DeepGreen Financial, a Cleveland-based home equity lender, has announced the hiring of mortgage industry veteran James L. Gear Jr. as national sales director.Mr. Gear has more than 25 years of industry experience in sales, secondary marketing, technology, and mortgage insurance, the company said, including positions at Amerin Guaranty, Loantrader.com, IMX, Bear Stearns Mortgage Capital, and MGIC. The company also announced the following promotions: Jeff Bell to the new position of chief information officer; Michael Moore to director of business & product development; and Felipe Obando to director of marketing. In addition, David Hadley, DeepGreen's chief technology officer, will take on added responsibilities in the areas of strategic planning, mergers and acquisitions, and special projects. DeepGreen can be found online at http://www.deepgreenfinancial.com.
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Growth in retained and investment portfolios drove gains as the government-sponsored enterprise reported the highest refinancing share seen in four years.
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Higher utilization and aggregate excess payments point to pressure, according to TransUnion. Debt-to-income averages remain below traditional mortgage caps.
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Meet the top loan originators in the 28th edition of National Mortgage News' annual ranking and learn how they approach purchase business.
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Rocket, United Wholesale Mortgage and Pennymac said they will use the new government-sponsored enterprise credit metric as large lenders get on board.
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One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale.
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Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.
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