It appears that the Federal Housing Finance Agency has slowed its search for a chief executive and chairman to manage the fledgling common securitization platform, which is slated to be headquartered in Bethesda, MD. One former candidate for the CEO position told Inside The GSEs: “It’s pretty much turned into the mess I suspected it would a year ago.” Discussing the chairman position, he added: “They still haven’t come to terms on compensation for the person they want.”
Graham Williams, CEO of Mortgage Resolution Partners, a firm that has achieved notoriety in the mortgage industry for trying to use eminent domain to seize underwater loans, is moving on. But that doesn’t mean the concept of municipalities using the legal strategy is going away. “I’m transitioning out of the CEO job,” Williams told Inside Mortgage Finance. “The company will continue on.” Asked whether a CEO search is underway, he said he didn’t know. As Inside Mortgage Finance went to press this week, there were...
“This situation consisted of sexually charged behavior and comments from the supervisory staff and participating mortgage bankers, which resulted in a sexist and uncivil atmosphere,” the EEOC said of the JPM workplace.
Federal regulators have, for all intents and purposes, completed their work on the qualified residential mortgage standard. This means the final rule’s release could be imminent.
The starting salary for the CEO is said to be about $450,000 plus benefits, which is roughly double what the new director of the Federal Housing Finance Agency, Mel Watt, earns.
At deadline we got wind of a former Wall Street investment banker who is setting up a fund to help independent mortgage firms (nonbanks) raise capital.
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