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Search resuls for: "LoanDepot"


6 mentions found


☆ A 24-year-old homebuyer whose builder paid for a lower mortgage interest rate said it was what he needed to purchase his first home
  + stars: | 2023-02-03 | by ( Alcynna Lloyd | ) www.businessinsider.com   time to read: +5 min
During the first year of his loan, Ogata will have an interest rate of 6.1% for a 30-year-fixed mortgage rate. Once the year is completed, his interest rate will climb to 7.1%. A study from John Burns Real Estate Consulting shows that as of December, 75% of US homebuilders were offering mortgage rate buydowns. "The biggest thing that triggered it was when interest rates unprecedentedly doubled in a very short amount of time," Todd told Insider. Needing a way to address the decline in affordability, Todd says a mortgage rate buydown program was naturally the best tool in their deck.
☆ Wells Fargo is retreating from the mortgage market it once led
  + stars: | 2023-01-10 | by ( Matt Egan | ) edition.cnn.com   time to read: +2 min
New York CNN —Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. Wells Fargo said it will also exit its correspondent business, which buys loans made by other lenders, and reduce the size of its mortgage servicing portfolio. The retreat will likely cause Wells Fargo to lay off at least some employees, though the bank did not announce any specifics. The move comes as Wells Fargo continues to be in trouble with regulators. In late 2017, Quicken Loans toppled Wells Fargo as America’s largest mortgage lender.
☆ Oatly, Other Deflated IPO Stocks Haunt New-Issue Market
  + stars: | 2022-12-19 | by ( Corrie Driebusch | ) www.wsj.com   time to read: 1 min
Hundreds of companies that went public when the market for initial public offerings was booming have suffered such sharp reversals that they now face a stark reality: Their shares may never recover. More than one in four of the nearly 600 companies that went public via a traditional IPO in 2020 or 2021—including oat-milk maker Oatly Group AB and online lender loanDepot Inc.—traded at less than $2 a share as of Friday’s market close, according to Dealogic data. Many companies that went public in the surge of mergers involving SPACs, or special-purpose acquisition companies, also are faring poorly.
☆ Miami Marlins promote Caroline O'Connor, making her pro baseball's second-highest ranking woman
  + stars: | 2022-11-14 | by ( Jessica Golden | ) www.cnbc.com   time to read: +2 min
The Miami Marlins will be led by two of the highest-ranking women in professional sports. The organization announced on Monday that owner Bruce Sherman is promoting Caroline O'Connor to president of business operations, effective immediately. The move makes the Marlins the first pro sports team to have women operating the entirety of the team's day-to-day business. In 2020, the team hired Kim Ng as the first female general manager in Major League Baseball history, making her the league's highest-ranking woman in baseball operations. The Marlins were MLB Wild Card Champions in 2020 but have failed to make the playoffs the past two seasons.
☆ Don Mattingly will not return to Marlins in 2023
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +2 min
Sep 19, 2022; Miami, Florida, USA; Miami Marlins manager Don Mattingly (8) watches from the dugout during the first inning against the Chicago Cubs at loanDepot Park. Mandatory Credit: Sam Navarro-USA TODAY SportsSeptember 25 - Don Mattingly will not return as the manager of the Miami Marlins for the 2023 season. Mattingly and the Marlins mutually agreed on the decision. "We are fortunate to have had Don Mattingly leading our team on the field over the last seven years," Marlins' principal owner Bruce Sherman said in a news release Sunday. Mattingly was named the National League Manager of the Year in 2020 after guiding the Marlins to their first postseason berth since 2003.
☆ AmEx to hire 1,500 tech staff by year-end even as recession looms
  + stars: | 2022-09-19 | by ( ) www.reuters.com   time to read: +2 min
The company has already brought in around 3,600 tech employees this year, a spokesperson for the credit card giant said in an emailed statement. Moderate inflation tends to benefit credit card companies, which charge a percentage on the dollar value of transactions as fees. read moreRegister now for FREE unlimited access to Reuters.com RegisterFears of a recession have led other financial companies to cut expenses and trim headcount. read moreThe plans were first reported by Bloomberg News, citing an interview with AmEx's Chief Information Officer Ravi Radhakrishnan. As of last year, the credit card issuer had 64,000 employees - 22,000 of whom were based in the United States.
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