David Frase has been named executive vice president of mortgage warehousing at Southwest Securities FSB, a bank based in Arlington, Texas.Mr. Frase was most recently with Texas Capital Bank, where he established a national warehousing program, Southwest Securities said. He was previously a senior vice president of mortgage services at Providence Bank. Southwest Securities is a subsidiary of SWS Group Inc., which can be found online at http://www.swsgroupinc.com.
The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
