Virginia Martinez has been named senior vice president for the Southern California region of Metrocities Mortgage LLC, a residential mortgage lender based in Sherman Oaks, Calif.Ms. Martinez, a previous employee at Metrocities, will be responsible for managing the Sherman Oaks Loan Center, working with the company's MetroAmerica Division for expanding markets, and providing support for the Santa Barbara and Pasadena loan centers, Metrocities said. Ms. Martinez has had 25 years of experience in the financial industry, including 13 years in mortgage banking, the company said. She was most recently an area sales manager for Countrywide Home Loans. Before that, she managed several Metrocities loan centers in Los Angeles, Orange, and Ventura counties. Metrocities can be found online at http://www.metrocitiesmtg.com.
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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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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
August 12 -
In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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