Mike Nazankiewicz has resigned as executive vice president and chief executive officer of the National Association of Mortgage Brokers, ending a six-year run at the helm of the trade group.His resignation was effective March 20. For now, his duties will be taken over by senior vice presidents Roy DeLoach and Cathi Eifert. Mr. Nazankiewicz, who joined the NAMB from the American Heart Association, is leaving for a career in "organizational guidance and leadership development," according to a statement released by the NAMB. A NAMB spokeswoman noted that he has spent a great deal of time working on the state level with broker trade groups, helping some states form their own trade organizations.
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Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume.
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The buyer will add around 800,000 loans to its hefty servicing portfolio, while Valon said it will shift away from servicing to focus on technology.
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The new law, which will mandate the Bureau of Indian Affairs to approve or deny loan applications within 30 days, passed with wide bipartisan support.
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The real estate technology company reduced its workforce and consolidated select vendor relationships. These moves will save the company roughly $2 million.
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The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.
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The 30-year fixed spiked earlier in the week, but fell as Middle East news helped to drive the 10-year Treasury yield lower by 9 basis points by Wednesday.
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