Housing Wire

NOVEMBER 8, 2024

Side claims the defendants have breached contracts between the two parties that were extended in August 2022. The complaint states that Official Partners and the brothers agreed to pay the principal sum and interest on the loan, and that Side should be paid additional damages related to legal fees and a jury trial.

Legal Fees 367

Legal Fees Legal Real Estate Brokerage 367

Housing Wire

NOVEMBER 18, 2022

31, 2022, the Federal Housing Finance Agency (FHFA) announced that it would conduct a comprehensive review of the Federal Home Loan Bank (FHLB) system. This provision may be challenged by the affected FHLBank under legal process.

Legal 365

Legal Law Insurance Finance 365

Housing Wire

JANUARY 10, 2024

The lender asserted claims for breach of contract, fraud, unfair competition and tortious interference, among others. According to the document, the award arises from “Defendants’ breaches of their employment agreements and violations of their other legal duties during their employment in Washington.”

Legal 448

Legal Lending Contracts Mortgage 448

Housing Wire

FEBRUARY 13, 2023

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022. The dispute led to a U.S.

Contracts 373

Contracts Legal Lending Loan Officers 373

Housing Wire

MARCH 19, 2024

Plaintiff’s bald, conclusory allegation that the parties somehow ‘agreed’ to the 2022 unsigned amendment to the 2018 wholesale broker agreement as a complete and total replacement for the 2018 wholesale broker agreement in some unidentified manner is entirely implausible as a matter of law,” according to Atlantic Trust.

Mortgage 429

Mortgage Law Brokerage Legal 429

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 466

Buyers Contracts Agents Realtors 466

Housing Wire

AUGUST 8, 2023

Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. Both lenders entered into a contract with Lender Toolkit in 2021. MLD Mortgage, doing business as Money Store, posted origination volume of $906 million in 2022, according to data from mortgage tech platform Modex.

Mortgage 349

Mortgage Contracts Legal Business 349

Housing Wire

SEPTEMBER 25, 2023

The firm’s legal troubles began in late 2022 when it was sued by attorneys general in Florida , Massachusetts and Pennsylvania over its 40-year contracts. In addition, the Florida-based firm has been essentially banned from operating in 14 states through legislation.

Realty 476

Realty Real Estate Agent Legal Agents 476

Housing Wire

JUNE 29, 2023

The poaching lawsuit, filed on June 22 at a federal district court in Delaware, states that South Carolina-based Movement recruited and hired its employees in late 2021 and early 2022 to take trade secrets and confidential information. That’s not the Orange County, California-based lender’s only poaching legal battle.

Retail 447

Retail Contracts Legal Business 447

Housing Wire

OCTOBER 21, 2024

This occurred when Ginnie Mae eliminated bankrupt lender Reverse Mortgage Funding (RMF) from its HECM-backed Securities ( HMBS ) program and assumed control of the former lender’s servicing portfolio in December 2022. The contract that satisfies the statute is the Guaranty Agreement between RMF and GNMA.

Contracts 444

Contracts Law Mortgage Legal 444

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. However, on Oct. loanDepot filed the lawsuit on Oct.

Contracts 433

Contracts Legal Retail Training 433

Housing Wire

JANUARY 11, 2024

TCB’s contract with RMF and the bankruptcy court order also expressly stated that TCB’s right to a lien was subject to GNMA’s extinguishment rights.” 31, 2022, special requirements for HECM reverse mortgage loan pools, TCB’s tail agreement and documents from RMF’s bankruptcy case unfolding in the U.S.

Lending 458

Lending Government Legal Law 458

Housing Wire

JUNE 6, 2023

In February 2022, UWM sued California-based Mid Valley for violating the agreement and demanded that the broker shop pay $310,000. Mat Ishbia , UWM president and CEO, said in a statement, “It’s very unfortunate to see a company like Mid Valley breach their contract, but we’re going to continue to do what’s right for the broker community.”

Brokerage 369

Brokerage Contracts Legal Business 369

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 production volume in the first half of this year was down roughly 47% from the same period in 2022.

Loan Officers 435

Loan Officers Real Estate Legal Lending 435

Housing Wire

DECEMBER 21, 2022

A representative for CrossCountry told HousingWire, “As a matter of practice, we do not comment on legal matters.” . Finally, CrossCountry is likely to be found liable for aiding and abetting the Individual Defendants’ contractual and fiduciary violations, as well as being responsible for tortious interference with contract.”.

