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 founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
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The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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