An industry group backed by the Federal Reserve Bank of New York on Thursday suggested ways to strengthen controls and reduce disruptions in key US debt markets. The Fed — the US central bank — is trying to address an increase in failed trades in the agency mortgage-backed securities market. A trade “fails” when a security is not delivered on time.
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Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
Realogy will be renaming NRT, the business unit that includes Corcoran Group, Sotheby’s International Realty and Coldwell Banker.