A top Federal Housing Administration staffer, Meg Burns, is leaving the agency and joining Potomac Partners, a Washington consulting firm, in February.Ms. Burns is the director of the FHA's single-family program development office, and she has worked on developing legislation to revitalize the FHA mortgage insurance program. She is best known for managing the FHA's reverse mortgage program, according to Brian Chappelle, a founding partner of the mortgage banking consulting firm. "Having Meg join Potomac Partners further strengthens one of our core competencies -- government lending -- and further expands our services into the rapidly growing field of reverse mortgages," Mr. Chappelle said.
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The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
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The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
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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.
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Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
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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.
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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.
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