Items Tagged with 'president and COO'

ARTICLES

  • SIFMA Brings On Former Congressman

    The Securities Industry and Financial Markets Association (SIFMA) on Tuesday brought on former Congressman and investment banker Kenneth Bentsen Jr. as executive vice president of public policy and advocacy. Bentsen will head up SIFMA's Washington, DC office, bringing years of experience in the market and most recently his three years of serving as president and COO at the Equipment Leasing and Finance Association. Bentsen previously served as a managing director at Public Strategies and also as a member of the US House of Representatives from Texas.
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  • Subprime Loan Buyer Gets Dubai-led Investment

    In the increasingly crowded field of investors looking to buy sub and non-performing mortgage notes, one small shop has added foreign dollars to the mix: White Plains, New York-based Diversified Mortgage Workout Corporation said Friday it had received investment commitments of $20 million from a private investment group based in Dubai. The company said in a press statement that it would look to purchase subprime whole loans with the funds. "We are very excited about this investment, as it is only the beginning," said Victoria Forlenza, president and COO at the company.
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  • Price Declines Spreading to California's Luxury Home Market

    Luxury home prices in Los Angeles, San Diego and San Francisco all posted modest declines in the first quarter of 2008, as banks pulled back on lending even to high net-worth households, proving that no segment of the housing market can escape the pricing corrections taking place throughout much of the state.
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  • Heavy Hitters Bankroll Former Countrywide President's Distressed Mortgage Play

    The latest big name to get back into subprime is none other than Stanford Kurland, Countrywide's former president and COO -- Kurland leads a group of well-heeled industry execs headlining a new distressed mortgage purchaser/servicer, named the Private National Mortgage Acceptance Company, LLC. That's PennyMac for short, in an interesting play on GSE nomenclature.
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  • Countrywide's Sambol Tapped to Lead Combined BofA/Countrywide Mortgage Business

    Bank of America and Countrywide Financial said Thursday that Countrywide president and COO David Sambol will lead the combined consumer mortgage business once BofA's planned purchase of Countrywide is complete. Sambol will continue in his current role, reporting to Countrywide chairman and CEO Angelo Mozilo until completion of the transaction, which is targeted for the third quarter. Mozilo is largely expected to step down after the merger.
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  • Citigroup to Streamline Mortgage Ops; Will Consolidate Primary, Secondary Market Activities

    An internal memo leaked to various press outlets on Tuesday afternoon finds that Citigroup, battered and bruised from the mortgage mess, will consolidate its mortgage operations under one roof. The streamlining effort will bring origination, servicing and capital markets operations together within one business line. The memo, which Reuters reports was confirmed by a Citigroup spokesperson, said that Bill Beckmann, president and COO of CitiMortgage Inc., will oversee the new business.
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  • Next? Freddie Still Looking for CEO

    I have to admit I didn't know that Freddie was looking for another CEO to replace current chief Richard F. Syron, but today the company reported that at least one member of the company's Board doesn't want the job. Eugene McQuade, currently president and COO -- the sort of position you'd expect to take an available CEO slot -- decided he'd rather leave the company than take a turn leading it. In a press release, McQuade said his decision was motivated by family concerns:
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