The Mortgage Bankers Association has promoted John Mechem to senior director of public affairs. In this capacity, Mr. Mechem will be responsible for developing and implementing MBA public affairs campaigns, serving as a primary spokesperson for the association and acting as a liaison between MBA and other industry communications representatives. "John's strategic vision and excellent communications skills have made him an invaluable asset to the MBA," said Jonathan Kempner, MBA's president and chief executive officer. "As the mortgage industry continues to evolve, we are very fortunate to have John communicating on behalf of MBA and our members." Mr. Mechem joined MBA in 2006 from the American Forest & Paper Association after serving as director of communications. He has over 12 years of experience in public and legislative affairs. His background includes serving as press secretary for Sen. Jim Bunning, R-Ky., and previously as deputy press secretary for Sen. Mitch McConnell, R-Ky. He began his career as a legislative assistant for Rep. Jay Kim, R-Calif.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
May 10