Robert M. Stata has been named president of Citizens Mortgage Service Co., a wholly owned subsidiary of IMN Financial Corp., Melville, N.Y. IMN said Mr. Stata's mission is to turn Citizens, which was acquired on Sept. 5, into a competing retail subprime lender.IMN, through its subsidiary Island Mortgage Network Inc., is a full-service mortgage banking firm with 49 branches.
Over one-third of the Wolters Kluwer survey participants believe the next Fed move will be to boost short-term rates, but most expect one cut next year.
The National Association of Home Builders Remodeling Market Index for the second quarter posted a reading of 61, a one-point decline from the first quarter.
The new Mortgage Bankers Association research adds to debate over whether Fannie Mae and Freddie Mac should allow a less costly alternative to the tri-merge.
Wide regional variances appeared in housing-start activity in 2025, when the traditional leading builder markets all saw numbers decline by as much as 15%.
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
Total application volume fell by over 13.000 units on a month-to-month basis, with declines in purchase and refinance activity, Keefe, Bruyette & Woods said.
