In her first official act as chair of the Mortgage Bankers Association, Regina Lowrie says she will create a new council to develop a "tactical plan" that will serve as a guide for the now 3,000-member trade group through the next decade.Described by the Horsham, Pa., lender as a "think tank," the panel of 15-20 members will include "some of the most accomplished leaders" in the housing finance field, Ms. Lowrie said at the MBA's annual convention in Orlando. She said she has "someone in mind" to chair the council but declined to name the person because he, or she, hasn't been asked as yet. Ms. Lowrie told MortgageWire that the group will consist of nonpartisan, independent thinkers who represent all facets of the "food chain," including large and small, commercial and residential, and all the production channels. The MBA's current three-year strategic plan is entering its second year, and Ms. Lowrie expects the council's report, due by the end of summer 2006, to set the framework for the trade group's next blueprint. "I think that, as the trade association that speaks for the housing finance industry, this is a major undertaking," she told MW. "This will be a big part of my legacy."
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25