Platinum Bancshares Inc., Rolling Meadows, Ill., has announced the signing of a common stock purchase agreement with Taylor, Bean & Whitaker Mortgage Corp. under which TB&W will acquire a controlling interest in Platinum.The terms of the deal were not disclosed. William Giambrone, chairman and chief executive officer of Platinum, said TB&W is "one of the premier national players" in the prime residential mortgage market. The transaction will allow Platinum to diversify its products and services, he said. TB&W is based in Ocala, Fla.
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Freedom alleged the executive, who was at the company for nine months, used proprietary data to build his own product he expected to net more than $1 million.
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Despite high rates and the "locked-in" effect, many Gen Z and millennial homeowners want to bring down their monthly mortgage payments
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The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
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Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
June 22 -
Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.
June 22 -
William Isaac led the Federal Deposit Insurance Corp. through the banking and thrift crises of the 1980s and was a frequent commentator on bank regulation after his time in public service.
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