Puckett will assume the role of division manager following the retirement of his predecessor, Rick Buchanan. Puckett will continue to grow the real estate lending division of First Bank & Trust Company, while managing a staff of 43 loan originators and support personnel who service the bank's geographic footprint along the I-81 corridor from Johnson City, Tenn. to Winchester, Va.Lenders report rising second-lien production as homeowners protect low first-mortgage rates
Home equity lending is growing fast, and industry executives expect it to surpass Non-QM in origination volume as soon as 2027."I think equity originations are expected to surpass NonQM originations in 2027," said Tom Davis, chief sales officer at Deephaven Mortgage.The grow...
Realtor.com reports a sharp decline in purchase activity as higher rates erode borrowing power
Home contract signings fell 17% year over year in October, reaching their lowest level for the month on record, as higher mortgage rates continued to squeeze buyers out of the purchase market, according to Realtor.com's latest housing report.The annual decline was the steepe...
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