Carlos M. Velez-Cruz has been named president of Oriental Mortgage, San Juan, Puerto Rico, and executive vice president of the parent company, Oriental Financial Group Inc.With the advent of Mr. Velez, the company said it expects to announce plans to "significantly expand" its mortgage business. Mr. Velez was most recently president of the equity wholesale division of Equity Financial Services of San Juan, a mortgage banking company. He was previously senior vice president and secondary market manager for the Popular Mortgage division of Banco Popular de Puerto Rico of San Juan, Oriental said.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18