Friday, July 21, 2017

LendingTree's Mischner promoted to chief of sales and head of mortgage

“Sam's strong background in the mortgage industry and proven success in scaling LendingTree's sales organization is an instrumental piece to LendingTree's strategic growth. We're proud to have Sam on our team and look forward to what his leadership in this role will bring to LendingTree, its customers and partners,” said Neil Salvage, president of LendingTree.

Wall Street veteran Anthony Scaramucci assumes leading White House role

In addition to chronicling Spicer’s “abrupt and angry departure,” news stories Friday morning scrambled to provide information on Scaramucci, who is well known in political and financial circles, but not a household name. Depending on where you get your news, he was alternatively described as a "wealthy financier" or a “loudmouth Wall Street creep.” Other descriptors include “smooth-talking Long Island native” and one of Trump’s “most aggressive television surrogates.”

Mini-CFPB? Pennsylvania attorney general launches consumer financial protection unit

With the Consumer Financial Protection Bureau now entering its seventh year squarely in the crosshairs of the Republican Party, one state is taking matters into its own hands to ensure that its residents are protected from the scrupulous practices of financial services companies, no matter what happens to the CFPB.

Wells Fargo ordered to pay $575K, rehire fake account whistleblower

Just when it seemed like the ripples of Wells Fargo’s fake account scandal seemed to be calming down slightly, the Department of Labor is throwing another pebble into the pond. The Labor Department announced Friday that it ordered Wells Fargo to pay $577,500 in back pay, damages, and legal fees to a whistleblower who was fired by the bank after she reported that at least three of the “private bankers” working for her were opening accounts in customers’ names without their consent.

SFR investors move into suburbia and not everyone is pleased

A new breed of homeowners arrived in this middle-class suburb of Nashville and in many other communities around the country: big investment firms in the business of offering single-family homes for rent. Their appearance has shaken up sales and rental markets and, in some neighborhoods, sparked rent increases.

Fannie Mae DTI increase could add 95,000 borrowers each year

Earlier this year, Fannie Mae announced it was raising its debt-to-income ratio from 45% to 50%, but how many consumers will see these effects? A new study from the Urban Institute explains this ease in credit standards could allow for just under 100,000 new originations each year.

TRK Connection promotes Randy Abbey to chief technology officer

“As CTO, I look forward to continuing to refine our current solution set, while also designing the TRK Connection roadmap and leading TRK’s long-term technology initiatives to deliver additional innovation via technology to the mortgage industry,” Abbey said.