Tommy Orr has been named chief operating officer of Network Funding LP, a Houston-based wholesale mortgage lender.Mr. Orr has been head of branch development and support for Network Funding since joining the company in 2004. Before that, Mr. Orr served as senior vice president for Harbor Financial Mortgage Corp., America's Lending Center Inc., and FundAmerica Mortgage LLP, and he owned his own mortgage company, Texas United Mortgage, from 2001 to 2004. He is a past director of the Texas Mortgage Bankers Association. Network Funding can be found online at http://www.networkfundingusa.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
4h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
8h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
11h ago -
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.
April 24 -
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.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24