The news that the privately held Prospect Mortgage of Sherman Oaks, Calif., has hired industry veteran Amy Brandt to head its foray into both servicing and correspondent lending should surprise no one. Brandt is a well respected mortgage manager who knows the business inside and out. Her ascension there is just another signal that nonbanks see a major opportunity in residential finance – despite all the talk of how Basel III
With 55% of homeowners planning to renovate rather than relocate, demand for home improvement capital will be strong even if the purchase market slows further.
Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.
The Securities and Exchange Commission said Rule 14a-8 exceeds its statutory authority and intrudes on matters of state law. Shareholder advocacy groups, however, argue that repealing the rule could reduce transparency.
Brian Johnson's nomination to lead the Consumer Financial Protection Bureau advanced to the full Senate Thursday morning in a party-line vote.
Mortgage companies have transitioned from trying to encourage AI use to managing spending on it through a strategy dubbed "tokenomics."
Foreclosure rates were highest in the region, and nationwide, completed repossessions also saw a significant jump, according to Attom.
