Residential Towers Dominate Skyscraper Construction

The count of construction cranes is up more than 10 percent across all of North America, with Toronto and Seattle topping the list.

Hey regulators, let’s fix the Community Reinvestment Act

The Community Reinvestment Act is important to provide fair access to credit and investment, and many financial institutions agree it’s an important tool in their business strategy. But current guidelines render it ineffective, and it’s time regulators institute much-needed change.

Hey regulators, let’s fix the Community Reinvestment Act

The Community Reinvestment Act is important to provide fair access to credit and investment, and many financial institutions agree it’s an important tool in their business strategy. But current guidelines render it ineffective, and it’s time regulators institute much-needed change.

Citizens Bank completes acquisition of Franklin American Mortgage

Citizens Bank’s acquisition of Franklin American Mortgage is now complete. Citizens said that the deal will triple the size of its off-balance sheet mortgage servicing portfolio and more than double its mortgage origination platform. When it was announced, the deal was originally valued at $511 million.

LRES announces new SVP of corporate administration

LRES Corp., a national residential and commercial mortgage services company, recently announced it promoted Jill Haro to the position of senior vice president of corporate administration.Haro has more than 15 years of experience in the real estate mortgage services industry and was recognized as a vital leader in the effort to grow the company’s business and market share.

LRES announces new SVP of corporate administration

LRES Corp., a national residential and commercial mortgage services company, recently announced it promoted Jill Haro to the position of senior vice president of corporate administration.Haro has more than 15 years of experience in the real estate mortgage services industry and was recognized as a vital leader in the effort to grow the company’s business and market share.

Senate postpones vote for next CFPB director

The Senate Banking Committee was set to vote Thursday on the confirmation of the next director of the Consumer Financial Protection Bureau, but announced suddenly that it would postpone its vote. The new date for the vote is still to be determined.

Nationstar’s Xome acquires Assurant Mortgage Solutions

Xome, a subsidiary of Nationstar, announced it acquired Assurant Mortgage Solutions from Assurant, a global provider of risk management solutions, for $35 million. The acquisition expands Xome’s footprint and grows its third-party client portfolio in its valuation, title and field services business.

Lenders aren’t very interested in small-dollar mortgages

Applicants looking to get a small-dollar mortgage struggle to get approved, but it has nothing to do with their credit worthiness. The denial rate for mortgages up to $70,000 was 18% in 2017. This is about double the denial rate for loans of more than $150,000 that same year.

Freddie Mac: Mortgage rates reach fourth highest level of 2018

Mortgage rates climbed higher this week, reaching its fourth highest level of 2018, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater says potential high inflation and borrowing costs will modestly rise in coming months.