The Federal Housing Finance Agency this week hired Manoj K. Singh as principal examiner for risk, in charge of Fannie Mae and Freddie Mac.
Singh joins the agency from The Collingwood Group, a Washington-based consulting firm whose ranks include a handful of former GNMA executives.
A “special advisor,” he joined Collingwood in July of this year. But Singh also is steeped in secondary market risk with a resume that includes stints at Freddie Mac and Bear Stearns.
He worked at Freddie from 2006 to July of this year, last serving as senior vice president of pricing and securitization on the single-family side of the business. Before being promoted at the GSE, he was SVP in charge of market risk management. Freddie has been a ward of the government since September 2008.
Prior to joining Freddie, he also held executive level positions with Bear, Lehman Brothers, and Wasserstein Perella Capital Management.
Daily Briefing | Monday, December 5, 2011
Hike in Fannie/Freddie G-Fee May Fund Payroll Tax Holiday
To break a Congressional deadlock and fund the payroll tax break, Sen. Bob Casey, D-Penn., is proposing an increase in the guarantee fees charged by Fannie Mae and Freddie Mac.
PNC Eyeing Parts of MetLife Mortgage?
PNC Financial Services is taking a look at parts of MetLife Mortgage, according to industry advisors familiar with the situation.
Treasury Steps Up Efforts to Push Banks Out of TARP
The Treasury Department is stepping up efforts to unwind its remaining commitments from the 2008 bailout.
GNMA Warned Seven Issuers on MBS Violations
The Government National Mortgage Association warned seven of its MBS issuers during the first nine months of 2011 that they are in violation of agency’s rules, according to an audit by the General Accountability Office.
NCB Originates $41 Million of Cooperative Loans
National Cooperative Bank FSB, Arlington, Va., originated $41 million in residential cooperative loans during the third quarter. This brings its total up to $118 million in new loans for 542 residential cooperative unit owners through Sept. 30.
CRE Exposure Leads to Five Bank Closures
Five banks across the nation failed in November, according to Trepp LLC’s latest report, with commercial real estate a major contributing factor.
National Production Manager for Supreme
Supreme Lending, a Dallas-based mortgage banker, has hired James E. Iley Jr., as the company’s new senior vice president, national production manager.
New Institute to Offer Insights on Distressed Customers’ Mindset
Encore Capital Group of San Diego has established the Consumer Credit Research Institute in an effort to promote financial literacy through a better understanding of distressed customers and the way they make financial decisions.
CFPB ‘Deadlock’ Depends on 2012 Election, Rep. Frank Says
Rep. Barney Frank, the lead Democrat on the House Financial Services Committee, said late last week that the ongoing stalemate over the confirmation of a director at the Consumer Financial Protection Bureau will not be resolved until at least 2012.
CS: MI, “Disorderly” European Woes Among Risks to Watch
Mortgage insurance concerns and the possibility of a “disorderly” European recession are among the market risks that should be watched going forward, Credit Suisse strategists said in a global outlook conference call Monday morning.
Sales Director Departs Allonhill
Mike Hartman, the sales director of Allonhill for the past two years, has left the due diligence firm to “pursue other opportunities,” the company said.
Fitch Says Outlook Change for Defeased CMBS Unlikely
Fitch Ratings said Friday that an outlook change to negative for “defeased” U.S. CMBS looks unlikely despite the use of government debt in defeasance and a recent revision of the sovereign outlook to negative.
D.C. Law Firm Buys Mortgage Banking Practice
The law firm Ballard Spahr announced Monday that it has added a new mortgage banking practice, tapping three partners and one associate from Patton Boggs.