Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $534 on each loan they originated in the second quarter, according to data from the Mortgage Bankers Association (MBA). The second quarter results marked an...
UFCU, the Austin-based credit union with $4.676 billion in total assets, has hired Christy Soukhamneut as chief lending officer. In her new role, she will be responsible for overseeing the consumer lending organization, which includes mortgage and direct auto lending,...
The New York City-headquartered global law firm McDermott Will & Emery has hired David Herman as a partner in its Transactions Practice Group. Herman is a real estate lawyer focused on commercial real estate transactions across the full spectrum of asset classes,...
At a time when home prices remain near their record highs, a residence in Pontiac, Michigan is occupying space at the other end of the price spectrum. According to a Business Insider report, there is listing for a house in Pontiac, Michigan, with a $1 price tag. No,...
Nearly one-third of Canadian homeowners have fallen into despair over their mortgage situation, according to a new survey conducted by the Real Estate and Mortgage Institute of Canada (REMIC). In a poll of 1,000 Canadian adults, 34.1% of respondents said that “they...
The Consumer Financial Protection Bureau (CFPB) has levied a $1.75 million fine against Freedom Mortgage Corp., accusing the Boca Raton, Florida-based lender of providing illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals. The...
