Real Estate Broker/Agency News

American Pacific Mortgage scoops up former FAM employees

Former employees at Finance of America Mortgage LLC (FAM) are transitioning to American Pacific Mortgage (APM), as the company will shut down by the end of the year, a source with knowledge of the process told HousingWire.  Specifically, California-based APM has hired former FAM staff members in Northern California offices, the source said. The

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How can lenders reduce costs in the home equity space?

As the mortgage industry faces the realities of rising interest rates, savvy lenders are shifting gears towards the potential profitability of home equity lending. HousingWire recently spoke with Paul Harris, SVP of sales at DataVerify, about capitalizing on the home equity market with the help of automated tech solutions and

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Homestar names Gurp Bhandal EVP of national production

Mortgage lender Homestar Financial Corporation on Friday announced appointing Gurp Bhandal as executive vice president of national production. Bhandal’s professional career spans more than 20 years in financial services. Prior to HOMESTAR, he served as the executive vice president of retail production at AmeriSave Mortgage Corporation and area lending manager

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Sluggish Flagstar, NYCB merger deal clears major hurdle

More than 18 months after the planned merger was announced, Flagstar Bank and New York Community Bank on Friday received approval by the Office of the Comptroller of the Currency. The depository banks, which first announced plans 19 months ago, extended their agreement to merge from Oct. 31 to Dec.

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Pending home sales are down 31% from last year

Pending home sales continued their downward spiral in September, recording a 10.2% month-over-month decline that resulted in an index reading of 79.5, according to data released Friday by the National Association of Realtors. This is the fourth consecutive month of declines. Pending home sales have now fallen in 10 of the

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