Troy Gotschall has been named president and chief executive officer of Encore Credit Corp., a taxable subsidiary of ECC Capital Corp., an Irvine, Calif.-based real estate investment trust that originates and invests in residential mortgage loans.Mr. Gotschall was most recently president of Long Beach Mortgage Co., a subsidiary of Washington Mutual that specializes in nonconforming loans. He joined Long Beach Mortgage as a branch manager in 1990. Encore Credit can be found on the Web at http://www.encorecredit.com.
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The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
August 13 -
While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
August 13 -
The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
August 13 -
More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
August 13 -
For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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