American Home Mortgage, Melville, N.Y., has hired six high-level account executives away from Washington Mutual, Seattle, for its fast-growing correspondent division.A spokesman for American Home said the six were heavily courted by the nation's top mortgage banking firms but went with American Home because of its growth prospects. A few months back, National Mortgage News broke the story that WaMu was closing its traditional correspondent channel. The spokesman said he did not know for certain whether the six were slated to lose their jobs at WaMu but that he assumed as much. The new account executives and their respective regional offices include: Steven Campbell (Columbia, S.C.); Molly Gross (Grosse Pointe, Mich.); Mary Niederhaus (Sacramento, Calif.); Mary O’Connell (Nashville, Tenn.); Ed Robinson (Philadelphia); and J. Gordon Terry (Jacksonville, Fla.). American Home's correspondent division was launched a year ago and racked up $1 billion in production after seven months. The six joined American Home on July 3, bringing their AE total to 16. American Home can be found online at http://www.americanhm.com.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
September 25 -
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
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A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
September 25 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
September 25 -
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
September 25 -
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
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