New American Funding names new co-CEO and presidentÂÂ
New American Funding promoted Patty Arvielo to co-CEO with her husband Rick, and Christy Bunce will succeed Arvielo as president.
Business
FOA agrees to sell commercial lending business to Roc Capital
The deal will cost Roc Capital as much as $30 million and will offload an FoA subsidiary division that offers residential real estate investment loans.
Figure partners with NovaWulf on proposed reorg of crypto lender Celsius
Figure will partner with NovaWulf Digital Management for a proposed reorganization of troubled crypto lender Celsius.
Northpointe Bank to shutter its correspondent lending business
Northpointe Bank will exit its correspondent lending business to focus on retail lending, mortgage warehouse financing and specialty loan servicing.
Regulator in Illinois suspends Michael Strauss, Smart Rate licenses
A regulator in Illinois has suspended the MLO license of Michael Strauss and the license for his mortgage company, Smart Rate Mortgage, essentially blocking the company from operating in the state.
Baret Kechian, top loanDepot LO, sees bidding wars returning to his market
Baret Kechian, loanDepot’s top producer and branch manager, is joining a slew of mortgage loan originators who are cautiously optimistic about the mortgage landscape in 2023.
Mortgage lenders American Portfolio and Town Square announce merger deal
Nonbank mortgage lenders American Portfolio Mortgage Corporation and Town Square Mortgage announced on Wednesday that they are merging their operations.ÂÂ
What States have the Highest and Lowest Income Taxes?
Not every state in the US has the same state income taxes! Many states have zero income taxes (Texas) while others have extremely high income taxes (California)! It is not just income taxes that vary by state. Different states have different property tax rates, different vehicle tax rates, different sales tax rates, and more. Income … Read more
Mortgage Delinquency Rates Record Low – Is This the Calm Before the Debt Storm?
Mortgage delinquency rates are at all-time lows, but some key metrics indicate that this might change. Learn more here.
Is It True That Baby Boomers dying off Will Cause A Housing Decline?
Everyone keeps asking me if Baby Boomers dying off will cause a housing decline? This idea may have been started by Robert Kiyosaki who wrote a book in 2002 about baby boomers creating a stock market crash in 2016. Obviously, there was no stock market crash in 2016 but that has not stopped people from … Read more