Foreclosures | Mortgages | Financing
In addition to a pair of C-Suite appointments, recent mortgage executive activity includes a C-Suite firing and mid-level movement.
American Pacific Mortgage has promoted Bill Lowman to chief executive officer from president, a July 29 announcement indicated.
Lowman has been with the Roseville, California-based company since 2002, while he has reportedly been in the business for 30 years.
From:: Financing
iEmergent, a forecasting and data analytics firm for the banking and mortgage lending industries, announced a new member and position at the company. Fenn Meents joins the company as its new chief growth officer. Meents knows first-hand how iEmergent operates, originally starting as a client at company. …read more
From:: Real Estate Wire
Not only did home-loan production sprint ahead at Movement Mortgage LLC, but the company’s staffing and servicing portfolio expanded.
Residential loans serviced by the Indian Land, South Carolina-based mortgage banker totaled 1,427 units for $0.284 billion as of June 30, 2016.
These details and other operational metrics were provided as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
From:: Financing
Private mortgage insurance activity rose sharply in the second quarter, grabbing the lead in market share from the Federal Housing Administration for the first time since the first quarter of 2015, according to a client note from Compass Point Research & Trading. So does that mean it’s more likely that the FHA could cut premiums again this year? …read more
From:: Real Estate Wire
A huge portfolio of mortgage servicing rights on loans backed by the Government National Mortgage Association has hit the market.
The offering is for MSRs on 13,858 Ginnie Mae residential loans that collectively have an unpaid principal balance of $3.046 billion.
All of the mortgages to be serviced in the bulk portfolio offering are fixed rate, and 100 percent of the loans are in first-lien position.
From:: Financing
Famed billionaire investor David Tepper’s Appaloosa LP hedge fund reduced its exposure to stocks by one third in the latest quarter, to $3.80 billion as of June 30 from $5.66 billion on March 31, according to regulatory filings filed late Friday. During the second quarter, the stakes of companies he sold off entirely included the 1.6 million shares of Facebook Inc. , the 7.0 million shares of Bank of America Corp. , the 2.5 million shares of Pfizer Inc. , the 945,000 shares of Valeant Pharmaceuticals International Inc. , the 8.6 million shares of Delta Air Lines Inc. and the 1.3 million shares of Cabot Oil & Gas Corp. that he owned as of March 31. The S&P 500 index rose 1.9% during the second quarter, and has gained 4.1% since then.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Nelson Peltz’s hedge fund Trian Fund Management LP made few changes in the second quarter, according to a filing with the Securities and Exchange Commission late Friday. Trian eliminated its small stake in Tiffany & Co. and 11-million-share stake in Legg Mason Inc. , while adding slightly to its stake in Bank of New York Mellon Corp. and trimming slightly its position in DuPont .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Dan Loeb’s hedge fund Third Point LLC dumped a host of positions to pick up tech picks, according to a filing with the Securities and Exchange Commission late Friday. Third Point added new positions of 3 million shares of Activision Blizzard Inc. and 3.8 million shares of Facebook Inc. . At the same time, Third Point cut its position in Alphabet Inc. , while eliminating positions in Amgen Inc. , Broadcom Ltd. , Kraft Heinz Co. , Time Warner Cable , 21st Century Fox Inc. and VMware Inc. .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
U.S. stocks ended mostly lower Friday, but still eked out small weekly gains, as weakness in shares of mining and chemical companies, along with a rise in active oil rigs, blunted an advance in the energy sector and rising oil prices. Still the Nasdaq closed at an all-time high, one session after all three benchmarks posted record closes on the same day for the first time since 1999. The S&P 500 index ended down 1.8 points, or 0.1%, at 2,183.99, weighed by sharp declines in Alcoa Inc. and Nucor Corp. and Dow Chemical Co. , followed by a 0.4% loss in the telecom sector. Three of the index’s 10 sectors ended in positive territory, with energy leading the gains, up 0.6%. The Dow Jones Industrial Average lost 37.53 points, or 0.2%, to 18,575.9, pulled down by a 1.9% drop in DuPont and a 0.9% drop in IBM Corp. but buoyed by a 1.3% gain in Exxon Mobil Corp. . Meanwhile, the Nasdaq Composite Index ended up 4.5 points, or 0.1%, at 5,232.89, an all-time closing high.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Lake Michigan Credit Union’s real estate finance business expanded — with a quarterly increase in home lending, servicing and staffing reported.
The Grand Rapids, Michigan-based organization’s mortgage servicing portfolio closed out the first-half 2016 at 53,933 loans for $8.325 billion.
That is according to data provided by the credit union in conjunction with the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
From:: Financing