Prudential Huntoon Paige, the FHA-insured commercial mortgage loan business of Prudential Mortgage Capital, Newark, N.J., has expanded operations by opening a Rocky Mountain regional office in Englewood, Colo., and a Midwest regional office in Chicago.Prudential Huntoon Paige is looking for about $425 million in FHA business this year, Prudential said. To further this goal, the group has hired Carolyn McMullen to head its Midwest office. She previously was a mortgage banker with GMAC Commercial Mortgage, Prudential reports. And Martin Herz, who joined Prudential in 1998, has been named a principal responsible for FHA production at the group’s Rocky Mountain office.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
58m ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24