Fairway Independent Mortgage Co., a mortgage broker/banker with over 100 branches nationwide, has announced a transition from operating as an FHA nonsupervised loan correspondent to a Department of Housing and Urban Development direct endorsement lender.Fairway said the transition enables it to originate and underwrite its own loans, and to increase its Federal Housing Administration originations and get more control of the underwriting process. Fairway had been operating as an FHA nonsupervised loan correspondent, and has been originating FHA loans since its inception in 1996, but until now did not have the power to underwrite these loans. Fairway said it has had a strong quality-control plan in place for the last several years. The company can be found on the Web at http://www.fairwayindependentmc.com.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
5h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
8h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
10h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
10h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
11h ago -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
11h ago