A number of executives who formerly worked for E*Trade's correspondent unit have joined a new correspondent division at American Home Mortgage Investment Corp.Rick Pishalski, AHMIC's new executive vice president and correspondent lending director, previously was correspondent channel senior executive and business manager at E*Trade Financial Mortgage Services; Jim Chatman, AHMIC's new vice president and Southeast account executive, previously was VP, Southeast Lending at E*Trade; Dan Ferris, AHMIC's new VP and Pacific Northwest AE, previously was VP, Southeast Lending, at E*Trade; and Brideen Gallagher, AHMIC's new VP and Northeast AE, previously was VP, Northeast lending at E*Trade. E*Trade said earlier this year that it planned to phase out its correspondent division. AHMIC can be found online at http://www.americanhm.com.
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Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
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The addition of HELOCs at SoFi comes alongside the launch of a new advisory group, as the company heightens its focus on real estate lending.
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The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.
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Builder mortgage units saw Q1 profit slides (NVR down 17%) despite an 11% rise in new home loan applications. Overall homebuilder net income dropped, and sales incentives remain high.
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Toll Brothers' purchase of Buffington Homes of Arkansas will extend its national outreach with a strong presence in northwest Arkansas, the company said.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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