Citizens Financial Group has named a former marketing and business development executive from SunTrust Mortgage Inc. as president of its Home Lending Solutions business.
Cheryl Nolda previously led marketing and business development at SunTrust Mortgage's mortgage and consumer lending businesses.
The company said it is one-fourth of its way to its goal to hire 400 loan officers by 2013 and has been seeing refinance-driven gains in volume.
SecurityNational Mortgage Co. alleges that the larger competitor facilitated the mass resignation of its staff from Glendale and Scottsdale offices.
The bank's marketing, which hid the nature of its solicitations, led some borrowers to apply for cash-out refis that increased monthly payments, the OCC said.
While last year was the best for origination income since 2022, annual net servicing revenue for mortgage bankers was approximately 70% below 2024's level.
Three-quarters of buyers assume AI has already been embedded in the housing ecosystem, but 55% would prefer to work with a human to secure a mortgage.
Federal Reserve Gov. Stephen Miran Thursday said that the Iran war and tariffs will not have long-term impacts on inflation, but did say he is reconsidering his rate cut outlook for the year.
This week's Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power.
