Country Club Mortgage, a respected financial institution based in California, is regrettably preparing to part ways with more than 100 of its staff members due to the shuttering of facilities. This major employment reduction includes top-ranking professionals, such as the company’s President and Chief Executive Officer.
LoanDepot is still conducting a thorough investigation into a cyberattack that happened at the beginning of January. They have successfully managed to get some systems back online, although these are currently operating with restricted functionalities.
The Department of Justice asserts that Patriot Bank intentionally bypassed the provision of mortgage facilities to predominantly Hispanic and Black communities in Tennessee. However, Patriot refutes any claims of engaging in redlining activities.
The count of foreclosed properties saw a consistent upward trend throughout 2023, marking a year-on-year rise in comparison to 2022. As we welcome the year 2024, it’s a matter of speculation whether this trend will persist. It’s worth pondering on how to interpret these figures.
Chris Moschner, the CMO of FOA, has acknowledged an issue in linking older clients with reverse mortgages, and is aspiring to address this marketing challenge.
A decrease in the rate environment is expected to increase the volume of refinancing, subsequently stimulating the currently stagnant existing home sales market.
Ted Tozer, with a tenure as the president of Ginnie Mae between 2009 and 2017, expresses enthusiasm about the enterprise looking into the development of a brand new HMBS product.
This week signaled positive news for prospective homebuyers, as mortgage rates experienced a drop to 6.6%, hitting their most affordable point since May 2023. This development provides a potential opportunity for those who have been patiently biding their time to enter the housing market.
Fraudsters are becoming increasingly audacious in their efforts to prey upon elderly Americans, asserts the Bureau. These cheaters falsely identify themselves as affiliates of the CFPB or other government bodies in an attempt to deceive the victim.
UWM has a goal to bridge homebuyers and local mortgage brokers, featuring a variety of loan alternatives on its revamped website, Mortgage Matchup.