Prudential Mortgage Capital, Newark, N.J., has appointed Carmen Bowser a principal with the company's National Accounts Group in New York City.Ms. Bowser will be responsible for covering direct lending relationships in the origination of loans through Prudential's various capital sources, including general account, conduit, Fannie Mae, bridge, and mezzanine loans, Prudential said. Ms. Bowser joins the company from TIAA-CREF, where she was responsible for originating commercial mortgage loans in the eastern United States and Canada. She has also done a previous stint with Prudential, in the corporate finance and commercial mortgage areas, the company said. Scott Chisholm, also a principal, will continue to be responsible for covering all mortgage banking relationships as well as direct relationships in the New York region.
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The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.
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A trade group for participants in the clean energy loan program argues the upcoming regulations will be too burdensome and costly for participants.
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Company leaders said current strategy sets it up to profit and compete against its rivals as the mortgage market improves in the coming months.
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The average price of a single-family home increased 1.7% from last year to $426,800 in the third quarter.
November 6 -
Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
November 6 -
New guidelines should provide homeownership opportunities for certain consumer segments with thin credit files and open up product options, lenders said.
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