Union Mortgage Group Inc., Bowling Green, Va., has hired Herbert W. Engler as president and chief executive. "We are pleased to add Herb to our team as we navigate through the difficult times the mortgage industry is facing. Herb has significant industry and leadership experience and we look forward to working with him to address the challenging issues and opportunities ahead," said D. Anthony Peay, executive vice president and chief financial officer of parent company Union Bankshares Corp. Mr. Engler most recently was president of Prosperity Mortgage Co., Fairfax, Va. Prior to joining Prosperity, he worked for Waterfield Financial Corp. in the Maryland/ Washington D.C. area.
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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.
September 25 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
September 25 -
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
September 25 -
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.
September 25 -
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
September 25 -
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
September 24









