Thomas Murphy has been named executive vice president and chief information officer of Arbor Commercial Mortgage LLC, Uniondale, N.Y.Arbor said Mr. Murphy, who has more than 25 years of experience in the information technology field, was most recently CIO at Titleserv Inc., an electronic real estate title and settlement services company. He has also held positions at Bank America Mortgage, Lending Solutions Inc., and First Boston Capital Group, among other companies. Mr. Murphy also held the CIO position at Arbor earlier in his career.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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