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Mark J Riedy

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BUSINESS
June 16, 1987 | JOHN M. BRODER, Times Staff Writer
Frank V. Cahouet, the peripatetic California banker who helped turn Crocker National Bank around before it was sold to Wells Fargo last year, will become the new chief executive of Pittsburgh's Mellon Bank, the bank announced Monday. Mellon also said Monday that it was setting aside $415 million for additional losses on Latin American loans and, as a result, expects to lose $500 million in the second quarter and a substantial amount for the year. Mellon is following many major U.S.
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BUSINESS
June 16, 1987 | JOHN M. BRODER, Times Staff Writer
Frank V. Cahouet, the peripatetic California banker who helped turn Crocker National Bank around before it was sold to Wells Fargo last year, will become the new chief executive of Pittsburgh's Mellon Bank, the bank announced Monday. Mellon also said Monday that it was setting aside $415 million for additional losses on Latin American loans and, as a result, expects to lose $500 million in the second quarter and a substantial amount for the year. Mellon is following many major U.S.
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REAL ESTATE
June 28, 1987
Mark J. Riedy, former president of the Federal National Mortgage Assn., has been named president and chief operating officer of Alexandria, Va.-based J. E. Robert Cos. Riedy was an executive at the Mortgage Bankers Assn. of America for eight years before he joined Fannie Mae in January, 1985. J. E. Robert helps investors and regulators to seek profits from financially distressed real estate.
BUSINESS
July 16, 1986
The Federal National Mortgage Assn. (Fannie Mae) announced that Mark J. Riedy has resigned as president and chief operating officer to explore other career opportunities. Fannie Mae, a congressionally chartered, shareholder-owned corporation, is the nation's largest single supplier of home mortgage funds. Before joining Fannie Mae in January, 1985, Riedy was executive vice president of the Mortgage Bankers Assn. of America. Fannie Mae Chairman and Chief Executive David O.
REAL ESTATE
January 27, 1985
Warren Lasko, executive vice president of the Government National Mortgage Assn. has been named executive vice president of the Mortgage Bankers Assn. of America and will assume his new position on Feb. 9. He succeed Dr. Mark J. Riedy who became president of the Federal National Mortgage Assn. this month.
NEWS
March 8, 1985 | From Associated Press
America's bankers are running out of money to lend home buyers and homes could become less affordable as a result, the president of the nation's largest single source of home mortgage money said today. Mark J. Riedy, president of the Federal National Mortgage Assn., said lenders must raise more money or ask for bigger down payments from home buyers "many of whom--especially first-timers--may not be in a position to meet those demands."
BUSINESS
June 27, 1985 | Associated Press
Mortgage rates, now at about 12%, will continue to decline, Housing and Urban Development Secretary Samuel R. Pierce Jr. said Wednesday. Speaking at a ceremony marking the placement of the 100,000th Government National Mortgage Assn. residential mortgage security pool, Pierce said: "I think they'll drop a bit more." He declined to say how much more. GNMA, which is a part of HUD, combines mortgages and sells them to investors to make more money available for home loans.
BUSINESS
March 9, 1985 | KATHLEEN DAY, Times Staff Writer
The president of the nation's largest single source of home loans warned Friday that housing will be less affordable for millions of Americans in the next few years because a rise in bad debts has forced mortgage lenders to demand bigger down payments and to tighten credit. Mark J. Riedy, president of the Federal National Mortgage Assn., known as Fannie Mae, said the measures may force many home buyers, especially first timers, "to borrow from parents or friends" or be forced out of the market.
BUSINESS
September 9, 1986 | JOHN M. BRODER, Times Staff Writer
Frank V. Cahouet, the former Crocker National chairman who lost his job when Wells Fargo bought the San Francisco banking company earlier this year, has been nominated to be president and chief operating officer of the Federal National Mortgage Assn. (Fannie Mae). Cahouet has a reputation in California banking circles as a tough, cost-conscious executive who was brought in by Crocker in 1984 to help stem a flood of red ink.
NEWS
May 12, 1985 | TOM FURLONG, Times Staff Writer
The fixed-rate mortgage loan, out of favor for several years with both buyers and lenders, is undergoing a dramatic resurgence in popularity nationwide as interest rates have fallen to affordable levels, lending figures show. Long-term home loans with fixed rates now account for approximately half the nation's mortgages, up from about a third last summer.
NEWS
August 11, 1989 | ROBERT A. ROSENBLATT and JAMES BATES, Times Staff Writers
Its assets include a racehorse with syphilis, the world's first vertical country club and the shell of a luxury condominium on a rocky ledge in Puerto Rico. In fact, the Resolution Trust Corp., which conducted its first business on Thursday, will be the largest financial institution in the world.
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