Richard L. Burr has been hired as chief operating officer at Ocean West Holding Corp., Tustin, Calif.Mr. Burr has held senior executive positions with mortgage companies such as American Home Loans, Citicorp Mortgage Inc., Imperial Credit Industries, and Metmor Financial Inc., Ocean West said. Mark Stewart, chief executive officer of Ocean West, said Mr. Burr was the top net branch executive for American Home Loans.
The Rithm subsidiary plans to reduce its involvement in decentralized operations through an agreement with the American Pacific Mortgage affiliate.
A week after falling to its lowest point since mid-May, the 30-year fixed rate mortgage turned higher as the 10-year Treasury rose 15 basis points since June.
Realtor.com's latest forecast projects prices will grow 1.2% in 2026, lower than its original estimate of 2.2% and well below the current pace of inflation.
A new class action lawsuit accuses the banking giant of failing to lower borrowers' interest rates following a series of Federal Reserve rate cuts.
The fintech's Figure Connect private credit loan exchange has grown to account for 56% of total consumer marketplace activity in early 2026.
However, for the second quarter, increased home purchase mortgage activity contributed to an industry-wide 11% increase in agency securitizations, BTIG said.
