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LOS ANGELES - Countrywide Financial Corp., the nation's largest mortgage lender, said Monday it has eliminated about 500 jobs as it tries to ride out problems from a credit crunch that has rocked the home loan industry. The company said the cuts came in the subprime lending unit of its Wholesale Lending Division and its Full Spectrum Lending unit, which handles mortgages given to customers with minor credit problems or who can't provide full income documentation required for traditional prime loans.
Brad Livers' venture into the haunted house business wasn't that scary, even though there was no business plan and those behind the enterprise had only about two months to turn an idea into a going concern. Perhaps that's because, until recently, Livers had been working in an even scarier industry--mortgage banking. Now in between jobs, Livers heads the marketing campaign for the Theatre of the Dead haunted house, located at 1107 N. Second St. in St. Charles.
MIAMISBURG -- National City Corp. will transfer an undisclosed number of jobs from its Dayton-area mortgage operations to India. "We can confirm that a decision has been made to outsource certain functions in Miamisburg," company spokesman Chris Kemper said Wednesday in a prepared statement. "While it is possible that some job impacts may occur, National City is absolutely dedicated to doing all we can to minimize employee impacts. Kemper also said National City plans to offer the affected employees other jobs within the company.
The OCC, Board, FDIC, and SEC (individually, an ``Agency,'' and collectively, ``the Agencies'') are requesting comment on a proposed rule that would implement Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'') which contains certain prohibitions and restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund.
... of or issued by the Government National Mortgage Association, the Federal National Mortgage Associa... (such as providing housing, services, or jobs); and (iii) an investment that is a qualified reha...
CHARLOTTE, N.C. - In addition to scaling back its investment banking operations, Bank of America Corp. is exiting the wholesale mortgage business and eliminating about 700 jobs, according to bank officials Thursday. The move will eliminate the jobs in the bank's consumer real estate unit. The bank shared details of the decision with The Associated Press before its public announcement scheduled for today.
... Aids Electronic Mortgage Market, MORTGAGE BANKING, Jan. 1997, at 42. . (25.) See Carson Mullen, MERS... Submits Plan to Eliminate Nearly 1,000 City Jobs, STAR-LEDGER (Newark, N.J.), Aug. 26, 2010, http:/...
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... institutions to build homes and provide jobs in communities throughout the South Federal Home L...
Capital One Financial Corp. on Monday said it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle in the nation's housing and mortgage markets. Capital One said it will shut down GreenPoint Mortgage and eliminate most of the jobs by the end of year. The McLean, Va.- based company will close 31 GreenPoint locations in 19 states and "cease residential mortgage origination" effective immediately but said it will honor commitments to customers with locked rates who have loans already in the pipeline.
Capital One Financial Corp. said Monday it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle through a credit crunch in the nation's housing market. Capital One said it will shut down GreenPoint Mortgage and eliminate most of the jobs by the end of year. The McLean, Va.- based company will close 31 GreenPoint locations in 19 states and "cease residential mortgage origination" effective immediately.
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