Lisa Pendergast will be promoted to treasurer when Karpowicz leaves, the Milwaukee-based company said today.
Karpowicz joined the insurer in 1986 as an assistant treasurer and has held his current position since 2005.
After shedding nearly 30% of its workforce in 2022, Envoy has leaned into a referral- and affiliate-based business model through strategic investments.
Rate movements changed market dynamics from early-year forecasts, contributing to risk signals in one out of every 119 applications, according to Cotality.
The company's affiliate has been issuing non QM deals that include a small percentage of second liens, some of which also involve alternative documentation.
The latest consumer conditions study from the American Financial Services Association paints a less-than-rosy picture of how lenders expect the second half of the year to play out.
July sales rose 7% compared with the previous year, but a 7.7% drop in pending listings indicates future loan volume is drying up, according to Zillow.
The 3 basis point gain in the 30-year fixed comes as investors are now pricing in the likelihood of a Federal Reserve short-term rate hike in September.
