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A&D Mortgage names new servicing manager

Housing Wire

Florida -based wholesale lender A&D Mortgage appointed Satish Vishwakarma to the role of servicing manager, the company announced on Tuesday. In this new role, Vishwakarma will be responsible for overseeing the day-to-day operations of the mortgage servicing department.

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U.S. mortgage delinquency rates remain near historic lows: CoreLogic 

Housing Wire

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5%

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DOJ charges one of America’s top LOs in alleged mortgage fraud scheme

Housing Wire

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. The alleged scheme misled lenders about the “true intended use of the properties,” and “Gallo and Elmas secured and profited from mortgage loans that were approved at lower interest rates,” the DOJ claimed.

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BofA’s mortgage production falls in Q1

Housing Wire

Bank of America (BofA) reported another quarterly decline in mortgage and home equity production in the first quarter of 2024. mortgage lender stated it produced a volume of $3.4 billion in first mortgages from January to March, down 12.5% BofA’s mortgage assets Bank of America had $227.7 from the $3.9

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In its war on ‘junk fees,’ CFPB targets mortgage servicing

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a new edition of its Supervisory Highlights publication, which includes the agency’s actions to combat what it calls “ junk fees charged by mortgage servicers , as well as other illegal practices.”

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First Federal Bank to acquire Watson Mortgage Corp.

Housing Wire

Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., expanding its mortgage retail lending footprint in the communities in which it operates. Last year, the community bank originated about $435 million in mortgage volume, per mortgage data platform Modex.

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Industry vet launches new mortgage CE company, MLO Force

Housing Wire

Nathan Knottingham, COO at Vetted VA , announced the launch of a new mortgage continuing education provider, MLO Force , from the stage at HousingWire’s The Gathering this week. When I tell my friends and family that I produce mortgage continuing education for a living, they often assume it’s a boring job,” Jones said. “But

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