News

Donald Trump names JPMorgan, Blackstone CEOs to advisory board

Forum comprised of 16 CEOs
President-elect Donald Trump’s latest selection of leaders involves a new idea: the President’s Strategic and Policy Forum. The group is comprised of 16 CEOs, which includes Stephen Schwarzman, chairman, CEO, and co-founder of Blackstone, and Jamie Dimon, chairman and CEO of JPMorgan Chase.
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PrimeLending begins offering closing cost assistance nationwide

Program available for low- and moderate-income homebuyers
PrimeLending, a PlainsCapital company, will soon begin offering closing cost assistance for low- and moderate-income homebuyers nationwide. Under the program, qualified borrowers could be eligible to receive up to $1,500 or $2,000 in closing cost assistance, dependent on their income and the location of the property they want to buy.
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BofA approaching $7 billion of consumer relief in toxic mortgage settlement

Monitor says bank reaches 97% of relief obligation
Bank of America is almost finished with providing $7 billion in consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac.
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Texas homebuyers diversify in 2016

Women, first-time buyers move into market
Texas saw outstanding growth in home sales during 2016 in several areas including condo sales and new home sales. Not only are there more homebuyers in the market, but they're also a more diverse group than in previous years. International homebuyers, women and first-time homebuyers are all making their mark in Texas real estate.
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Opendoor raises $210 million, plans big expansion in 2017

Funding reportedly values online marketplace above $1 billion
Opendoor, an online marketplace that buys homes direct from homeowners, announced plans to expand beyond the two markets where it’s currently available thanks to a round of funding that reportedly values the company above $1 billion.
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[Video] What Donald Trump means for housing from UWM's CEO

"The uncertainty of the election is behind us"
Nearly one month since Donald Trump became President-elect and the industry has already witnessed several significant changes. Weighing in on the discussion from an industry executive standpoint, Mat Ishbia, president and CEO of UWM, included in his December 3 Points video his thoughts on what Trump means for the mortgage industry.
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Wells Fargo splits Chairman and CEO roles in wake of fake account scandal

Changes bylaws to ensure "independence"
In the wake of Wells Fargo’s fake account scandal, which led to the bank being fined $185 million and other significant changes at the bank, some blamed the bank’s executive structure for allowing the millions of fake accounts to go unnoticed for so long. Moving forward, one person will not be allowed to serve as both chairman and CEO of the bank, as the bank’s board of directors announced this week that it is splitting the roles.
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