Gene Morris has been named executive vice president and Southeast/Midwest regional manager of Metrocities Mortgage, Sherman Oaks, Calif.Mr. Morris will be responsible for managing loan production in the 16-state Southeast/Midwest region, and he will be based in Charlotte, N.C., Metrocities said. Mr. Morris was previously employed for 26 years in the mortgage and banking divisions of Bank of America, most recently as an executive in national direct sales strategy. He also held the titles of national director of retail sales and national sales manager, among others, the company said. Metrocities Mortgage can be found on the Web at http://www.metrocitiesmtg.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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