When rates increase and loan volumes fall, loan officers tend to stick around instead of heading into the unknown at another shop. But there are exceptions.
Ocwen: “The separation and release agreement provides for a release of claims against the company and for Mr. Yanoti to comply with certain non-solicitation and other covenants.”
The great irony: As federally insured banks continued to lose residential lending market share to the Quickens and the Freedom Mortgages of the world, their investment banking units benefitted by arming the competition.
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