FHA

New Survey Finds Significant Lack of Understanding of Mortgage Escrow Accounts and Raises Concerns Over Expected Increases

Retrieved on: 
Thursday, February 15, 2024
Hardship, Hearing, COVID-19, FHA, Life, Insurance, Tax, Real estate

POMONA, Calif., Feb. 15, 2024 /PRNewswire/ -- A new survey from LERETA, a leading national provider of real estate tax and flood services for mortgage servicers, shows that among survey respondents that have an escrow account with their mortgage, only about one half of them completely understand how their escrow account works. This is worrisome since mortgage escrow accounts across the U.S. are likely to experience a sharp increase due to rising property taxes and increased insurance rates.

Key Points: 
  • This is worrisome since mortgage escrow accounts across the U.S. are likely to experience a sharp increase due to rising property taxes and increased insurance rates.
  • Mortgage escrow accounts are used to pay homeowners' property taxes and related insurance premiums (homeowners, flood and mortgage insurance.)
  • In light of these trends, the survey found a concerning lack of financial capacity on the part of homeowners to handle escrow increases.
  • Our goal is to help mortgage companies increase communications and educational outreach to customers about escrow accounts to help address this looming problem."

Former Senior U.S. Housing Officials Launch New Subsidiary, Gate House Compliance, To Support Fair Lending and Servicing

Retrieved on: 
Wednesday, February 14, 2024
Banking, Professional Services, White House, Federal Government, Residential Building & Real Estate, State, Local, Commercial Building & Real Estate, Construction & Property, Legal, Urban Planning, REIT, Finance, Public Policy, Government, Consulting, Private practice, Algorithm, Democrat, Fannie Mae, Gatehouse, Person, Artificial intelligence, Assistant, Republican, Risk management, Marketing, Housing, HUD, Olaf Scholz, Federal Housing Finance Agency, Senior advisor, Letter, Risk, K&L Gates, Administration, Private sector, FHA, Freddie Mac, Policy, Knowledge, Federal Housing Administration, Public, Face, Audit

Gate House Compliance has been established as a subsidiary of Gate House Strategies , an advisory company co-founded in 2021 by Montgomery and four other former HUD officials and where he serves as Chairman.

Key Points: 
  • Gate House Compliance has been established as a subsidiary of Gate House Strategies , an advisory company co-founded in 2021 by Montgomery and four other former HUD officials and where he serves as Chairman.
  • In creating the compliance subsidiary, Gate House Strategies partners are joined by other luminaries in financial services and specialists in fair lending and consumer protection law and regulation.
  • Michael Waldron is a founding partner of Gate House Compliance.
  • To provide the new advisory firm with operational and analytical support, Gate House Compliance formed an alliance with CrossCheck Compliance , a nationwide regulatory compliance and risk management consulting firm.

Forbright Bank 2023 Year in Review

Retrieved on: 
Wednesday, February 7, 2024
Professional Services, Environmental, Social and Governance (ESG), Other Professional Services, Environment, Sustainability, Finance, Banking, Partnership, American Banker, The Washington Post, Corporate finance, HUD, Real estate, Business Insider, FDIC, Commercial property, Housing, Progress, Food, Investment, Certification, FHA, Health care, Workplace, Climate Week NYC, Bank

Awards and National Recognition: Forbright Bank earned national recognition for its commitment to sustainability and unique workplace.

Key Points: 
  • Awards and National Recognition: Forbright Bank earned national recognition for its commitment to sustainability and unique workplace.
  • American Banker and the Washington Post independently named Forbright Bank as a top place to work.
  • Additionally, Forbright Bank was the first bank to receive BestCashCow’s Sustainable Bank Badge due to its commitment to financing clean energy and sustainable projects.
  • Forbright Bank is proud to have sponsored the Sustainable Investment Forum during Climate Week in New York City where Forbright leaders spoke

Evergreen Home Loans Announces Expansion into Montana, Welcoming New Branch to the Family

Retrieved on: 
Wednesday, January 31, 2024
Evergreen, USDA, Growth, Production, FHA, Real estate

This strategic move not only extends Evergreen's reach but also reinforces its commitment to making homeownership accessible and rewarding.

Key Points: 
  • This strategic move not only extends Evergreen's reach but also reinforces its commitment to making homeownership accessible and rewarding.
  • This expansion reflects Evergreen's continued effort in bringing its unique selling proposition - offering economical strategies to allow more residents the opportunity to own their own piece of Montana.
  • "We are beyond thrilled to welcome the Montana team to our Evergreen family," said Robert Lipston, Executive Vice President of Production at Evergreen Home Loans.
  • For more information about Evergreen Home Loans and the new Montana branches, please visit Evergreen Home Loans .

Elliott Mulkin Joins Cushman & Wakefield and Greystone Jointly as a Director

Retrieved on: 
Monday, January 22, 2024
Cushman & Wakefield, University, Fannie Mae, Freddie Mac, Regions Financial Corporation, MBA, TCU, CBRE, FHA

Mr. Mulkin sits with Cushman & Wakefield’s Sunbelt Multifamily Advisory Group, which has a team based out of Birmingham, and reports to Greystone’s Senior Managing Directors Charlie Mentzer and Brad Waite in Atlanta, who joined in 2023.

