National City Home Equity, Cleveland, has announced a new organizational structure that creates two U.S. divisional sales territories: the Eastern Division, headed by Mike Kelly, and the Western Division, headed by Terry McChrystal.Mr. Kelly joined National City as the credit and business risk manager in 2000, the company said. He was previously head of operational risk management at Chase Manhattan Mortgage and held management post in Chase's consumer products division. National City said Mr. McChrystal joined the company in 2002 as retail sales manager and later managed sales support for National City Mortgage. He previously worked with Record Data Inc., TRW Real Estate Loan Services, Strategic Mortgage Services, and Mortgage Information Services. National City can be found online at http://www.nationalcity.com.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
August 12 -
In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
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