Jim Park, a former executive at Freddie Mac, has been named chief operating officer of the Asian Real Estate Association of America, San Diego.Mr. Park, a partner at Prado Mortgage, served as the vice president of industry relations and housing outreach at Freddie Mac before joining AREAA. At Freddie Mac, he worked with key housing finance industry trades, capital markets organizations, and community and housing-related organizations. Mr. Park previously held a senior political position at the Department of Housing and Urban Development, where he oversaw HUD's efforts to overhaul single-family and multifamily programs, AREAA said.
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While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
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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%.
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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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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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The fintech posted its strongest quarter since going public last year and reported major consumer loan marketplace volume approaching $4.3 billion.
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Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.
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