Treasury Secretary Scott Bessent Named Temporary Head Of CFPB

Treasury Secretary Scott Bessent Named Temporary Head Of CFPB

Scott Bessent, the newly confirmed Treasury Secretary, has been named acting director of the Consumer Financial Protection Bureau.  Bessent replaces Rohit Chopra, who was fired by President Donald Trump, an outcome analysts expected. Chopra has headed the agency since 2021. Bessent is a billionaire hedge fund manager whose operating style is expected to benefit wealthy…

OCMBC President Arrested After Deadly Crash

OCMBC President Arrested After Deadly Crash

The president of OCMBC has been arrested after allegedly killing an elderly man while driving under the influence. Serene Rosenberg, known in the mortgage industry as Serene Vernon, has been put on administrative leave, the company announced in a press release. John Hamel, former Chief Capital Markets Officer, has assumed the permanent role of President….

Trump Promised To Lower Housing Costs “By Half,” But That’s Unlikely

Trump Promised To Lower Housing Costs “By Half,” But That’s Unlikely

Donald Trump will be sworn in for a second time today, and the mortgage industry is anxiously waiting to see how homebuyers and sellers will respond to his administration. “We will eliminate regulations that drive up housing costs, with the goal of cutting the cost of a new home in half,” he said in a…

Current Homeowners Optimistic About Buying A New Home In 2024

Current Homeowners Optimistic About Buying A New Home In 2024

High rates and soaring prices are preventing many Americans from achieving the dream of homeownership, but current homeowners are optimistic about the housing market. TD Bank surveyed nearly 2,000 homeowners across the nation and found that a majority (67%) think buying a home is still attainable, while 38% plan to buy a new house in…

Mortgage Rates Overtake Home Prices As Main Buyer Concern

Mortgage Rates Overtake Home Prices As Main Buyer Concern

Consumer sentiment is stuck in the pits thanks to soaring mortgage rates. Fannie Mae’s Home Purchase Sentiment Index sank further in September, down by 2.4 points to 64.5. The full HPSI is up 3.7 points YOY, a decline from August. Five of the index’s six components fell month-over-month. The home price expectations component increased, resulting…

Michelle DeHart Joins Cenlar As VP Of Loan Operations, Escrow

Michelle DeHart Joins Cenlar As VP Of Loan Operations, Escrow

Michelle DeHart has been appointed vice president of loan operations for escrow at Cenlar FSB, company leaders announced in a press release. “I am excited to be part of the Cenlar team,” DeHart said. “My objective is to strengthen Cenlar’s escrow area by leveraging technology and automating wherever possible to enhance operational efficiencies and deliver…

Morning Roundup (4/16/2022)– Empty Desks Becoming More Common In The Mortgage Industry

Morning Roundup (4/16/2022)– Empty Desks Becoming More Common In The Mortgage Industry

Good Morning! Today is Monday, April 18. Russia is headed toward a default on its foreign debt for the first time since 1918. The World Health Organization estimates that fifteen million people have died of Covid. Police arrested a suspect in connection with a shooting Saturday at a Columbia, S.C., shopping mall that left 14 people injured….

Natural Disasters Caused $56B In Property Damage In 2021

Natural Disasters Caused $56B In Property Damage In 2021

More than 14.5 million single- and multifamily homes were impacted by natural disasters in 2021, causing an estimated $56.92 billion in property damage, according to CoreLogic’s 2021 Climate Change Catastrophe report. The report analyzed thirteen “major hazard events” of 2021– including hurricanes, tornados, wildfires, and winter storms– and 120 million residential structures in the U.S….

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