Doug Duncan is moving to Fannie Mae after serving as the Mortgage Bankers Association's chief economist for the past 15 years. Mr. Duncan will be filling Fannie's chief economist chair, which has been vacant since David Berson retired in October and became the top economist for mortgage insurer PMI. "Over the past 15 years, Doug has built a smart and talented team that has driven MBA's growth and success in the data and research field," MBA president and chief executive Jonathan Kempner said. But his expertise and counsel will be "sorely missed," Mr. Kempner added. Last year, the MBA initially downplayed the significant of rising subprime defaults and tried to calm fears that those problems would spill over to the prime mortgage market or affect the overall economy.
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A Colorado regulator earlier this year revoked the license of the appraiser responsible for the 2021 evaluation at the center of the government's suit.
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The average American must earn almost $117,000 a year in order to afford a median priced property as prices keep rising, a Bankrate analysis found.
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The Trump administration is leapfrogging the normal process by taking its fight over a district court injunction blocking efforts to shut down the Consumer Financial Protection Bureau to a federal appeals court, according to the CFPB workers' union.
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Baby boomers made up the largest share of home purchasers in 2024, as the percentage of millennial buyers declined, the National Association of Realtors found.
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Pacific Residential Mortgage discovered the ransomware incident just weeks after the successful completion of its merger with an Ohio-based lender.
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The deal is composed of 11,547 seasoned performing and reperforming loans that are first and second lien. Loan servicing includes a 180-day chargeoff feature.
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