Biniam Gebre, the former acting commissioner of the Federal Housing Administration, is joining Accenture, the company announced this week. Gebre served as acting commission of the FHA until March 2015, when senior Department of Housing and Urban Development advisor Edward Golding took over at the FHA. Advertisements
American Pacific Mortgage filed a lawsuit in federal court this week against Aspen Specialty Insurance Company, claiming that the insurance company is refusing to cover a claim filed after a hacker impersonated the mortgage company’s former CEO and stole more than $75,000 from the company.
An Employee Stock Ownership Plan, ESOP, isn’t new to the finance world. Companies across all industries take advantage of ESOPs. But while the idea dates back, Gellert Dornay, president and CEO of Axia Home Loans, which became 100% owned by its employees back in September 2016, gave a unique perspective on how this type of… Continue reading Are Employee Stock Ownership Plans the key to healthier mortgage finance companies?
At the beginning of his presidency, President Donald Trump promised to bring gross domestic product up to 4% during his term. After an advanced estimate from the Atlanta Fed showed GDP will come in at an impressive 3.8% for the third quarter, Trump supporters claimed he had kept those promises. However, not everyone agrees with… Continue reading Is President Trump on track to reach his 4% GDP campaign promise?
Over the last few weeks, report after report after report after report all show the same thing – more Americans are paying the mortgages on time right now than at any time since the housing crisis, at least. Now, a new report from the Mortgage Bankers Association shows that the delinquency rate for mortgages just… Continue reading Americans haven’t been this good at paying their mortgages since 2000
After seeking industry comment back in July on a section included in the Home Mortgage Disclosure Act, the Consumer Financial Protection Bureau decided to temporarily change reporting requirements for banks and credit unions that issue home-equity lines of credit. This amended final rule also contains a number of clarifications, technical corrections, and minor changes to… Continue reading CFPB temporarily adjusts HMDA rule for community banks and credit unions
The National Association of Realtors reported a decrease in existing home sales. Economists explained the dip is due to housing inventory, however demand remains strong despite increasing home prices.