Fintech Agile Hires Former Wells Fargo Exec As President

Greg Vacura is joining fintech Agile as president, the company announced in a press release. Agile, a tech company operating in the mortgage-backed securities market, hired Vacura to lead the company as it works to increase liquidity and automation in TBAs, MBS pools, and AOTs. Agile eliminates the need for inefficient phone and email processes by bringing lenders and dealers onto the same request-for-quote platform. “The mortgage industry has a long way to go on the path towards improving liquidity and execution through adoption of marketplace solutions,” Vacura said. “I’m excited to leverage my past experience pushing the industry forward in my new role, particularly during this time of challenging market conditions with the opportunity to help so many industry…

Interest Rates Unchanged; Fed Vows To Buy More MBS

The Federal Reserve on Wednesday kept interest rates effectively at 0 percent and vowed to increase holdings in Treasury securities and mortgage-backed securities to support the economy during the coronavirus pandemic. In a statement following its meeting, the Fed said it “is committed to using its full range of tools to support the U.S. economy in this challenging time.” That includes keeping interest rates in the 0 to 0.25 percent range. “To support the flow of credit to households and businesses, over coming months the Federal Reserve will increase its holdings of Treasury securities and agency residential and commercial mortgage-backed securities at least at the current pace to sustain smooth market functioning, thereby fostering effective transmission of monetary policy to…