Demographics

Planet Home embarks on retail branch growth, Aces promotes compliance leaders, rising fintechs add sales executives plus more mortgage moves.

The decision to rejoin the CEO and chairman roles comes roughly two months after regulators removed an asset cap that had stunted the San Francisco-based company's growth for seven years.

The Stamford, Connecticut-based bank hired Steven Sugarman to be its president. The former bank CEO, who now heads one of the country's largest mission-based lenders, will help drive an effort to close a capital gap.

writes the Senior Economist for LendingTree

The top city, Myrtle Beach, S.C., saw a 23.1% rise in the amount of people aged 65 and over moving in.

In the top city, 27.43% of mortgages were offered to Gen Xers.

Gen Z and millennials are more willing to take a higher mortgage rate in order to buy a home than Gen X and baby boomers, the ServiceLink report found.

While several communities offer monetary incentives to attract new residents, some are making overtures with down payment and other types of assistance aimed at building up their local housing markets.

Gen Z homebuyers make up a 21.26% share of purchase requests in the top five metropolitan areas.

The bottom five metropolitan areas have an average share of mortgage purchase requests from Gen Z homebuyers of 9.29%.

Younger customers want personalized engagement, including in their music playlists, experts said at American Banker's recent Digital Banking conference.

While paying off existing loans is their most immediate priority, buying a house is the No. 1 aim within five-to-10 years, a FinLocker survey found.

Mortgage companies are using AI and other tools to reach those who expect nothing less than a super-personalized and interactive experience from their online services.

But a large gap exists in the degree of energy and investment depository institutions put in their customer acquisition efforts versus nonbanks, according to Arizent research.

Just under half of respondents in a recent mortgage study said cost of living increases have impacted their ability to make a home loan payment in the past six months.

Terry Dolan will see his role expand when two senior executives retire this summer, and will then hand over CFO duties to John Stern in September.

But these expenditures are still expected to increase by over 10% compared to 2021, which is more than double the 5% historical average, the Joint Center for Housing Studies of Harvard University said.

Hafize Gaye Erkan, whose surprise departure from First Republic Bank disrupted the lender’s succession plans earlier this year, will become chief executive officer of Greystone as the closely held commercial-property lender expands into wealth management and private banking.

But the share of homes purchased by those under age 30 has fallen steadily after peaking in 2020 as prices accelerated.

This group is decidedly less ambivalent about the housing market — and saving and investing — than their millennial brothers and sisters.