GMAC Mortgage, Horsham, Pa., has announced the recent appointment of two chief operating officers and a chief financial officer.Ralph Hall has been named chief operating officer for business operations, and will oversee GMAC Bank, business lending, capital markets, and information technology, the company said. Jim Hillman has been named COO for consumer operations, overseeing consumer lending, national loan administration, and servicing assets. The new CFO is Dave Bricker. GMAC Mortgage also announced the appointment of Jim Whitlinger as senior vice president and chief accounting officer, and Scott Griffith as vice president and managing director of servicing valuation and analytics. The company can be found online at http://www.gmacmortgage.com.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18