C.D. Davies has been named chief executive officer of LendingTree LLC, Charlotte, N.C., and Bob Harris has been named president and chief operating officer of the company.Mr. Davies was most recently president and CEO of Wachovia Mortgage Corp., where he was employed for 18 years, according to LendingTree's parent company, IAC. Mr. Harris joined LendingTree in 2000 as vice president of marketing and was named chief marketing officer in 2004. He previously held various positions at The Coca-Cola Co. and McCormick & Co. LendingTree, an online lending exchange, is an operating company of IAC, which describes itself as "an interactive conglomerate." The two companies can be found online at http://www.lendingtree.com and http://www.iac.com.
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After home equity surged in 2023, average gains slowed last year before falling into negative territory over the past 12 months, Cotality said.
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For 2026, the mortgage industry operating environment will improve, while nonbank financial metrics should be within Fitch's rating criteria sensitivities.
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Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
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The executive order described state legislation on artificial intelligence as a cumbersome patchwork, and pledged to develop a national framework.
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The Department of Housing and Urban Development announced the FHA-insured loan caps for low- and high-cost areas, which are set based on conforming loan limits.
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Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
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