Jeffrey Johnson has resigned as president and chief executive officer of Franklin Credit Management Corp., a New York-based finance company specializing in residential mortgage loans, according to Franklin Credit.Mr. Johnson, who also resigned from the company's board of directors, left to pursue other business interests, the company reported. Thomas Axon, the chairman and founder of the company, has been appointed president and CEO. Mr. Axon has been chairman since 1994 and was president and CEO from December 1994 through June 2000. The company can be found on the Web at http://www.franklincredit.com.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
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The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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The fintech posted its strongest quarter since going public last year and reported major consumer loan marketplace volume approaching $4.3 billion.
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