Freedom Mortgage’s Allen Middleman has been named chair of the National Association of Mortgage Brokers’ inaugural board of governors that will advise the group on opportunities regarding outreach programs and policy issues.
The MBA and others are pushing for federal regulators to go back to the drawing board on capital requirements for large banks. The regulators state that they will be flexible but defend the proposal.
When interest rates were low, escrow accounts were an afterthought in terms of MSR values. Now that interest rates are elevated, banks are seeing strong earnings from funds held in escrow accounts.
Hometown Lenders is in default on its warehouse lines, a new lawsuit alleges. Not only is the lender in trouble but so is its CEO/owner, who gave his personal guarantees on the loans.