Alan P. Hirmes has retired as chief operating officer of CharterMac, New York, and as a member of the company's board.Mr. Hirmes also retired as a member of the board of trustees of American Mortgage Acceptance Corp., a mortgage real estate investment trust advised by an affiliate of CharterMac. Mr. Hirmes, a founder of CharterMac's predecessor company, Related Capital Co., said he plans to devote his time to his family and "outside community interests." CharterMac can be found on the Web at http://www.chartermac.com.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
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In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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