Richard A. Kraemer has been elected chairman of the board of Saxon Capital Inc., a residential mortgage lender and servicer based in Glen Allen, Va.Saxon said the move followed the board's acceptance of Edward G. Harshfield's resignation as chairman "as a result of increased responsibilities in other business activities." Mr. Harshfield will continue as a board member. Mr. Kraemer has been vice chairman of Saxon's board since 2001 and chairs its Audit Committee. The company can be found online at http://www.saxoncapitalinc.com
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28