David W. Lindstrom, president and chief executive officer of Franklin Bank, has been elected to a two-year term as chairman of the board of the Federal Home Loan Bank of New York. In addition, Michael M. Horn has been elected to serve the remaining term, through Dec. 31, of the current vice chair. Mr. Lindstrom has been serving as vice chair since 2005. Mr. Horn has been a partner since 1990 in the Newark, N.J., office of the McCarter & English LLP law firm, the FHLBank said. The New York FHLBank provides services to financial institutions in New York, New Jersey, Puerto Rico, and the U.S. Virgin Islands. It can be found on the Web at http://www.fhlbny.com.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
April 24