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Downey CEO Resigns Amid a Hedge Loss.
Downey Financial Corp. president and chief executive Marangal Domingo has resigned from the California-based thrift after just seven months on the job.
The resignation of Mr. Domingo, who joined Downey from Washington Mutual, Seattle, comes about a month after the thrift reported a $21.9 million hedging loss on residential servicing rights.
Sources say it is unclear whether the thrift's board approved the hedge, which was ...
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