Michael Detwiler has been named chief executive officer of Mortgage Cadence, a Denver-based mortgage lending platform provider.Mr. Detwiler has been president of the company since 1999. "By focusing Mortgage Cadence on its position as a pure lending product company, we can maintain our leadership position as the only true services-oriented, end-to-end lending platform," he said. Mortgage Cadence offers technology such as proprietary workflow and rules automation for the back office as well as a Web-based loan origination system, the company said.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
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The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17 -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
September 17 -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17