Housing Wire

APRIL 9, 2024

Modern-day redlining persists, and it’s costing lenders millions in legal fees. Recently, the Department of Justice (DOJ) has taken a strong stance on redlining, taking direct legal action against bad actors and thrusting the topic into the national spotlight. The future of the mortgage industry is increasingly diverse.

Modernization 445

Modernization Lending Legal Legal Fees 445

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.”

Brokerage 403

Brokerage Realty Real Estate Loan Officers 403

Housing Wire

APRIL 24, 2023

United Wholesale Mortgage (UWM) has moved to dismiss an amended counterclaim filed by broker shop America’s MoneyLine (AML) that accuses the lender of antitrust practices regarding the “ultimatum” it imposed two years ago. A spokesperson for UWM said the company had no comment. Any broker who did so would face fines.

Legal 403

Legal Law Retail Brokerage 403

Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 million class action lawsuit to resolve claims surrounding a 2020 data breach. The news was first reported by legal website Top Class Action.

Legal 370

Legal Technology Insurance Lending 370

Housing Wire

SEPTEMBER 17, 2024

The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. Taylor Stork , the president of CHLA and the chief operating officer of Developer’s Mortgage Co.

Property Taxes 417

Property Taxes Government Legal Insurance 417

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries.

Loan Officers 417

Loan Officers Real Estate Legal Lending 417

Housing Wire

APRIL 22, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. ” In 2021, Blend processed more than 1.8

Marketing 403

Marketing Mortgage Human Resources Clients 403

Housing Wire

NOVEMBER 7, 2022

Executives at the mortgage lender announced their decision in a letter sent on Wednesday to business partners and employees, which was reviewed by HousingWire. According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. and Sprout Mortgage.

Lending 441

Lending Investors Business Mortgage 441

Housing Wire

OCTOBER 18, 2022

A recent lawsuit claims Sprout Mortgage left its warehouse lender FirstFunding holding over $220 million of its debt when the mortgage lender abruptly closed on July 6. Sprout was founded in 2009 by industry veteran Michael Strauss and became “one of the fastest growing non-QM lenders in the country,” according to the lawsuit.

Contracts 388

Contracts Law Legal Mortgage 388

Housing Wire

FEBRUARY 6, 2023

Last month, PrimeLending sued competitor First Community Mortgage, Inc. Dybvad’s professional career began in 1988 with her role as a mortgage originator at Savings of America. “She brings her high energy and optimism to work every day, inspiring all around her to achieve their very best.”

Legal 386

Legal Mortgage Lending Buyers 386

Housing Wire

FEBRUARY 4, 2021

This would be a premium of 51% to CoreLogic’s unaffected share price as of June 25, 2020. Strategies lenders should adopt from direct to consumer lending. Join expert panelists to learn how the pandemic is ushering in a new era of digital lending and leading to the formation of a hybrid lending model. Sign up here.

Legal 468

Legal Investors Lending Finance 468

Housing Wire

APRIL 4, 2023

Steve Simpson, a senior attorney at Pacific Legal Foundation who represents Townstone and Sturner, wrote to HousingWire, “We look forward to the opportunity to establish on appeal that CFPB went far beyond its statutory authority in the Townstone case.” The lawsuit brought to light comments made by Sturner on a radio show.

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Advertising Legal Retail Lending 403

Housing Wire

APRIL 6, 2021

eNotes contain the same information as a traditional mortgage note – on paper – but they are created, signed and stored digitally. Officials said 11 federal home loan banks set servicing system requirements relating to eSignatures and eNote documentation in early 2020 – the culmination of three years of development.

Mortgage 362

Mortgage Legal Fees Law Legal 362

Housing Wire

MAY 24, 2021

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. Presented by: Sagent Lending Technologies. When we launched Stavvy in late 2019, we had no idea what was in store for the world in 2020. The funding caps a period of intense growth period for Stavvy.

Technology 430

Technology Lending Investors Modernization 430

Housing Wire

JULY 14, 2022

Cuts also hit operations, risk and compliance, legal, finance, business operations and marketing teams, according to a presentation held on Wednesday afternoon. . Kiavi, which rebranded from Lending Home in November, ranked as the top short-term lender in the fix-and-flip space in 2021, with $2.7

Human Resources 403

Human Resources Construction Investors Legal 403

Housing Wire

OCTOBER 29, 2021

The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. a legal defense nonprofit. He also had a stint as director at the Center for Responsible Lending.

Lending 388

Lending Law Legal Mortgage 388

Housing Wire

OCTOBER 18, 2022

Racial Equity Accelerator for Homeownership, a collaboration between Urban Institute and Federal Home Loan Bank (FHLB) of San Francisco , on Monday released a report that examines how the adoption of alternative data can benefit Black households within the mortgage lending landscape. FICO’s failures. ” On-time payments.

Lending 430

Lending Mortgage Legal Design 430

Housing Wire

DECEMBER 9, 2020

Together with HW Media brands HousingWire and FinLedger, the company will reach over 11 million real estate, mortgage and fintech professionals each year. mortgage and housing markets and serves an audience of lending, servicing, investment and real estate market participants. About HW Media. million unique visitors each month.

Real Estate 539

Real Estate Brokerage Legal Real Estate Agent 539

Housing Wire

DECEMBER 9, 2021

A 2021 Tech100 Mortgage honoree, Stavvy is helping organizations navigate complex financial and legal transactions easily and safely, allowing servicers to put customer experience at the forefront during tough times like a global pandemic. “In HousingWire: The lending process has long been described as “fragmented.”

Technology 403

Technology Legal Tools Clients 403

Housing Wire

JULY 7, 2021

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM).

