Paragon Financial Corp., Ponte Vedra Beach, Fla., has announced the signing of Hall of Fame hockey great Phil Esposito under a marketing plan that aims to teach the mortgage business to current and former athletes.Mr. Esposito will work from Paragon's new Tampa, Fla., office, but will be involved nationally in Paragon's effort to expand its mortgage origination business, the company said. "This partnership with Paragon offers Phil an opportunity to create a successful post-sports business within our mortgage division by working with developers, national builders, and real estate agents," said Scott Vining, Paragon's chief financial officer. The company can be found on the Web at http://www.pgnf.com.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
September 17 -
The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17 -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
September 17 -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17