Bill Adamowski, chairman of MortgageHub, will resume the role of president and chief executive officer of the company in conjunction with a new growth strategy for the Des Moines, Iowa-based Web services platform provider.Mr. Adamowski said the company will hire more than 30 technology professionals and open at least four news offices over the next 60 days to help execute the strategy, which will include acquisitions and the introduction of new products. "For the past two years, my team and I have been working on putting together what I feel is the future of mortgage technology," Mr. Adamowski said. "We took a team of the best technologists and completely removed ourselves from the day-to-day work of running a company and invested in the development of this revolutionary new platform." He said the new technologies will be unveiled next month at the Mortgage Bankers Association's annual convention. The company can be found online at http://www.mortgagehub.com.
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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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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.
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Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
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The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
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Underserved markets advocates also want to keep the 30-year mortgage and do more to expand rural and manufactured housing while preserving low cost homes.
8h ago