Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. The stress is leading to the bank to seek the sale of some of its assets to improve its capital position, executives […]
U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic’s Home Price Index. Home prices declined by 0.1% compared to November 2023. Price appreciation slowed greatly over the past year to 3.9%, down from 14.5% in 2022, but is in line with […]
The Fannie Mae February Selling Guide has a series of updates, including the expansion of value acceptance and property data appraisal waivers to condominiums, cash-out refinance allowances for manufactured homes, and updates to credit references and certain definitions. Following up on a March 2023 update that first announced value acceptance and property data as a […]
HomeEquity Bank, Canada’s leading reverse mortgage lender and a federally regulated bank, recently announced the hiring of former Canadian Broadcasting Corporation (CBC) news anchor Peter
University Bank’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Jake
Enterprise Community Partners announced on Wednesday the appointment of Kari Downes to the position of president at its housing credit investments business, effective April 1.
Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of
Guild Mortgage has filed a petition in a district court in Washington to confirm a $10.7 million award resulted from an arbitration dispute against three former
Like the corporate brokerage defendants in the Sitzer/Burnett commission lawsuit, the National Association of Realtors also filed post-trial motions. The motions were filed on Monday
TransUnion released a new portfolio management solution designed to help lenders assess the riskiness of a portfolio from a property value perspective, the company announced on Wednesday. TruVision Consumer Property Insights’s mission is to help protect both lenders and borrowers from the potential risks associated with property value fluctuations, the
HomeEquity Bank, Canada’s leading reverse mortgage lender and a federally regulated bank, recently announced the hiring of former Canadian Broadcasting Corporation (CBC) news anchor Peter Mansbridge to serve as its strategic communications consultant. Mansbridge served as the lead anchor for CBC News’ “The National,” its flagship broadcast, from 1988 to
University Bank’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. Both Droge and Olmos come to
Enterprise Community Partners announced on Wednesday the appointment of Kari Downes to the position of president at its housing credit investments business, effective April 1. Downes, who currently serves as Enterprise Housing Credit Investments EVP, will succeed current president Scott Hoekman who has spent the past 30 years at Enterprise.
Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of elevated interest rates. In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its
Guild Mortgage has filed a petition in a district court in Washington to confirm a $10.7 million award resulted from an arbitration dispute against three former employees accused of poaching when they transitioned to rival CrossCountry Mortgage. The case began in August 2021 when Guild filed a demand for arbitration claiming Christopher