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Fairway, accused of redlining in Alabama, agrees to settle for $1.9M

Housing Wire

Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. billion in home loan production. Fairway operates in the Birmingham area under the trade name MortgageBanc , which it acquired in 2009. Garland added.

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How JVM Lending plans to expand without any loan originators

Housing Wire

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan.

Lending 418
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Cornerstone Home Lending Promotes Jay Crowell to President of National Retail Division

Appraisal Buzz

Jay Crowell has been promoted to the newly created position of president of national retail division at Cornerstone Home Lending. Crowell joined Cornerstone Home Lending in 2009 and most recently served as president of the Pacific Northwest region. million in loan volume per loan officer, according to data from Modex.

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What a 15-year market share high means for the broker industry

Housing Wire

in Q4 2023, the highest number we’ve seen since 2009. Second, nearly 20,000 loan officers moved into the wholesale channel in 2023. The broker model is not just surviving but thriving and will continue to gain market share in the lending landscape. The big question is, what caused this increase?

Retail 476
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Cornerstone Names New Head of Retail

Appraisal Buzz

Cornerstone Home Lending President–National Retail Division Jay Crowell Cornerstone Home Lending , a division of Cornerstone Capital Bank , has announced the promotion of Jay Crowell to the newly created role of President–National Retail Division. million in loan volume per loan officer, according to data from Modex.

Retail 221
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David Stevens, former FHA Commissioner and MBA President, has died

Housing Wire

Our thoughts and prayers are with Mary, his children, and the rest of his family.” A fierce advocate for the industry, Stevens became a loan officer in 1983 in Colorado, rising through the ranks of World Savings during a 16-year tenure. Stevens oversaw FHA programs for single and multifamily housing for two years.

Finance 493
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Mortgage Educators and Compliance acquired by 360training

Housing Wire

360), an online regulated training provider, acquired Mortgage Educators and Compliance (MEC), a mortgage lending training company, both companies announced this week. Approved by the Nationwide Multistate Licensing System (NMLS) since 2009, MEC specializes in online mortgage and financial services professional development.

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