Mortgage 403

Mortgage Property Taxes Insurance Business 403

Housing Wire

FEBRUARY 8, 2022

Goldstone is an executive at a mortgage servicer company trying to reach out to homeowners. “We But we’re having a hard time reaching out to them,” he said during a panel at the annual Residential Mortgage Servicing Rights Forum held in New York City in October. We know who the borrowers are. We service their loans. of the U.S.

Law 370

Law Mortgage Legal Finance 370

Housing Wire

FEBRUARY 5, 2024

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. In 2020, it originated $8.5 2 in a U.S.

Retail 430

Retail Contracts Loan Officers Mortgage 430

Housing Wire

JANUARY 24, 2022

“Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote. Up until 2020, Park said the Appraisal Subcommittee provided grant funding to the Appraisal Foundation — in the ballpark of $1.4

Government 370

Government Appraisal Reconsideration of Value Lending 370

Appraisal Today

NOVEMBER 24, 2023

The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. During the refinance boom of the early 2020’s, the majority of appraisers did not have time to come up for air. Why would you want to?

Appraisal 78

Appraisal Mortgage Business Contracts 78

PennyMac

APRIL 2, 2020

Though it’s possible to buy a home with cash, most homebuyers do so with the help of a mortgage. There are various types of mortgages available, with different interest rates, down payment amounts, and other terms to consider. Step 3: Get Pre-Approved for Your Mortgage. Is Homeowners Insurance Legally Required?

Real Estate Agent 36

Real Estate Agent Inspection Sellers Real Estate 36

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. Based on our read of 2021 Home Mortgage Disclosure Act (HMDA) data, we estimate that total originations volume last year was $4.4 Source: Mortgage Bankers Association. in the third quarter of 2020.

Lending 388

Lending Mortgage Real Estate Loan Officers 388

Housing Wire

FEBRUARY 14, 2022

Heidi brings deep expertise in areas across the legal spectrum, including in mortgage lending, servicing, credit access and regulatory matters, among others,” said Michael DeVito, CEO of Freddie Mac. “I Weiss was the fifth-highest earning named executive officer at Freddie Mac in 2021, with a total compensation of $2.3

Legal 370

Legal Law Lending Development 370

Housing Wire

SEPTEMBER 23, 2021

A former executive at loanDepot dropped a bombshell on the mortgage industry late Wednesday, alleging in a lawsuit that the California-based nonbank lender, in a ploy to drum up money during the refi boom and in preparation for its initial public offering, closed thousands of loans without proper documentation. billion in loans in 2020.

Retail 102

Retail Development Law Mortgage 102

Housing Wire

SEPTEMBER 30, 2020

Today, Ocwen Financial Corporation is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. On the originations side, we’ve built a scalable, multi-channel lending platform that has grown volume by 16X in just the past year.

Mortgage 370

Mortgage Investors Business Human Resources 370

Housing Wire

APRIL 27, 2021

The Consumer Financial Protection Bureau formally delayed the mandatory compliance date of the General Qualified Mortgage final rule – better known as the QM rule – from July 1, 2021 to October 1, 2022 on Tuesday. We firmly believe that reopening the 2020 General QM Rule would not be in the public interest.”

Finance 370

Finance Legal Realty Mortgage 370

Housing Wire

OCTOBER 6, 2023

Top advocates for the wholesale channel criticized the increased volume of loan buybacks from government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac amid a shrinking mortgage market. This is a “survivability conversation,” said Katie Sweeney , chairman and CEO of the Association of Independent Mortgage Experts (AIME).

Government 468

Government Mortgage Marketing Legal 468

Housing Wire

MARCH 7, 2022

million in 2020 to $24.9 The NFT representing ownership of an LLC representing ownership of a house is 100% legally meaningless. between signing a contract to buy a home and purchase closing is 50 days, according to a September 2021 report from ICE Mortgage Technology. Meanwhile, all parties had another issue to deal with.

Real Estate 493

Real Estate Law Inspection Agents 493

Housing Wire

MAY 25, 2021

Modernization will either take root and flourish throughout every branch of the mortgage industry, or our industry could miss a critical window to introduce meaningful reforms. In 2020, the use of “blind” appraisal waivers reached staggering, record highs. Poor data visibility. And appraisal waivers would be informed, not blind.

Appraisal 370

Appraisal Valuation Real Estate Modernization 370

Housing Wire

APRIL 20, 2021

January really is a bridge,” he told Wells Fargo ‘s Kristy Fercho , chair-elect of the Mortgage Bankers Association , at the trade group’s spring conference. million in the middle of May 2020, and he expects them to trickle down to about 300,000 around September 2021. Those forbearances peaked at 2.1

Finance 530

Finance Investing Lending Legal 530

Housing Wire

DECEMBER 15, 2022

The repurchase-request volume, which includes both depository lenders and nonbanks, is being driven up this year by the huge volume of lower-rate loans made in 2020 and 2021 that Fannie and Freddie are continuing to vet for loan-sale representations and warranties violations. And it just might push some smaller lenders over the cliff.

Law 370

Law Mortgage Lending Clients 370

Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. In some ways, 2023 was the year of the homebuilder. There wasn’t much competition from existing homeowners.

Construction 460

Construction Supply Chain Inventory Housing Market 460

Housing Wire

MARCH 11, 2021

The Consumer Financial Protection Bureau (CFPB) announced Tuesday it will be watching out for any potential lending discrimination based on sexual orientation or gender identity, vowing to protect LGBTQ borrowers. The clarification follows a landmark decision made in the June 15, 2020, court case Bostock v.

Lending 430

Lending Legal Mortgage Real Estate 430