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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Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
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The addition of HELOCs at SoFi comes alongside the launch of a new advisory group, as the company heightens its focus on real estate lending.
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The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.
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Builder mortgage units saw Q1 profit slides (NVR down 17%) despite an 11% rise in new home loan applications. Overall homebuilder net income dropped, and sales incentives remain high.
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Toll Brothers' purchase of Buffington Homes of Arkansas will extend its national outreach with a strong presence in northwest Arkansas, the company said.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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