Nicholas Racanelli has joined Mortgage Advantage, Huntington, N.Y., as vice president of business development.
Racanelli formerly was regional vice president of South Fork Funding Inc., a mortgage brokerage firm in Hauppauge, N.Y.
Prior to joining South Fork, he was a senior loan originator at Racanelli/Spateri-GFI Mortgage Bankers Inc.
Mortgage Advantage is the residential and commercial mortgage brokerage affiliate of the Melville, N.Y.-based Advantage Group of Companies.
Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.
A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.
LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.
It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices Group say.
The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence.
