Bruce Legan has been named senior managing director of consulting services at Clayton Holdings, a Shelton, Conn.-based provider of information-based analytics, consulting, and outsourced services for lenders, servicers, and other financial firms.For the past four years, Mr. Legan led Ernst & Young's residential mortgage advisory practice as senior manager of its Structured Finance Advisory Services Group. Before joining E&Y, he was a managing director at MBIA Insurance Corp. and he worked for GMAC Mortgage, setting up its third-party residential mortgage special servicing division, Clayton said. Mr. Legan also worked at GMAC/Residential Funding Corp., where he managed the sales and purchases of mortgage loans in the secondary market. Clayton can be found online at http://www.clayton.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.
August 12 -
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.
August 12 -
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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