With 17 years of mortgage technology experience to his credit, Jordan Brown has formed MarketWise Advisors, a consulting firm based in Ponte Vedra Beach, Fla.The new company was launched at the Mortgage Bankers Association's National Secondary Market Conference and Expo in Chicago. The practice will focus on technology selection and implementation for the mortgage space, broker-to-banker conversions, and prepayment scoring and reporting, and will have a special division for technology mergers and acquisitions. "[T]here is a need in the marketplace for key secondary talent to streamline operational processes, benchmark performance, and create the process necessary to sustain a competitive edge," Mr. Brown said. The company can be found on the Web at http://www.marketwiseadvisors.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.
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