Nitin Dave has been named executive vice president and director of loan administration and finance at Pinnacle Financial Corp., an independently owned direct mortgage lender based in Orlando, Fla.Mr. Dave has more than 25 years of experience in mortgage banking, mortgage servicing operations, commercial lending, consumer banking, and investment banking, Pinnacle said. Before joining Pinnacle, Mr. Dave’s career included management-level positions at Fannie Mae; Taylor, Bean & Whitaker Mortgage Corp.; and Citizens Trust Bank. Pinnacle also announced that Peter Weigold has been named vice president for secondary marketing. Mr. Weigold was most recently head of the secondary marketing department at American Home Mortgage. Pinnacle can be found online at http://www.pinnaclefinancial.com.
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The change aims to address hurdles in the onboarding process, which many have cited as a point of friction in mortgage servicing.
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The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.
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Freedom alleged the executive, who was at the company for nine months, used proprietary data to build his own product he expected to net more than $1 million.
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Despite high rates and the "locked-in" effect, many Gen Z and millennial homeowners want to bring down their monthly mortgage payments
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The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
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Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
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