Articles by Jeremiah Jensen

Bainbridge Companies hires five new executives to position for growth

Bainbridge says it expects significant growth in East Coast operations over next 3 to 5 years
Luxury multifamily firm Bainbridge Companies, recently hired five members to its executive team in support of its growth initiatives in the Mid-Atlantic region. As the single-family industry struggles to prop up sagging originations and fight low inventory, resulting in a tough season full of layoffs, the multifamily industry appears to be running strong. The ability of firms to hire for growth is a good indicator that things are going swimmingly in the multifamily industry.
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Class Appraisal names Gary Ferguson as its new CTO

Ferguson will lead Class Appraisal's new tech development efforts
Class Appraisal named Gary Ferguson as its chief technology officer to spearhead its pursuit of tech solutions. Ferguson has 20 years of experience in enterprise application development and has spent most of his career in the mortgage industry. Prior to joining Class Appraisal, Ferguson was CTO at Centric Technology Solutions.
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BMO Harris confirms face-to-face mortgage employee layoffs

The bank is consolidating behind a call-center strategy, could eliminate 170 jobs
BMO Harris recently confirmed that it is indeed cutting back its face-to-face mortgage operations with a round of layoffs. According to The Chicago Tribune, the company still won’t put a number on the amount of jobs it will eliminate but the Milwaukee Journal Sentinel said it could be 170 jobs based on an internal document it reviewed when the news of the cuts first broke.
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Taylor Morrison Home Funding integrates LodeStar tech

The mortgage division of the homebuilder can now issue fast, accurate quotes in all 50 states
Taylor Morrison Home Funding integrated with LodeStar Software Solutions to quickly and accurately quote closing costs on new-home construction properties. Under the new partnership, Taylor Morrison Home Funding employees can obtain quotes instantly through Ellie Mae’s Encompass digital mortgage solution.
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Washington Post: HUD staffer shuffled to new agency, confusion and suspicion reigns

In a surprise move, HUD Assistant Secretary Suzanne Israel Tufts has joined the Interior Department as acting inspector general
In a highly unusual move, U.S. Department of Housing and Urban Development Assistant Secretary Suzanne Israel Tufts was moved to the Interior Department to serve as acting inspector general overseeing four investigations into Secretary Ryan Zinke’s conduct.
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AFR Wholesale announces partnership with Floify

New partnership could reduce loan processing time by 15 hours per loan
AFR Wholesale and Floify announced Wednesday both companies shook hands on a partnership, and AFR will now use Floify’s point-of-sale technology. AFR’s goal in partnering with Floify is to reduce origination time and increase broker productivity.
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Former Equifax manager sentenced to eight months house arrest for insider trading

Fined $50,000 and forced to forfeit $75,979 for taking advantage of knowledge of the Equifax breach
Former Equifax Manager Sudhakar Reddy Bonthu was just sentenced to eight months house arrest following his guilty plea admitting he used non-public information to profit off of the credit reporting agency’s massive data breach. Last year, just before Equifax announced that it had exposed the data of more than 148 million American consumers to hackers, Bonthu bought 86 “put” options in Equifax stock that expired on September 15, 2017, ahead of the subsequent drop in Equifax’s stock value in the wake of the breach.
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6 Questions with 6 HUD Executives, Ep. 5: Assistant Secretary Anna Maria Farias

Farias talks about her motivations, taking down corruption and the real reason HUD went after Facebook
Anna Maria Farias shares a special bond with Department of Housing and Urban Development Secretary Ben Carson. Farias also grew up in public housing. She, like Carson, fought hard to achieve a greatness unparalleled. Farias was the child of a single parent who struggled to make ends meet, and she witnessed first-hand the discrimination and harassment her mother faced daily.
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Joel Kan: 3% to 4% growth predicted for the purchase market

Refinance market still slated to struggle
The purchase market is due for a rebound, according to Joel Kan, MBA associate VP of industry surveys and forecasts. Kan told members of the audience in a Q&A session at MBA Annual that current macroeconomic trends should create a swell for the purchase market – good news for the flagging mortgage market.
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