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.
-
Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.
November 22 -
In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.
November 22 -
Freddie Mac is offering a municipal bond option for investors in its ML multifamily securitization offerings starting with its December issuance.
November 22 -
Investors bought 15.9% of U.S. homes sold in Q3, according to Redfin, a level similar to 2018 and 2019, when the share was around 14%.
November 22 -
The development is the latest in an ongoing series of initiatives the Department of Housing and Urban Development has introduced to encourage growth of the factory-built construction segment.
November 22 -
Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.
November 22