ING Real Estate has appointed Michiel Rang as senior managing director for international real estate finance and a member of the management board of ING Real Estate Finance.Mr. Rang was previously managing director for international property finance and was responsible for business in continental Europe. When he assumes his new title on May 1, he will be responsible for ING Real Estate Finance's business outside the Netherlands.
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.
United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
