VIRGINIA
MCLEAN
First Guaranty Mortgage Corp. promoted Jeffrey Gibson to the position of AVP, correspondent division manager.
Gibson has 12 years of mortgage lending experience, and has been with FGMC for four years, primarily as product development and training manager.
Before coming to FGMC, Gibson was with Aurora Loan Services, where he spent five years in underwriting.
Previously, he served with Wells Fargo, and began his career with First Nationwide Mortgage Corp.
The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.
A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.
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.
