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The housing industry’s disparate impact hopes

Housing Wire

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. Numerous industry stakeholders asked HUD to make some changes to the regulation to raise and further explain the threshold for disparate impact claims.

Legal 418
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Trade groups express concern to FHFA over historic credit data

Housing Wire

The VantageScore dataset that is scheduled to be made available includes information going back to 2013, which is not far enough, the groups assert. FHFA was comfortable approving VantageScore 4.0 for use by the GSEs based on limited historical data,” the letter reads.

Legal 448
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Visa, Plaid terminate $5.3 billion merger agreement

Housing Wire

We believe the combination of Visa with Plaid would have delivered significant benefits, including greater innovation for developers, financial institutions and consumers. Since its founding in 2013, Plaid has collected $309.3 million in funding.

Investors 431
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Wholesale lender OCMBC fires back at HMAC’s poaching lawsuit

Housing Wire

The HMAC lawsuit alleges that Turturro, restricted from using confidential company information for his benefit, directed $800,000 to a marketing agency to develop the Jet Mortgage brand. The document adds that Turturro joined HMAC in late 2022, becoming a “high-ranking employee” and divisional president for Jet Mortgage. dba In-House Lender.

Sellers 439
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New York City Housing Authority employees charged in sweeping bribery and extortion case

Housing Wire

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG), the New York City Department of Investigations (DOI), the U.S. The earliest alleged conduct goes back to 2013 and continued until as recently as 2023, he added. Department of Labor OIG and others, Williams said.

Contracts 448
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A complete guide to understanding pocket listings

Housing Wire

In this article, well cover the definition of a pocket listing, the pros and cons for both agents and sellers, and how to transact off-market legally and ethically. Are pocket listings legal and ethical? She developed training materials, classes, and coaching programs for her fellow introverts. Yes, when done correctly.

Sellers 397
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Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

As part of the settlement agreement, Fannie Mae will pay $53 million, $35 million of which will go toward access to credit, property rehabilitation, residential development in African American and Latino communities and fair housing education, counseling and outreach. Wells Fargo settled with NFHA over similar claims in 2013, for $39 million.