Mortgage Bankers Association

CMG Financial Partners with Sagent to Power Its Homeowner-First Servicing Ecosystem in 7-Year Deal

Retrieved on: 
Wednesday, March 6, 2024

“At CMG Financial, we deliver the right loans for the right reasons at the right time while exceeding expectations for customers, team members, investors, regulators, and partners,” said CMG Financial President and CEO Christopher George.

Key Points: 
  • “At CMG Financial, we deliver the right loans for the right reasons at the right time while exceeding expectations for customers, team members, investors, regulators, and partners,” said CMG Financial President and CEO Christopher George.
  • “Smart fintech is a huge part of this CMG strategy, and we’re confident Sagent is among the smartest partners in mortgage today.”
    While some lenders have retrenched during this market cycle, CMG is making major strategic moves.
  • Sagent can’t wait to help CMG build better relationships with today’s homeowners and buyers.”
    A comprehensive review of the market led CMG to select Sagent to power its servicing ecosystem with homeowner-first, enterprise-grade servicing technology.
  • This is the latest in a series of Sagent moves to transform the homeowner experience for financial orgs servicing millions of consumers with trillions in mortgage balances.

Two Harbors Investment Corp. Appoints Sanjiv Das as Director

Retrieved on: 
Monday, March 4, 2024

Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS real estate investment trust, today announced the appointment of Sanjiv Das to the company’s Board of Directors, effective immediately.

Key Points: 
  • Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS real estate investment trust, today announced the appointment of Sanjiv Das to the company’s Board of Directors, effective immediately.
  • “I am very pleased to announce the appointment of Sanjiv to our Board of Directors,” stated Stephen G. Kasnet, Chairman of the Board of Directors for Two Harbors.
  • Previously, Mr. Das served as Chief Executive Officer of Caliber Home Loans, Inc. from 2016 to 2021.
  • Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets.

CODE Staffing Adds Three Members to its Board of Advisors

Retrieved on: 
Thursday, March 7, 2024

Prior to his current role he served as Chief Operating Officer for a publicly traded reseller of wireless services.

Key Points: 
  • Prior to his current role he served as Chief Operating Officer for a publicly traded reseller of wireless services.
  • "This is an extremely strong group of advisors who will help CODE Staffing in our efforts to transform the contingent staffing industry," Griver said.
  • CODE Staffing is the IT contingent staffing arm of Houston-based The CODE Group, which was established in 1993 by Markus Egger and has grown its service offerings from publishing and distributing one of the longest-running, global software magazines (CODE Magazine), to completing multi-million-dollar projects with its CODE Consulting and CODE Training.
  • CODE Staffing provides professional software developers at a client's workplace or remotely to augment their software development team and help staff projects of any size.

Sagent Appoints Eugene “Geno” Paluso as CEO to Operationalize the Future of Mortgage Servicing

Retrieved on: 
Tuesday, February 13, 2024

Sagent , a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, today appointed Eugene “Geno” Paluso as Chief Executive Officer, effective February 12.

Key Points: 
  • Sagent , a Warburg Pincus-backed fintech software company modernizing mortgage servicing for banks and lenders, today appointed Eugene “Geno” Paluso as Chief Executive Officer, effective February 12.
  • Along with Sagent’s board and executive team of servicing experts, Paluso will operationalize the $14 trillion mortgage servicing industry’s first and only cloud-native software platform in 2024.
  • Paluso will succeed current CEO, Dan Sogorka, who will remain with the company as an advisor before transitioning to a new opportunity.
  • This is the latest move in Sagent’s multi-year strategic plan to build the future of mortgage servicing.

Natixis Corporate & Investment Banking strengthens Real Estate & Hospitality Americas practice with new leadership structure and key appointments

Retrieved on: 
Thursday, February 8, 2024

NEW YORK, Feb. 8, 2024 /PRNewswire/ -- Natixis Corporate & Investment Banking (Natixis CIB) today announced new senior appointments to the firm's Real Estate & Hospitality (REH) Americas team.

Key Points: 
  • NEW YORK, Feb. 8, 2024 /PRNewswire/ -- Natixis Corporate & Investment Banking (Natixis CIB) today announced new senior appointments to the firm's Real Estate & Hospitality (REH) Americas team.
  • Torres' appointment was followed by the appointments of Julie Han as Head of Underwriting and David Schwartz as Head of Portfolio Lending.
  • "We are entering a new era of opportunity regarding our coverage of the real estate sector," said Thierry Bernard, Natixis CIB Global Head of Real Estate & Hospitality.
  • He also led the origination platform for the Real Estate Finance and Mortgage-Backed Securities Group within UBS Investment Bank.

