Maura Cohen Promoted To VP, Director Of Mortgage Services

Maura E. Cohen has been promoted to Vice President, Director of Mortgage Services and Consumer Lending for Centric Bank and Centric Financial Corporation, the company announced. “Helping individuals and families realize their dreams of homeownership and helping them take the first step to create generational wealth and economic stability is a real passion for me,” says Cohen. “Being part of a team that is a true partner to our mortgage clients throughout their home-buying and refinancing processes makes work a pleasure.”  She moves up from her previous role as Vice President of both areas, in which she monitored mortgage originations, processing, and settlements. During her tenure, she contributed to Centric Bank’s record-breaking loan growth. Her previous experience includes working for…

Angel Oak Opens New Branches In Carolinas, California

Non-QM lender Angel Oak Home Loans has opened five new branches in three states, the company announced. South Carolina now has three additional branches, one in Charleston, led by Ed Powell, SVP of Angel Oak Home Loans’ Consumer Direct Division; one in Columbia, led by Drew Church; and one in Cheraw, also headed by Church. The other two locations are in San Marcos, CA, led by Sean Casey, SVP and Western Regional Sales Manager, and Jacksonville, North Carolina, led by Brian Mitchell, Regional Sales Manager. Angel Oak now has 52 offices across 43 states. These five new branches add to a time of growth for the company, which opened four new offices just last month. “Angel Oak is well equipped…

Inflation Up 9.1% YOY, Largest Gain Since 1981

Inflation jumped by 9.1% YOY in June, more than analysts predicted and the largest gain since 1981, according to data released by the Labor Department today. The Consumer Price Index showed inflation rising 1.3% month-over-month, its largest jump since 2005. Predictions ahead of the data’s release forecast a 1.1% rise from May and an 8.8% increase YOY. This is the fourth consecutive month that analyst predictions fell short. Another month of skyrocketing inflation suggests that officials will be forced to continue aggressively raising interest rates.  But rate hikes have stoked fears of a recession. Strategists at Goldman Sachs recently upgraded their recession probability to 30% from 15%. “We now see recession risk as higher and more front-loaded,” Goldman Sachs Chief…