A European title insurance underwriting affiliate of Stewart Information Services Corp., Houston, has opened a new office in Budapest, Hungary.The company has named Gabor Kovats, who has nearly 10 years of experience in the country's financial and real estate industries, as the business development manager for Hungary. "The Hungarian title insurance industry is growing, and the opening of our Budapest office and the addition of Gabor will ensure that we are there to fully support and become an essential resource to our clients," said Steven M. Lessack, chief executive officer of Stewart Title Ltd., London.
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
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The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
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Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
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The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17