Mortgage industry veteran Mark Korell has been promoted to chief executive at Hamilton Group Funding, Pace, Fla. The company said the move signals a renewed focus on its national expansion plans.
He joined the company in 2012 as chief corporate development officer. Earlier in 2012, he had been
A press release announcing his promotion lists some of the other positions Korell had held over the years, including CEO of GMAC Mortgage,
Rejections for mortgage credit outpaced almost every other borrowing category, according to the Federal Reserve Bank of New York.
Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.
Smaller players face challenges when it comes to mortgage servicing rights, and larger ones have varying motivations, experts at an industry meeting say.
The 30-year fixed rate mortgage average resumed its climb that started in September, as the benchmark 10-year Treasury price still reflects views on inflation.
Fannie Mae's latest economic forecast no longer expects mortgage rates to go below 6% next year, and that is affecting its views on loan origination volume.
Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