Cenlar SVP of Default Operations Ingrid Jaschok to Speak on Panel at MBA Servicing Solutions Conference & Expo

Retrieved on: 
Tuesday, February 6, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240206674266/en/
    Cenlar Senior Vice President of Default Operations Ingrid Jaschok to Speak on Panel at MBA Servicing Solutions Conference & Expo (Photo: Business Wire)
    The session will discuss the numerous risks and challenges associated with protecting and preserving our nation’s most prized assets, residential housing, which could impact future homeownership and fulfillment.
  • As SVP of Default Operations, Ingrid oversees all of Cenlar’s business segments within the default servicing portfolio including early and late-stage default.
  • Prior to joining Cenlar, Ingrid was Senior Director and Senior Vice President of Default Servicing at Flagstar Bank.
  • Before Citibank, Ingrid was Executive Vice President of online auction operations at Auction.com where she managed merchandising to transaction servicing processing.

Peachtree Group Approaches $750 Million in CPACE Financing

Retrieved on: 
Monday, January 29, 2024

In December, Peachtree Group achieved a significant milestone by securing $150 million in Commercial PACE (CPACE) financing, approaching $0.75 billion completed since its inception in 2019.

Key Points: 
  • In December, Peachtree Group achieved a significant milestone by securing $150 million in Commercial PACE (CPACE) financing, approaching $0.75 billion completed since its inception in 2019.
  • For the year, Peachtree Group completed 23 commercial property assessed clean energy financing transactions across the U.S. for a total of approximately $250 million in directly originated and balance-sheet funded CPACE financing.
  • View the full release here: https://www.businesswire.com/news/home/20240129381284/en/
    In December, Peachtree Group achieved a significant milestone by securing $150 million in Commercial PACE (CPACE) financing, approaching $0.75 billion completed since its inception in 2019, including for the Thompson, Palm Springs, Calif. (rendering pictured).
  • “CPACE has been a game-changer by offering a unique advantage over other forms of financing with its long-term, fixed-rate financing that lowers the project's cost of capital,” Schlosser said.

Dynex Capital, Inc. Mourns Passing of Board Member David H. Stevens

Retrieved on: 
Wednesday, January 17, 2024

Dynex Capital, Inc. (NYSE: DX) (the “Company”) today announced with great sadness the passing of David H. Stevens, a member of its Board of Directors.

Key Points: 
  • Dynex Capital, Inc. (NYSE: DX) (the “Company”) today announced with great sadness the passing of David H. Stevens, a member of its Board of Directors.
  • Mr. Stevens served on the Dynex Capital Board of Directors since January 2019, and led a spectacular career in the real estate and mortgage banking industries.
  • "Dave’s knowledge, collaboration, and dedication to our Board played an integral role in our growth and success.
  • He also helped provide affordable housing opportunities for families during his time as Senior Vice President of Freddie Mac’s Single-Family Business.

Freedom Mortgage Wraps Up a Solid 2023

Retrieved on: 
Monday, January 22, 2024

BOCA RATON, Fla., Jan. 22, 2024 /PRNewswire/ -- Freedom Mortgage, one of the largest full-service independent mortgage companies, and a top VA and top Federal Housing Administration (FHA) (government-insured) lender in the U.S., had a solid 2023, helping nearly 80,000 borrowers secure financing for their most important asset—their homes.

Key Points: 
  • Last year, Freedom Mortgage helped over 50,000 borrowers successfully achieve a better financial position through loan modifications or partial claims.
  • Middleman commended Freedom Mortgage employees for their generosity and dedication to supporting multiple charitable organizations throughout 2023, including programs for veterans, service members, and their families.
  • Additionally, through donations from entries in the Freedom Mortgage Celebrate Freedom Award contest and employees' payroll deduction, over $30,000 was raised for Feeding America.
  • One of the nation's largest independent mortgage companies, Freedom Mortgage is committed to fostering homeownership and financial betterment across the country.

Falling Mortgage Rates Spark Increase in Housing Market Potential, According to First American Data & Analytics’ Potential Home Sales Model

Retrieved on: 
Monday, December 18, 2023

The Potential Home Sales Model measures what the healthy market level of home sales should be based on economic, demographic and housing market fundamentals.

Key Points: 
  • The Potential Home Sales Model measures what the healthy market level of home sales should be based on economic, demographic and housing market fundamentals.
  • The market potential for existing-home sales increased 1.5 percent compared with a year ago, a gain of 80,000 (SAAR) sales.
  • Currently, potential existing-home sales is 1,486,400 (SAAR), or 21.9 percent, below the peak of market potential, which occurred in April 2006.
  • “One way to project whether lower mortgage rates will result in a boost in sales is by tracking mortgage applications.