Mortgage industry veteran Ed Abufaris has been named national sales director for correspondent lending at CitiMortgage, St. Louis.CitiMortgage said Mr. Abufaris has nearly three decades of experience in the mortgage business, including 13 with CitiMortgage. He will oversee the sales organization, which has been reorganized into three geographical divisions from four, the company said. Mr. Abufaris was most recently division manager for CitiMortgage's Southeast Division. He began his career with Fidelity Federal Savings and Loan in Florida. He later managed secondary marketing for First Atlanta Mortgage, followed by 10 years as capital markets manager with MGIC.
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The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
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Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.
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A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
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Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
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In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties.
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A United Wholesale Mortgage executive stepped in to defend a claim against the company, as consumers pelt the industry with more spam call complaints.
April 8






