Shore Mortgage, Birmingham, Mich., has announced that it is recruiting 150 new employees, including underwriters, account executives, and loan officers, for its five locations in the Detroit metropolitan area.Noting that its announcement runs counter to the industry trend of downsizing and layoffs, the company touted its "consistent growth pattern" and said full-time positions are available in Birmingham, Canton, Roseville, and Taylor. Shore said mortgage professionals with experience in closing, processing, underwriting, servicing, post-closing, accounting, secondary marketing, quality control, information technology, or customer service are encouraged to apply for the positions. The company can be found online at http://www.shoremortgage.com.
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The Interlock group allegedly seized over 2 terabytes of data from NFM Lending, including its Encompass data, employee files and other internal information.
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On a day when the 10-year Treasury hit levels last seen in 2007, the Community Home Lenders of America celebrated an X post by Bill Pulte on increased MBS buys.
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Non-qualified mortgages account for 23.1% of the series 2026-7 pool, by balance, and 43.4% of the loans in the pool were made to investors for business purposes and are exempt from the Ability-to-Repay rules.
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Besides promoting Sridhar Sharma to CEO from president, the company named Andrew Bon Salle, ex-Fannie exec, as its new chairman, both replacing Chris Marshall.
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Several proposed updates, including lower risk-weight floors for certain securitizations and corporate loans, could make it more attractive for banks to finance or hold certain private credit-related assets, experts say.
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Federal Reserve Gov. Michael Barr appears to be among the majority of monetary policymakers who foresee at least one more rate hike before the end of the year.
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