National industry appointments update - 5/31/2007

Jun 03, 2007

Value Financial closes first U.S. fixed-rate reverse mortgageMortgagePress.comFixed-rate reverse mortgage Value Financial Mortgage Services Inc. has closed the first fixed-rate reverse mortgage issued in the United States, at a rate below 7 percent. According to CEO Nelson A. Locke, the borrower received more than $70,000 in cash benefits and has more equity to draw from in the future. Value Financial Mortgage Services Inc. is a reverse mortgage lender based in North Miami, Fla. For more information, call (800) 760-5363 or visit www.valuefinancial.net.

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Jun 03, 2007

People On The Move

Figure Technology Solutions Names Michael Tannenbaum New CEO

Founder and former CEO, Mike Cagney, assumes the role of executive chairman.

Figure Technology Solutions (FTS), parent company of five-days-to-close HELOC originator, Figure Lending, announced today the appointment of Michael Tannenbaum as chief executive officer (CEO) and a member of the Board of Directors. Co-founder and previous CEO of the company...

Analysis and Data

Monthly, Yearly Jump In New Home Sales In March

The growth coincides with roughly a quarter of builders saying they cut prices last month.

Sales of newly built, single-family homes in March jumped 8.8% month-over-month, reaching a seasonally adjusted annual rate of 693,000 units compared to February's revised 637,000 units, according to data released jointly today by the U.S. Census Bureau and the Department of...