Craig S. Davis, a former president of Washington Mutual's home loans and insurance services group, has joined the board of directors of Ellie Mae.Mr. Davis, who has more than 25 years of senior management experience in the mortgage and financial services industry, served as WaMu's mortgage chief for seven years. He retired suddenly from the Seattle-based thrift last fall in the wake of a disclosure that it would book a loss in the third quarter related to mortgage loan sales because of problems in tracking loan commitments. Sig Anderman, Ellie Mae's chairman and chief executive officer, praised Mr. Davis's leadership at WaMu and predicted that his perspective "will be invaluable as we enter our critical next phase in leveraging state-of-the-art technology for mortgage brokers, lenders, and service providers." Ellie Mae can be found online at http://www.elliemae.com.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18