Industry News

The transaction includes the purchase of certain loan portfolios from Signature Bridge Bank totaling $12.9 billion, and the assumption of $34 billion in deposits by Flagstar.

SVB Financial Group has announced that its strategic alternatives process for SVB Capital and SVB Securities Operations are underway. SVB Securities and SVB Capital's Funds and general partner entities will not be included in the Chapter 11 filing.

GSE names former PricewaterhouseCoopers Partner to its Board of Directors, bringing financial management and reporting, risk management, and business strategy expertise to his new role.

Mark Casale, Essent’s Chairman and CEO, said that Weinstock "brings a deep understanding of our business and the mortgage insurance industry” to the role.

Just days after closing the doors of SVB Financial Group, the FDIC names former Fannie Mae head to lead Silicon Valley Bank, a subsidiary of SVB Financial.

The firm’s former Deputy General Counsel is promoted to new role, bringing more than 20 years of experience in residential real estate law and mortgage banking to the position.

DeHart will oversee all escrow functions, including tax, insurance, flood insurance, and escrow analysis.

Mortgage servicer taps industry exec who helped build and run Wells Fargo’s near $1 trillion servicing portfolio and brings ops expertise to accelerate Sagent’s modernization of servicing software.

Kurt Johnson has been named CFO of the mortgage servicer as Jaime Gow transitions from CFO to Strategic Advisor. In addition, Christine Paxton has been named EVP and Chief Risk and Compliance Officer.

As new Head of Single-Family Acquisitions, Freddie Mac’s latest addition will be responsible for seller engagement, credit, products, and affordable mission goals.