Former Guardian Mortgage Services executive Mary Kladde has gone out on her own to form Titan Lenders Corp., a closing, post-closing, and mortgage fulfillment services provider based in Denver.Titan services will act as a variable-cost alternative for mortgage bankers, brokers, and investors to increase their loan-closing capacity while reducing risk, errors, and overhead costs, the company said. Titan offers an established service model, extensive industry experience, and customized solutions automated by Cerberyx, a contemporary Web-based technology platform designed specifically for its processes, according to the company. Built upon the eSys Technologies platform for managing cost and increasing productivity for next-generation lenders, Titan's Cerberyx application is a Web-based information management tool providing a window into a lender's entire pipeline from application through sale of the loan.
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Median purchase loan payments hit $2,198 in May, up 2.1% from April, as rising rates and home prices threaten to dampen origination volume, MBA reports.
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Experts aren't forecasting immediate relief and instead are citing silver linings in rate certainty and greater mortgage demand as compared to the same time last year.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
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Almost 75% of brokers reported growing non-QM volume in their business over the last three years, and just 3.7% said volume decreased, according to AD Mortgage.
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The Bureau of Economic Analysis' personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.
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Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
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