Industry veteran Dale Kurland, a former managing director at Bear Stearns, has formed a new advisory firm, hoping to tap what could be a hot merger market for mortgage companies in the next few years."We anticipate a robust market for mergers, acquisitions, and overall consolidation in the mortgage business for the foreseeable future," said Ms. Kurland, who will serve as chief executive of her new firm, Classic Strategies Group LLC. The new company is based in New York. Prior to launching CSG, Ms. Kurland was a principal in DK Advisory Services. DKAS advised on several franchise-related deals, including the sale of First Town Mortgage, James Madison Mortgage, Knutson Mortgage, and others. In the early 1990s, Ms. Kurland was the head of mortgage banking M&A for Bear Stearns. CSG can be found online at http://www.classicsg.com.
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The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.
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Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.
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Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.
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Cybersecurity platforms said infiltrators gained access to terabytes of data with a wealth of personal information, but the lender disputed reported numbers.
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The change aims to address hurdles in the onboarding process, which many have cited as a point of friction in mortgage servicing.
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The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.
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