Broward Bank of Commerce, Fort Lauderdale, said it has launched a new residential lending division, giving its customers access to the purchase and refinancing markets. The Florida bank, which has been in business for less than two years, named Regina Blanz senior vice president in charge of the effort. During her career she has worked at Minto Communities and Pointe Federal Savings Bank. Broward Bank, which boasts no delinquent loans, has $77 million in assets. The launch of the new residential unit "reflects the bank's mission to be responsive to our customers' needs and fits our vision for strategic growth," said Broward president Keith Costello.
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SecurityNational Mortgage Co. alleges that the larger competitor facilitated the mass resignation of its staff from Glendale and Scottsdale offices.
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The bank's marketing, which hid the nature of its solicitations, led some borrowers to apply for cash-out refis that increased monthly payments, the OCC said.
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While last year was the best for origination income since 2022, annual net servicing revenue for mortgage bankers was approximately 70% below 2024's level.
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Three-quarters of buyers assume AI has already been embedded in the housing ecosystem, but 55% would prefer to work with a human to secure a mortgage.
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Federal Reserve Gov. Stephen Miran Thursday said that the Iran war and tariffs will not have long-term impacts on inflation, but did say he is reconsidering his rate cut outlook for the year.
April 16 -
This week's Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power.
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