According to a report from CNN Money, the bank will be giving a raise to 17% of its 66 employees this week to raise their salaries to a level that’s at least double the minimum wage for the state of Florida.
Despite new regulation meant to ensure banks have enough easy-to-sell assets to survive a crisis, banks are nervous over whether or not their $1.1 trillion of aggregated mortgage debt qualifies as this type of asset.
C1 Financial is set to go public with the launch of its initial public offering on Thursday. The firm offers mortgage lending to clients, among other things. It may also have the first openly gay CEO of a publicly traded company in the Fortune 1000.
Brickman takes to helm of one of the largest mortgage companies in the U.S. today, and while times at the government-sponsored enterprise are filled with uncertainty, Brickman sees nothing but excitement for the future of Freddie Mac.
When buying a home, many Americans consider a 20% down payment to be the norm, the ideal amount of money to put down to get a conventional mortgage with no private mortgage insurance and to keep monthly payments reasonably affordable.