Schuyler Vaughan is joining First Federal Bank of Kansas City as its Senior VP of Mortgage Banking, the bank announced in a press release.
In his new role, Vaughan will spearhead First Federal’s mortgage division with an eye toward innovative strategies for strengthening and expanding lending. He is tasked with sculpting a strong lending team and leading mortgage customer acquisition programs.
“The path to homeownership is a possibility for most, whether today or in the near future. I aim to help mortgage professionals educate and assist more customers in making that dream a reality,” said Vaughan.
“I am very excited to join an organization like First Federal Bank of Kansas City, which has always prioritized the value of homeownership.”
Vaughan…
For borrowers in the rural South, getting a mortgage is tricky.
A new analysis from the Consumer Finance Protection Bureau found that consumers in hard-to-reach areas of the South have a tough time accessing credit. Southern rural consumers apply for mortgages at the same rate as consumers nationwide – 19 applications per 1,000 residents – but are more likely to be denied, with 27% of their applications shot down compared to 11% nationally.
They also pay higher rates than borrowers in other regions, averaging 3.51% in 2021 compared to 3.12% nationally.
The rural South does have high levels of poverty, which can translate to poor credit scores. Almost half of the country’s persistent poverty counties – where 20% of the…
The Mortgage Bankers Association has once again adjusted its commercial and multifamily lending expectations downward as economic uncertainty continues to constrain the market.
MBA’s latest forecast shows commercial and multifamily borrowing falling 20% in 2023 to $654 billion, down from $816 billion in 2022.
This is a $9 billion reduction from its January prediction.
Multifamily on its own accounts for a 14% drop, slipping from $437 billion in 2022 to $375 billion this year. Apartment investment sales declined at the end of 2022 in response to the Central Bank raising interest rates.
“Higher interest rates, uncertainty about property values, and questions about the outlook for the cash flows of some properties led to a slowdown in commercial real estate transactions…
Brian Ralston has been promoted to EVP, Chief Mortgage Banking Officer at NexBank, the company announced. Ralston moves up from his former role of SVP of Mortgage Banking, which he has held since 2013. In his new position, he will lead the strategic direction of the bank’s mortgage division. Ralston remains responsible for all origination and servicing operations of the wholesale, non-delegated, and delegated correspondent channels, as well as warehouse lending. He is also the president of NexBank Title, Inc., which he helped establish. Ralston brings nearly two decades of mortgage banking experience to the role. He is a well-known industry pro who has served as a speaker and panelist at conferences covering the spectrum of mortgage lending. NexBank is…
