The Trump White House was slated to nominate mortgage banker David Kittle to head the agency but back in November he grew tired of waiting and withdrew his name from consideration.
According to figures compiled by Inside Mortgage Finance, BofA ranked sixth among first lien lenders in the third quarter, but U.S. Bank isn’t too far behind in the number seven spot.
Galante is a former FHA commissioner who presently serves as faculty director of the Terner Center for Housing Innovation at the University of California Berkeley. She also sits on the board of Ocwen Financial.
The agency – which still doesn’t have a permanent president – issued $443.2 billion of MBS backed by forward single-family mortgages in 2017, a 10.8 percent decline from the previous year.
Thanks to the new bill signed by President Trump, Wells enjoyed a $3.35 billion after tax benefit. However, the company also recorded a $3.25 billion pre-tax expense tied to “litigation accruals for a variety of matters, including mortgage-related regulatory investigations..."