Items Tagged with 'mortgage lender'


  • CrossCountry Mortgage expands by acquiring bemortgage and PERL Mortgage

    Lending companies will operate under CrossCountry umbrella
    CrossCountry Mortgage, a mortgage lender based in Ohio, is expanding its operations, announcing this week that it has acquired both bemortgage and PERL Mortgage. bemortgage launched in 2017 as a division of Bridgeview Bank Group, but the company moved last year to become a division of CrossCountry Mortgage. CrossCountry acquired PERL Mortgage more recently, closing on the deal in March 2019.
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  • Capital Bank launches Capital Bank Home Loans

    Rebrands mortgage business from Church Street Mortgage
    Capital Bank, a Maryland-based bank that operates in and around the Washington, D.C., Northern Virginia, and Baltimore areas, is rebranding its mortgage business and launching Capital Bank Home Loans. Previously, the company’s mortgage operation was called Church Street Mortgage.
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  • Mortgage lenders: Demand for refinances falls to three-year low

    Fannie Mae report shows bleak outlook for refinances amid rising rates
    Mortgage lenders are reporting that the demand for refinances is at a three-year low, driven by rising interest rates. The news comes courtesy of Fannie Mae’s second quarter 2018 Mortgage Lender Sentiment Survey, which also shows that increasing home prices and low housing supply continue to threaten mortgage demand.
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  • HarborOne Bank spins off Merrimack Mortgage business, founds HarborOne Mortgage

    Combines internal mortgage operation with Merrimack Mortgage
    Back in 2015, HarborOne Bank, a Massachusetts-based bank, boosted its mortgage business by acquiring Merrimack Mortgage Company, a privately held mortgage originator based in New Hampshire. Now, HarborOne is combining its internal mortgage operation with Merrimack Mortgage and establishing a new mortgage business, which will be called HarborOne Mortgage.
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  • Fannie Mae now allowing lenders to contribute to borrower closing costs

    Funds must be a gift and cannot be used toward down payment
    While it’s not quite the same as the down payment assistance that the government-sponsored enterprises used to allow, lenders now have a new way to help borrowers buy a home – closing cost assistance. Fannie Mae announced this week that it will now allow lenders to contribute to borrowers’ closing costs, as long as the money is a gift and is not used towards a borrower’s down payment. Click the headline to read more.
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  • Hey mortgage lenders! Do you know why we have an FHA commissioner?

    History lesson on why it’s difficult to get someone in that position
    [Op-ed] Chances are, as mortgage lenders, you have heard some discussion in recent months about the Federal Housing Administration commissioner (or the lack of one) at HUD. So, what, exactly, is an FHA commissioner and why is it so difficult to get someone into that position?
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  • Thousands of mortgage lending jobs at risk as refis drop

    Refinances prepare for lowest level since 2000
    Thousands of lending jobs are now at risk as the number of refinances continue to fall, threatening to sink to their lowest level since 2000. One expert said overall mortgage originations could see a decrease of 15% to 20%, leading to a job loss of about 10% within the mortgage industry.
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  • Reverse mortgage lender AAG expanding into traditional mortgage lending

    Plans growth throughout 2018
    American Advisors Group is one of the nation’s largest reverse mortgage lenders, but now, the company is expanding into traditional forward mortgage lending as well. According to AAG, it began piloting forward lending in 2017, and the company is now ready to roll out forward mortgages on a large scale.
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