Scott Coburn has been promoted to vice president and division manager of CreditFlex Funding, the nonprime lending division of ComUnity Lending, a mortgage lender based in Morgan Hill, Calif.Mr. Coburn has nearly 30 years of experience in the mortgage industry, and was most recently vice president and national sales manager for CreditFlex, the company said. His credentials include management roles with Fremont Bank, World Savings, and Freddie Mac, among others. CreditFlex also announced three other personnel changes and said it plans to double the number of its offices around the country this year and begin operations in several new states. The other personnel changes were as follows: Betty Milledge was named vice president of wholesale operations; Suzanne Martindale was named nonprime underwriting manager; and Lynn Terrell was named sales coordinator. CreditFlex can be found online at http://www.creditflexfunding.com.
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The changes put out by Fannie Mae and Freddie Mac make it clear the Nov. 2 date applies to valuation submissions to the UDCP, not when the loan is delivered.
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The changes include clearer and revamped questions and updated requirements for criminal, regulatory and financial disclosures, the CSBS said.
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The letter suggests Mortgage Connect review and end the use of any noncompete or other agreements that aren't necessary and to notify workers of updates.
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The Federal Reserve's April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.
May 8 -
First American claims Liberty National's owner changed the company's name immediately after a judge held her firm liable for an erroneous wire transfer.
May 8 -
Lender and servicer Loandepot, reeling from a larger loss in the first quarter, could use the potential funds to cover daily operations or repay debt.
May 8






