who Obama has tabbed as the next secretary of the U.S. Treasury, a position that will undoubtedly shape the tenor of the mortgage financial market for the next four years.
As Ben Bernanke delivered largely unsurprising remarks Tuesday suggesting that a formalized regulatory structure was needed to manage future potential failures of large investment banks, lawmakers in the House of Representatives said they would hold the first of a series of hearings on growing systemic risk in the nation's financial markets.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More