loanDepot announced an expansion of its executive leadership team with the creation of two new positions, appointing Eric Gutierrez as its executive vice president of marketing, and Pat Flanagan as executive vice president of Next Generation Lending. Both will report to CEO Anthony Hsieh.
On Thursday, the Federal Reserve announced the results of the annual stress testing, which showed that all 34 participating financial institutions are adequately capitalized and could withstand a “severe recession.” It’s the second year in a row that all of the participating banks passed the stress test.
More than 20 of the housing industry’s largest trade groups are calling on Congress to enact legislation that would change the leadership structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission. The groups say that a bipartisan commission would help provide a “balanced” approach to financial regulation and supervision.
The Puerto Rican foreclosure crisis is currently worse than the U.S. foreclosure crisis at its peak in 2010. As the economy worsens, residents continue to flee the island, flooding into Texas and Florida. Some homeowners even leave their keys in their home, abandoning everything on their way out.
VHT, a real estate photography company, was all set to receive $8.32 million in damages from Zillow Group after a jury found that images from VHT appeared on the Zillow Digs site without VHT’s consent, but that’s not the case anymore. This week, a judge cut the original $8.32 million award in half because there… Continue reading Zillow will now pay $4 million to VHT after judge chops jury award in half
Currier will oversee retail administration, project management, sales technology, training and development for the independent mortgage lender.
The U.S. isn’t the only country seeing high rental prices. A new study from RentCafé showed the five most unaffordable cities in the world among top emerging or striving economies based on median income for the area. Even in cities where the median income is very high, it’s still not always enough to keep up… Continue reading Here are the top 5 most unaffordable cities in the world