Financing

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A major stockholder in a bank that failed several years ago has admitted to deceiving officials about his interest in loans made by the bank and to mortgage fraud.In 2009, Excel Bank opened a loan production office in Clayton Missouri -- leading to a dramatic increase in real estate lending [...]
Fri, Jan 05, 2018
Source: Financing
Amid a relatively weak U.S. jobs report, the number of non-bank mortgage jobs retreated for the third consecutive month.As of year-end 2017, nonfarm payroll employment stood at 147.380 million people, according to data reported Friday by the Bureau of Labor Statistics.U.S. employers added 148,000 jobs compared to the prior month, [...]
Fri, Jan 05, 2018
Source: Financing
The chief executive officer of Envoy Mortgage LTD is relinquishing his role, and an insider has been named to take his place.The Houston-based company was originally founded as First Houston Mortgage in 1997. In 2008, it became Envoy Mortgage and brought on Patrick Walden as president and CEO.Walden came from [...]
Thu, Jan 04, 2018
Source: Financing
Several macroeconomic factors have impacted, and will continue to impact, mortgage rates. Most recently, rates turned lower ahead of the jobs report.Fixed interest rates on 30-year single-family loans averaged 3.95 percent in the week ended Jan. 4, according to Freddie Mac's Primary Mortgage Market Survey.Long-term mortgage rates retreated from [...]
Thu, Jan 04, 2018
Source: Financing
Last year's issuance of private-label residential mortgage-backed securities was more than double 2016's level. Further growth is expected this year.Overall international structured-finance issuance was roughly $930 billion during 2017, coming in 39 percent higher than in 2016.This year, the growth of global structured finance volume is expected to continue -- [...]
Thu, Jan 04, 2018
Source: Financing