Linda Knight has been promoted from senior vice president and treasurer of Fannie Mae to executive vice president for capital markets.Ms. Knight joined Fannie Mae in 1982 as senior market analyst and has been SVP and treasurer since 1993, the government-sponsored enterprise said. Fannie Mae said Ms. Knight will be one of two business-unit risk officers in the Capital Markets Group, which was previously known as the Portfolio Division. The GSE also announced the promotion of three executives to positions in the Capital Markets Group: David Benson, to senior vice president and treasurer; Ramon de Castro, to senior vice president for capital markets -- mortgages; and Andrew Bon Salle, to senior vice president for capital markets -- lender channel.
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Fewer consumers applied for government-backed loans last week, with average interest rates for Federal Housing Administration loans stuck in the high 6% range.
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Broward County in Florida has the highest property tax increase since 2019, at 56.80%.
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Cases involving accusations of redlining, kickbacks, underpaid employees and more swept across the mortgage industry in recent months.
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Fees falling outside of tolerances cost the industry more than $1 million per 1,000 loans, according to an ICE Mortgage Technology study from earlier this year.
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Submit your production volume from last year to be considered among the top in your field. The deadline for submissions is Feb. 28, so don't dally!
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The Consumer Financial Protection Bureau released a proposed version of the consent order on Jan. 17 and the company involved said it was finalized that day.
January 21