David Drow has been named to head a new-home purchase financing initiative planned by E-Loan, an online consumer-direct lender based in Pleasanton, Calif.Before joining E-Loan, Mr. Drow spent seven years with GMAC Mortgage, where he was responsible for expanding their new-home purchase builder mortgage business, E-Loan said. He was previously production manager for North American Mortgage Co. E-Loan can be found on the Web at http://www.eloan.com.
House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
