People

Nonprofits connecting Historically Black Colleges and Universities to mortgage career education courses seek to increase the number of Black professionals in the field, who in turn may help to increase homeownership among underserved populations.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

Estimates suggest the government-sponsored enterprises did encourage increased lending to this demographic last year but ran into challenges related to the pandemic's impact and their own fluctuating business models.

The programs from the trade group are aimed at helping the bank improve its employee representation and workplace culture.

In a pandemic-scarred year, boards and compensation committees at 60 large and regional banks relied less on the normal performance metrics and more on qualitative criteria to determine bonus payments.

There is a persistent undersupply of moderately-priced homes, which continues to push affordability and the dream of homeownership further into the future for millions of potential first-time minority homeowners, writes the president of mortgage for Radian Group Inc.

The top executives at Bank of America, Citigroup and Wells Fargo all received less compensation during a year shaped by the pandemic, while several regional bank CEOs got large pay hikes.

Also, Roostify names new CTO, Elite Digital gets a new partner, and Mortgage Contracting announces leadership changes.

The relatively small addition of 266,000 positions to the broader market in April suggests that income uncertainty, which could impact some borrowers’ ability to qualify for or pay loans, could become a concern among lenders and brokers.

Also, per-loan compensation keeps dropping due to the persistence of refinancing in the mix but it could rise as the purchase share of the market increases.