Michael A. Benoit has been named executive vice president and chief legal officer of Mavent Inc., an Irvine, Calif.-based provider of automated compliance systems for the financial services industry.The company said Mr. Benoit will lead its contract management efforts and assist in the management of the Mavent Legal Network, a group of more than 40 law firms that assist Mavent in maintaining and interpreting regulatory law. Mr. Benoit formerly worked for Hudson Cook LLP, a financial services law firm based in Linthicum, Md., where he assisted banks, credit unions, mortgage bankers, and others in developing consumer finance programs. Mavent can be found online at http://www.mavent.com.
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The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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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.
August 13 -
The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
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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.
August 13 -
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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