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Another lender settles redlining accusations with DOJ

Housing Wire

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. The largest settlement recorded , at $25 million, was with New Jersey-based Hudson City Savings Bank in 2015.).

Law 435
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Real estate tech roundup: Shaker, zavvie and Homie

Housing Wire

“Zavvie Pro keeps the modern agent at the center of every sales transaction, no matter what the homeowner decides,” Lane Hornung, zavvie co-founder, and CEO, said in a statement. “Webuilt zavvie Pro to help the modern agent generate more seller leads, win more listings, and always earn a commission.”.

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The hybrid appraisal is here. Who benefits?

Housing Wire

The company, which employs about 17 people, was founded in 2015, and is one of those approved to provide the Freddie Mac data report for its new remote inspection program. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

Appraisal 435
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“It’s math:” How mortgage solutions companies are fighting for survival

Housing Wire

Blend brought in more than $71 million in the first three months of 2022, but more than half of its revenue came from title insurance and settlement services provider Title 365 in the challenging origination environment. Many mortgage analysts and consultants noted new tech is needed to build modern, efficient and automated processes.

Mortgage 396
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

In 2015, the family paid $250,000 for a 2,900-square-foot house in Ormond Beach, Florida. The recent experience with state distribution of rental assistance and unemployment insurance is perhaps a preview of the challenges ahead. States, overwhelmed with claims and understaffed, also had problems paying unemployment insurance.

Mortgage 415
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Appliances for FHA appraisals

Appraisal Today

Bradley, SRA, CDEI In September of 2015, FHA revised Handbook 4000.1 An Inside Look at E&O By Peter Christensen Excerpts: There is no law requiring that real estate appraisers must have professional liability insurance – or E&O insurance as it is often called – except in one state. How does the FHA define appliances?

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Appraisal Risk, Reviews, and Revisions

Appraisal Today

Lenders want fire insurance for all mortgage loans. What if there is no insurance available, very limited coverage, or only very expensive insurance? Or insurance problems for flooding, hurricanes, or other natural disasters. For example, Florida homeowners have had many problems getting flood insurance.