Michael Maher has been named executive vice president of ABN Amro Mortgage Group Inc., a loan originator and servicer based in Ann Arbor, Mich.The company said Mr. Maher will assume responsibility for AAMG's quality assurance and "employee engagement" initiatives. He will also continue to manage the company's group center functions. Mr. Maher was most recently group senior vice president for group centers at AAMG. Before joining the company, he was group senior vice president and chief financial officer at Standard Federal Bank, and he specialized in financial services accounting with Deloitte & Touche in Detroit and Miami. AAMG, a subsidiary of the Netherlands-based ABN Amro NV, can be found on the Web at http://www.abnamro.com.
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The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.
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Builder mortgage units saw Q1 profit slides (NVR down 17%) despite an 11% rise in new home loan applications. Overall homebuilder net income dropped, and sales incentives remain high.
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Toll Brothers' purchase of Buffington Homes of Arkansas will extend its national outreach with a strong presence in northwest Arkansas, the company said.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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The company that the global firm is investing in owns a U.S. mortgage correspondent business and another domestic lender that does business with brokers.
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The Consumer Financial Protection Bureau has finalized changes to Regulation B, which implements the Equal Credit Opportunity Act, to eliminate any liability for indirect discrimination by lenders. The change represents a major shift in how the agency polices lending discrimination.
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