Reverse Mortgage Solutions Inc. promoted chief operating officer Marc Helm to president. Helm, a founding partner of the Spring, Texas-based firm, replaces Ken Austin, who is leaving the company to pursue personal interests, a company statement said. Helm joined RMS after a career of 30 years in the mortgage-servicing sector. He is a former senior officer at Washington Mutual, where he was responsible for helping WaMu integrate all loan servicing acquisitions into its system. In addition, RMS hired Michael Clendennen as chief financial officer and Michael Kent as senior vice president of portfolio retention. Clendennen has served the past eight years as vice president and controller at Allied Home Mortgage Capital Corp., Houston. Kent has over 28 years of experience with regional and national lending institutions, including several senior management and executive positions. For the past eight years, he has owned and operated mortgage and real estate sales companies in Los Gatos, Calif.
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The 30-year fixed rate mortgage is below 6.8% for the first time since May as the 10-year Treasury moved lower with the headlines of the past week.
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The department's move is the latest HUD decision aligning with the Trump administration's deregulatory strategy that targets many ESG programs.
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As news of Bayview Asset Management's purchase of Guild Mortgage broke, recruiters have ramped up outreach to the mortgage lenders' originators.
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Lenders have been working to shrink their rent-regulated real estate loan portfolios since a watershed state law passed in 2019, but those plans may be accelerated.
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Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.
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The regulator and conservator of two influential loan buyers with government ties has directed them to look at digital currency's use in qualifying borrowers.
June 25