FNB’s 2017 acquisition of Yadkin Bank for $1.8 billion expanded its footprint into North Carolina, where the DOJ alleges it avoided providing mortgages to majority-Black and Hispanic communities. Continue reading
Employers added 353,000 workers to their payrolls in January, a “head scratching” jobs report from the Labor Department that kills prospects for a March rate cut “stone dead,” economist says Continue reading
Sixty-five employees are slated to lose jobs when the Atlanta-based lender, licensed in 48 states, ceases operations on March 29, the company confirmed in a WARN Act filing with Georgia officials. Continue reading
“Strategic move” expands New American’s footprint in the Midwest and East Coast regions, with a majority of DKMC’s loan originators and support staff to be retained. Continue reading
Fed Chair Jerome Powell says a rate cut at the central bank’s next meeting is not “the base case,” with policymakers wanting to see more data showing inflation is on a sustainable path down to 2 percent. Continue reading
Firming up of mortgage rates finally catches up with homebuyer demand, with applications for purchase loans falling by a seasonally adjusted 11 percent last week, MBA survey shows. Continue reading
If it takes longer than 60 days from the time an offer is accepted until close of escrow, Roam will make the homeseller’s mortgage payments for up 60 days after the scheduled closing date. Continue reading
Moody’s upgrades credit rating of “powerhouse in mortgage servicing” as it restructures the debt it uses to fund growth by issuing $1 billion in unsecured notes at 7.125 percent. Continue reading
In announcing the second Encompass deal this month, ICE cites investments in mortgage technology and data that automate and accelerate the lending process from start to finish. Continue reading
AI-driven, personalized listings will include an immersive virtual tour experience and data will be used not just for sales and marketing, but also restorations, renovations and appraisals. Continue reading