Frank V. McMahon has been named vice chairman and chief financial officer of The First American Corp.Mr. McMahon, currently a managing director with Lehman Brothers Holdings, will join First American on March 31. He will be responsible for First American's financial reporting division, capital markets activities, investor relations, and will oversee the operations of First American Trust and First Security Thrift, the company said. In addition, he is slated to work with other senior management on strategic planning and merger and acquisition activities.
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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.
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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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The fintech posted its strongest quarter since going public last year and reported major consumer loan marketplace volume approaching $4.3 billion.
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Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.
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United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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