Key Points: 
  • Mr. Mulkin sits with Cushman & Wakefield’s Sunbelt Multifamily Advisory Group, which has a team based out of Birmingham, and reports to Greystone’s Senior Managing Directors Charlie Mentzer and Brad Waite in Atlanta, who joined in 2023.
  • Previously, Mr. Mulkin worked at Regions Bank as a Vice President in their Real Estate Capital Markets group where he served as the agency originator for Mid-America.
  • Elliott holds a Bachelor’s degree from TCU and an MBA with a concentration in finance from the University of Alabama.
  • “I look forward to working with Charlie, Brad, and the larger Greystone team, as well as leveraging our relationship with Cushman & Wakefield in order to optimize the service level I can provide to clients,” added Mr. Mulkin.

Non-QM Industry Veteran Samuel Bjelac Returns to Carrington Mortgage Services

Retrieved on: 
Thursday, January 25, 2024
Finance, Banking, Professional Services, Residential Building & Real Estate, Construction & Property, Broker, TPO, Divisional patent application, Multimedia, USDA, EVP, Correspondent, CMS, FHA, Organization, SVP, Real estate

Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide.

Key Points: 
  • Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings and services direct to consumers, investors, mortgage brokers and mortgage bankers nationwide.
  • (Photo: Business Wire)
    Bjelac, who previously served as Divisional Vice President of the Carrington Mortgage Services Wholesale Lending team, has rejoined CMS as SVP, National Sales, TPO (third-party origination).
  • “Samuel brings more than 20 years of mortgage experience to Carrington,” said Greg Austin, EVP, Lending for CMS.
  • Carrington is in a unique position to leverage its capital partner relationships and professional services to create winning solutions for mortgage brokers and their customers.

HOME-SELLING PROFITS DROP IN 2023 FOR FIRST TIME IN OVER A DECADE AMID MODEST PRICE GAINS

Retrieved on: 
Thursday, January 25, 2024
Statistics, Great, Employment, Report, Metro, Housing, Baton Rouge, Louisiana, Sale, Pressure, FHA, Global recession, The Spring, Federal Housing Administration, ROI, Real estate

IRVINE, Calif., Jan. 25, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property and real estate data, today released its Year-End 2023 U.S. Home Sales Report, which shows that home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment.

Key Points: 
  • That happened as the median nationwide home price rose at the smallest annual pace in more than a decade.
  • "But the market definitely softened amid modest price gains that weren't enough to push profits up higher after a long run of improvements.
  • The U.S. median home price increased 2.1 percent from 2022 to 2023, reaching another all-time annual high of $335,000.
  • The full-year median home-price appreciation slowed down as interest rates rose in 2023 close to 8 percent for a 30-year mortgage.

Freedom Mortgage Wraps Up a Solid 2023

Retrieved on: 
Monday, January 22, 2024
Dream, Freedom, Toys for Tots, Meal, Hunger, CHOP, Hospital, Social media, Partnership, Housing, Reservist, Children's Hospital of Philadelphia, Friends, Einstein Medical Center Philadelphia, United Service Organizations, Comment, Mortgage Bankers Association, Veteran, Freedom from Hunger, National Guard, Toy, FHA, Backpack, South China Sea raid, Hospice and palliative medicine, The Salvation Army, Feeding America, Federal Housing Administration, USO, Real estate

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.

Ameris Bank Launches Ameris Choice Home Mortgage Lending Program

Retrieved on: 
Thursday, January 18, 2024
Clay, Ameris Bancorp, FHA

ATLANTA, Jan. 18, 2024 /PRNewswire/ -- Ameris Bank announced the launch of the Ameris Choice program, providing qualified applicants in the Jacksonville, Florida area up to $20,000 in assistance to purchase or refinance a home. Ameris Choice is the newest addition to the bank's suite of programs designed to support opportunities for homeownership in the communities it serves. Ameris previously launched the Ameris Down Payment Grant Program in August 2022.

Key Points: 
  • ATLANTA, Jan. 18, 2024 /PRNewswire/ -- Ameris Bank announced the launch of the Ameris Choice program, providing qualified applicants in the Jacksonville, Florida area up to $20,000 in assistance to purchase or refinance a home.
  • Ameris Choice is the newest addition to the bank's suite of programs designed to support opportunities for homeownership in the communities it serves.
  • Ameris previously launched the Ameris Down Payment Grant Program in August 2022.
  • "Ameris Choice underscores our commitment to providing equitable opportunities to home buyers in the Jacksonville area," said Palmer Proctor, CEO of Ameris.

Summit Funding Inc. Gears Up for Future Growth with Veteran Mortgage Marketing Leader Trey Rigdon at the Helm

Retrieved on: 
Tuesday, January 16, 2024
Multimedia, Culture, Summit, USDA, Movement, FHA, Creativity, Marketing, DPA, EVP, Education, Growth, Real estate

With a remarkable 15-year tenure in the mortgage and financial services industries, Rigdon is celebrated for his exceptional leadership and innovative strategies at companies like Wyndham Capital Mortgage and Movement Mortgage.

Key Points: 
  • With a remarkable 15-year tenure in the mortgage and financial services industries, Rigdon is celebrated for his exceptional leadership and innovative strategies at companies like Wyndham Capital Mortgage and Movement Mortgage.
  • He spearheaded a complete brand overhaul, emphasizing Wyndham Capital's commitment to financial technology, thus branding the company as a premier fintech mortgage lender.
  • "Bringing Trey into our team is a pivotal move to leverage the opportunities in the evolving mortgage market," said Robyn LaVassaur, EVP of Sales at Summit Funding.
  • Summit Funding is poised to harness Rigdon's extensive experience to enhance its market position and provide unparalleled support to its Loan Officers.