Carly Fulmer has been named director of operations at 1st Metropolitan Mortgage, Charlotte, N.C., a national mortgage broker and a division of Empire Equity Group Inc.1st Metropolitan said Ms. Fulmer will continue to manage and develop its branch support and quality control departments and develop the infrastructure and operations of the company. Before joining 1st Metropolitan, Ms. Fulmer was a loan processor at 21st Century Mortgage, which specializes in mortgages for mobile and modular homes. She joined Empire in 2000 and later became head of quality control. In 2003, she developed the branch support division, which is a customer service center for 1st Metropolitan's 250 nationwide branches, the company said. 1st Metropolitan can be found online at http://www.1stmetro.com.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17