Michael D. Meyer has been named executive vice president for the new Texas operations of Homefield Financial, a mortgage banker based in Irvine, Calif.Mr. Meyer will oversee the firm's expansion into the Texas market, from which it will primarily serve Homefield's customers in the Central and Eastern United States, the company said. Homefield said it will open its Irving, Texas, loan center in April with 20 employees and expand it to 150-200 employees over the next 18 months. Before joining Homefield, Mr. Meyer served as president of Fort Worth, Texas-based Touchstone Communications, an offshore business process outsourcing company serving major U.S. mortgage companies. He was previously a senior vice president with Associates First Capital Corp. in Dallas, and he also worked with NovaStar and Oak Street Mortgage.
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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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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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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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Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.
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