Wolters Kluwer Financial Services, Minneapolis, has named Ken Newton executive vice president of banking content.Mr. Newton will be responsible for the company's overall growth in the banking, credit union, indirect lending, and mortgage markets. Prior to this promotion, Mr. Newton served as the vice president and chief operations officer for WKFS, where he led the operational aspects of the organization's manufacturing, customer support, product distribution, and enterprise systems. He also led the implementation of Lean Six Sigma across the company. WKFS can be found on the Web at http://www.wolterskluwerfs.com.
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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