Ditech.com chief Michael McCarthy has stepped down from his post at the company, MortgageWire has learned.A spokeswoman for Residential Capital Corp., the parent of ditech.com, confirmed his departure as senior vice president and general manager, but noted that Mr. McCarthy "is exploring other opportunities" within the ResCap/GMAC family of companies. Mr. McCarthy will be replaced by Richard D. Powers, who will start as senior vice president and general manager in August. Ditech.com is an online retail lender that specializes in refinancings and home equity loans. An affiliate of GMAC Mortgage of Horsham, Pa., the Costa Mesa, Calif.-based ditech.com advertises heavily on cable television.
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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.
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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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