The Mortgage Bankers Association said Wednesday that its annual convention will begin on schedule in Orlando, Fla., this Sunday despite the fact that Hurricane Wilma is threatening the southern part of the state."Nothing has changed," said a trade group spokeswoman. "We are not canceling." Paul Green, the MBA's senior vice president of corporate relations, issued a statement saying that the MBA is closely tracking the hurricane but that, based on "facts being provided by the National Hurricane Center," Hurricane Wilma will be "well south" of Orlando. The storm is expected to make landfall in the next few days, reaching the South Florida mainland late Saturday night.
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The company's servicing valuations fell but by less than in previous quarters. Lower rates both aided production and created recapture opportunities.
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Kin, a direct-to-consumer insurance provider, has started a mortgage broker in Florida which also takes loan applications through a call center or online.
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Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.
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The housing agency director also announced plans to donate his salary to help wounded veterans as CHLA and ICBA push for the enterprises to resume MBS buying.
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The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion.
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Stenger joins the Chicago-based lender after more than a decade at Movement Mortgage and will oversee its retail platform, including new tech enhancements.
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