Mortgage Bankers Association president Jonathan L. Kempner is resigning from the trade group effective at the end of the year and will be replaced by industry veteran John Courson. During the mortgage crisis, the trade group has seen both its membership and its revenues decline. It has also been hurt by its investment in a new Washington office building that became its headquarters this spring. With the commercial real estate market softening, the MBA has had difficulty leasing other floors in the building. Mr. Courson's company, Central Pacific Mortgage, Folsom, Calif., collapsed early in 2007 after being margin-called by its warehouse lenders. Mr. Courson founded CPM, a nondepository, in 1977. At its peak, CPM was table-funding about $180 million a month.
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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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