CoreStar Financial Group, a Timonium, Md.-based mortgage banking company focused on the subprime market, has named Kurt Kabula to lead the expansion of its national wholesale division in the Southeast.CoreStar said its rapid growth in Florida, Georgia, Alabama, and the Carolinas is expected to result in a 200% increase in its geographically dispersed employee base by the end of the year. Because Mr. Kabula's immediate focus will be on developing sales in Florida, he will be based in Ft. Lauderdale, but will spend an equal amount of time in Timonium, CoreStar said. The company can be found on the Web at http://www.corestar.com.
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A federal lawsuit against the now defunct mortgage company has been dropped but John DiIorio wants to also demonstrate officials acted in bad faith.
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The lawsuit accuses the lender of violating 17 sections of the California labor code, including failure to pay all minimum, regular and overtime wages.
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Consumers have filed at least 30 such complaints against industry players this year for allegedly violating the Telephone Consumer Protection Act.
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In line with broader trends, the GSEs have been putting new limitations on forbearance and putting more of an emphasis on mods.
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AnnieMac Home Mortgage will pay 171,074 customers impacted in a 2024 hack, making it the fourth lender in recent weeks to end a class action suit over a breach.
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Fannie Mae and Freddie Mac are under directives to make mortgage-backed securities purchases that can exert downward pressure on rates or limit increases.
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