American Home Bank NA, Mountsville, Pa., has announced the opening of a Correspondent Lending Division that will specialize in the construction-to-permanent loan market.The new division, to be headed by senior vice president Brad La Salle, will service national and regional mortgage bankers who need customized CTP loans for borrowers and builders, the bank said. A new automated online platform, ConstructionMac, customizes the draw schedule to a builder's building schedule and "simplifies, streamlines, and accelerates the entire funding process by coordinating the loan structuring, underwriting, closing, and construction servicing into a seamless operation," according to AHB. Mr. La Salle said the division enables lenders "to expand their new home financing business without having to invest in internal CTP processes and training." The bank can be found online at http://www.bankahb.com.
-
New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
54m ago -
Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
1h ago -
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28