J. Christopher Clifton has been named senior vice president, general counsel, and chief compliance officer of Opteum Inc., a Vero Beach, Fla.-based real estate investment trust.Mr. Clifton was most recently an attorney with PPG Industries. Opteum, which invests in residential mortgage-backed securities and originates loans through a taxable REIT subsidiary, can be found on the Web at http://www.opteum.com.
United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
