Michael D. Calhoun, a principal author of the 1999 North Carolina anti-predatory-lending law, has been named president of the Center for Responsible Lending, Durham, N.C.Mr. Calhoun, formerly CRL's general counsel, has been its lead lobbyist in Washington and state capitals for years, the organization said. Before his work at CRL, he managed the secondary-market program and real estate development team at the Center for Community Self-Help, an affiliate of CRL. CRL can be found on the Web at http://www.responsiblelending.org.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
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In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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