Residential Capital Corp. chief executive Bruce Paradis will retire on June 1 and be replaced by Jim Jones, who currently serves as the firm's chief operating officer and president.ResCap is the parent company of mortgage giant GMAC Residential. Mr. Paradis, 58, helped create the holding company a few years ago. He has worked for GMAC and its affiliates for 24 years. Late last year, hedge fund Cerberus Capital bought 51% of GMAC.
About 43% of Americans upgraded their homes last year, and 33% plan to remodel in the next year, according to a recent survey from Redfin.
Sun Belt states saw a noticeable surge in liens filed last year, with Florida accounting for 17% of the national total, according to Benutech.
CEO Tim Spence said folding in the acquired bank has gone to plan so far, but the biggest point of risk is still on the horizon.
Surge, which claims to serve some of the nation's larger wholesale players, said the lender's behavior was reminiscent of its spat with Black Knight.
Questions about the single-report option and whether VantageScore should be introduced before FICO 10T arose during a hearing on broader legislative proposals.
SecurityNational Mortgage Co. alleges that the larger competitor facilitated the mass resignation of its staff from Glendale and Scottsdale offices.