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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The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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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.
August 13 -
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.
August 13 -
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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