Metrocities Mortgage LLC, a residential mortgage lender based in Sherman Oaks, Calif., and Keller Williams Realty Leaders have announced the formation of Metro Home Mortgage, a joint venture that will serve Indiana's Lake and Porter counties.Loan consultant Nicole Crist has joined the venture, based in Crown Point, Ind., to provide purchasers with access to more than 7,000 loan programs and in-house, "one-stop" real estate services and lending capabilities, the companies said. Metro Home will offer traditional and innovative loan programs, including interest-only, stated income/stated asset, and vacation/investment home financing. Metrocities can be found online at www.metrocitiesmtg.com, and Austin, Texas-based Keller Williams Realty International, the franchise parent of Keller Williams Realty Leaders, can be found at http://www.kw.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24