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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There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
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Foundation had introduced Version 3 of its credit risk model, using the most recent delinquency data, to improve loan performance predictions.
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Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.
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The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."
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The bureau said the move is intended to remove potentially confusing language with an upcoming revision to the Equal Credit Opportunity Act.
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