Harold F. McElraft has been named chief financial officer and treasurer of Hanover Capital Mortgage Holdings Inc., a real estate investment trust based in Edison, N.J.Mr. McElraft, 60, succeeds J. Holly Loux, who left the mortgage REIT on April 12. Mr. McElraft has been a partner since 2002 in the New York office of Tatum CFO Partners LLP, a national firm of career CFOs that provides financial services, and he will remain a partner at the firm, Hanover Capital said. He was previously a department vice president with Prudential Financial Inc., Newark, N.J. Mr. McElraft has been a consultant to Hanover Capital since November 2004. The REIT can be found online at http://www.hanovercapitalholdings.com
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New American Funding also promoted Stacy Chevalier Northwest regional vice president, and MISMO added three members to its board of directors.
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GSE loans between 30 and 59 days late on their payments saw a 13 basis point rise in delinquency rates, while most non-agency MBS types saw annual increases.
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A lawsuit claims the bureau regularly assigns higher-responsibility examination work to Black workers without corresponding pay bumps or promotions.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
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A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
September 25 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
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