Todd Luhtanen, vice president and chief technology officer at origination vendor Dynatek, Livonia, Mich., has been promoted to president and chief technology officer.In his new role, Todd Luhtanen will have responsibility for overseeing all sales, marketing, and support functions, as well as the company's general business operations, Dynatek said. Jack Luhtanen will continue in his role as Dynatek's chief executive officer and maintain his daily involvement in company operations, directing all aspects of its policies, objectives, and initiatives. Jack Luhtanen and Todd Luhtanen, together with Linda Luhtanen, established Dynatek in 1986. The company can be found on the Web at http://www.dynatek.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24