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Rocket Mortgage wins $10 million dismissal in 2012 lawsuit

Housing Wire

A group of 2,769 West Virginian borrowers claimed in the lawsuit, which was originally filed on July 23, 2012, that Rocket Mortgage (known then as Quicken Loans ) and its insurance arm, Amrock (formerly Title Source ), were unfairly influencing home appraisal values.

Mortgage 370
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Surging for-sale inventory turns Florida into a buyer’s market

Housing Wire

At 172,209 homes, its the highest reading of any month dating to when Redfin started keeping records in 2012. Natural disasters like Hurricane Milton have caused home insurance rates to surge and many homeowners left the state as a result. According to a report from Redfin, for-sale inventory at the end of January in Florida was up 22.7%

Inventory 384
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Fairway reverse division honors longtime pro with lifetime achievement award

Housing Wire

has honored a longtime professional in its ranks with a lifetime achievement award, in recognition of his 40-year career in the mortgage banking, real estate , homebuilding and title insurance industries. The reverse mortgage division of Fairway Independent Mortgage Corp.

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TCPA modifications, set for today, struck down by appeals court

Housing Wire

The Federal Communications Commission (FCC) first established that companies and individuals sending marketing calls or texts must have prior express written consent before issuing a call or a text in 2012.

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How the National Flood Insurance Program’s recent extension provides stability for the housing market

Housing Wire

The National Flood Insurance Program’s authority to issue policies was recently extended for a full year, until September 30, 2021. This is the 16th short-term extension of the NFIP since Congress reauthorized the program in 2012 and extended it in 2017, and the one-year extension is the longest of those extensions.

Insurance 370
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Increased need for a compliance-driven insurance servicing solution

Housing Wire

With multiple organizations – such as the Consumer Finance Protection Bureau (CFPB), Fannie Mae, FEMA, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and others – guiding these regulations and outlining protocols, it is necessary but challenging to maintain compliance.

Insurance 370
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Investor home purchases are sinking, and it’s most evident in Florida

Housing Wire

Floridas real estate market has become less attractive to investors due to rising homeowner association fees and insurance costs , along with the growing risk of natural disasters. Condo purchases hit 12-year low Investor purchases of condominiums fell 13% year over year to 8,220 units the lowest level for any fourth quarter since 2012.

Investors 346