Arthur Fleming has joined the National Community Capital Association, a national network of more than 160 private-sector community development financial institutions, as executive vice president and chief lending and investment officer.Mr. Fleming, who was most recently senior director for the Southeast region of the Fannie Mae Foundation, will lead the NCCA's new strategy to increase the volume of financing available in emerging domestic markets, the association said. At GMAC Mortgage, Mr. Fleming was senior vice president and managing director of the Housing Initiatives Group. Before joining GMAC, Mr. Fleming was the founder and executive director (from 1990 to 1999) of the Community Financing Consortium in South Florida. The NCCA, can be found online at http://www.communitycapital.org.
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The enterprises also still plan to add FICO 10T but the release of the historical data stakeholders in their market can use to assess it has taken longer.
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Builder mortgage units saw Q1 profit slides (NVR down 17%) despite an 11% rise in new home loan applications. Overall homebuilder net income dropped, and sales incentives remain high.
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Toll Brothers' purchase of Buffington Homes of Arkansas will extend its national outreach with a strong presence in northwest Arkansas, the company said.
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Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."
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The company that the global firm is investing in owns a U.S. mortgage correspondent business and another domestic lender that does business with brokers.
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The Consumer Financial Protection Bureau has finalized changes to Regulation B, which implements the Equal Credit Opportunity Act, to eliminate any liability for indirect discrimination by lenders. The change represents a major shift in how the agency polices lending discrimination.
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