There will be a trio from the Florida Association of Mortgage Brokers sitting in that state's legislature when the new term begins in 2009. Nancy Detert, who previously served in the House and ran a strong second in a Republican primary for a seat in Congress two years ago, has been elected to the state Senate by a margin of 58% to 42%, according to results provided by the state of Florida. Also, FAMB president D. Ritch Workman was elected to a seat in the state House in the 30th District by a margin of 54% to 46%, while Debbie Mayfield won the contest in the 80th District at 65% to 35%. Both are Republicans. Originally, five members of the group said they were seeking political office at FAMB's annual convention in Orlando in August. One, Rafael Perez, was defeated in a Republican primary for the 111th District seat in the state House of Representatives. A second, Terry Lynn Sanchez, another Republican, withdrew from the race for the 51st District seat in the House.
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New York Life's investment arm is buying a majority stake in Verus' parent, as higher rates draw insurers to non-QM. Lenders should expect deeper-pocketed buyers and competition.
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The agreement expands the top-5 bank servicer's relationship with the technology company, claiming it brings its full portfolio to the MSP platform.
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The typical mortgage company is well behind the average fintech, insurance company and bank in terms of AI development and maturity, according to a new survey.
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Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.
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DRB Group is partnering with Acrisure Mortgage and Alta Home Lending to start two mortgage joint ventures set to open in January 2027, the company announced.
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Servicers may need to use some of their less common risk management tactics rather than solely relying on borrowers holding significant equity, Andy Walden said.
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