Articles Tagged with ''Chairman and CEO''

Thain to Head Investment Banking at BofA

John Thain, current Merrill Lynch & Co. [stock MER][/stock] chairman and chief executive, was named to a “major role” in the recently combined Bank of America Corp. [stock BAC][/stock] and Merrill Lynch enterprise according to a press statement Tuesday morning. Bank of America chairman and CEO Ken Lewis said that Thain will oversee the global banking, securities and wealth management of the combined companies once the acquisition is completed sometime l
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BB&T CEO: What About the Good Banks?

A widely-unheard perspective on the bailout came to light late last week, courtesy of a letter to lawmakers from Branch Banking and Trust Co. [stock BBT][/stock] chairman and CEO John Allison, who argued that the bailout debate has been all too focused on "problem companies", and not the institutions that have maintained "healthy profitability and strong capital" -- such as his own firm -- throughout the housing crisis.
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Tech Roundup: Mortech Named Innovator of the Year by LendingTree

Mortech marks LendingTree milestone: Officials at Lincoln, Neb.-based Mortech, a mortgage technology provider, were thrilled and surprised to find out that LendingTree named the company its "Innovator of the Year" at a recent partner summit in Charlotte earlier this month. Company officials told HW they had no idea the company was receiving the award, named after LendingTree's late chief technology officer Rick Steigler, who created the patented matchmaking software for consumers and lenders before his death in 2004.
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ResCap to Cut 60 Percent of Workforce

Troubled lender Residential Capital LLC said Wednesday that it will close all 200 of its GMAC Mortgage retail offices and cease originations through the Homecomings wholesale broker channel; only the company's small correspondent and direct lending channels will remain, according to a press statement.
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Freddie Clears SEC Hurdle Towards Major Stock Sale

On Friday, Freddie Mac [stock FRE][/stock] moved ever-closer to a planned stock sale by becoming a registrant with the Securities and Exchange Commission; the company's filing of a Form 10 registration statement with the SEC is a large milestone for the company, and paves the way for the company to offer shares.
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Mortgage REIT Insider: CapitalSource Takes it to the Bank

CapitalSource Inc. [stock CSE][/stock] announced this week that it had received all necessary regulatory approvals for its takeover of Fremont General Corp.'s 22 retail bank branches and $5 billion in deposits. CapitalSource said that it will complete the Fremont transaction early in the third quarter and launch CapitalSource Bank at that time; the regulatory approvals will permit CapitalSource Bank to purchase up to $2.2 billion of loans from CapitalSource.
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Loan-Score's Growth During Downturn Highlights New Focus on Origination Efficiency

Loan Score Decisioning Systems, a provider of enterprise-class automated underwriting solutions, said earlier this week that it had relocated its corporate headquarters -- to a larger facility. Company executives characterized the growth as a way to position the company for what it expects will be a flood of renewed demand for automated underwriting in the near future.
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WaMu Confirms Rumors, Will Exit Much of Mortgage Origination Business

The rumors are true. Washington Mutual, Inc. [stock WM][/stock] confirmed Tuesday morning that it would raise $7 billion via a direct placement of securities with an investor group led by an affiliate of TPG Capital; that number is $2 billion greater than the $5 billion that had been reported earlier by the Wall Street Journal, ahead of the deal's formal announcement.
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