A continually low-interest rate climate led to borrowers refinancing at an increased rate in the first quarter, according to a new report from Freddie Mac. So, just how frequently did borrowers refinance in the first quarter?
Credit Unions are not far behind the rest of the industry when it comes to mortgage division layoffs. The Credit Union Times says firms in the space are now deciding how to handle a drop-off in refinance applications.
Wells Fargo cuts another 150 workers in the Charlotte region in North Carolina on top of the 284 employees the company said it was laying off last month. This follows the banks initiative to downsize its workforce as loan refinancing demand falls.
Layton has over 35 years of experience in financial services and as a corporate leader. He worked for nearly 30 years at JPMorgan Chase and its predecessors, starting as a trainee and rising to vice chairman and member of the three-person Office of the Chairman, retiring in 2004..
"The questions become, ‘Do the courts find a distinction between housing policy and lending, as in whether to make a loan and how you price that loan? Does the government get broader discretion than the private sector?’ ” Andreano said. “It’s not fleshed out.” Read More