The Florida State Legislature has no mortgage brokers as members, but five members of the Florida Association of Mortgage Brokers hope to change that with their candidacies. Four of the five candidates spoke at the group's annual convention in Kissimmee, Fla. Nancy Detert, who had been term-limited out of the state House of Representatives and ran second in a Republican primary for an open seat in Congress, is seeking election to the state Senate. She proposed using state affordable housing trust fund money as a soft second mortgage to help "work force people" qualify for a mortgage. The other four broker candidates are seeking seats in the state House, including D. Ritch Workman, the current FAMB president. Mr. Workman said he is running as a small businessman who is fed up with intrusions into business by federal and state legislators and regulators. The other candidates are Debbie Mayfield, Rafael Perez, and Terry Lynn Sanchez.
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A 10-state coalition is asking a federal court to put a halt to the OCC's rules which pre-empt laws on banks paying interest on mortgage escrow deposits.
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Southwest leaders cited Varun Krishna's technology and financial leadership as key factors behind his new appointment to its board of directors.
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A record percentage of homeowners renewing their insurance policy saw their fee decrease, up from 7.4% last year, according to Matic's mid-year trends report.
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The new Stratmor study sizes up a part of the business that has become an acquisition target and examines what players who use third parties to service want.
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The Mortgage Bankers Association says the three-day post-close period is redundant, but consumer groups called it vital for borrowers and required by law.
August 11 -
Homeowners won't trade in their cheap mortgages so lenders keep finding other ways to reach that equity. Bond buyers keep showing up.
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