Legal 434

Legal Loan Officers Contracts Business 434

Housing Wire

JANUARY 4, 2023

The lender said that despite not formally renewing the contract, CAVU continued to provide the services as of September 2022. The employees’ PrimeLending contracts had non-solicitation, non-interference and confidentiality clauses, according to the lawsuit.

Loan Officers 482

Loan Officers Contracts Mortgage Legal 482

Housing Wire

APRIL 18, 2024

McDermott joined G-Rate when the lender acquired Superior Mortgage in 2012, and resigned in November 2022. She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts. “We know Megan very well and treasured her 10 years with the company.

Loan Officers 475

Loan Officers Human Resources Contracts Mortgage 475

Housing Wire

JULY 26, 2022

District Court of Southern District of New York against Sprout Mortgage and Sprout Mortgage Asset Trust for fraud, breach of contract, promissory estoppel and unjust enrichment. 20, 2022, to Feb. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270.

Mortgage 397

Mortgage Legal Lending Investors 397

Housing Wire

FEBRUARY 2, 2024

. “2023 was one of the more challenging origination markets in recent history, with industry volumes down approximately 40% from 2022 and unit originations at their lowest level since 1990,” David Spector, chairman and CEO, told analysts during a call on Thursday afternoon. million in the same quarter of 2022.

Technology 433

Technology Legal Mortgage Contracts 433

Housing Wire

JULY 19, 2022

The lawsuit, filed in federal court in New York last week, alleges that since February 2022 “CrossCountry improperly poached no fewer than 32 loanDepot employees from loanDepot branches in Manhattan, Brooklyn and Fishkill, New York by interfering with loanDepot’s contractual and other legal rights.”

Loan Officers 397

Loan Officers Contracts Legal Business 397

Housing Wire

NOVEMBER 3, 2023

The agreement puts an end to a short-lived legal dispute with the Treasury Department. Change Lending was removed from the CDFI Fund’s list of certified program lenders in August after a Barron ‘s investigation found that the lender failed to meet its underserved lending requirements in 2022.

Lending 434

Lending Finance Legal Contracts 434

Housing Wire

APRIL 24, 2024

million profit it posted in 2022. Its net revenues shrank from $2 billion in 2022 to $1.4 Legal troubles with Black Knight contributed to the loss in Q4 2023. Legal troubles with Black Knight contributed to the loss in Q4 2023. Last year, Pennymac earned net income of $144.7 billion in 2023.

Lending 448

Lending Legal Contracts Mortgage 448

Housing Wire

OCTOBER 30, 2024

These actions include a Wells Fargo suit filed in Minnesota, where the bank sought more than $430,000 over an alleged breach of contract. But LoanSnap has been the target of several lawsuits in the past year.

Landlords 448

Landlords Loan Officers Lending Contracts 448

Housing Wire

JULY 26, 2022

District Court of Southern District of New York against Sprout Mortgage and Sprout Mortgage Asset Trust for fraud, breach of contract, promissory estoppel and unjust enrichment. 20, 2022, to Feb. 15, 2022, for the purchase of 51 loans, with a total principal value of $32,864,270.

Mortgage 370

Mortgage Legal Lending Investors 370

Housing Wire

JANUARY 30, 2023

The group also alleges that the company conducted a defamatory campaign against them after their layoffs in July 2022. According to the class-action-seeking lawsuit, filed in California, AmeriSave hired 200 loan officers to focus on the West Coast region in early 2022. The company originated $12 billion in 2022, down 62.2%

Loan Officers 493

Loan Officers Retail Contracts Mortgage 493

Housing Wire

MARCH 12, 2024

loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. million loss in 2022. The reduction was impacted by its exit of the wholesale channel in 2022, and it was partially offset by growth in servicing income and home equity lines of credit (HELOCs), as well as higher margins.

Legal 443

Legal Contracts Marketing Mortgage 443

Housing Wire

OCTOBER 28, 2024

While Monestier, who reportedly sold her Rhode Island home in 2022 and is part of the affected class, believes sellers were paying “inflated commissions,” she feels that prior to the settlement changes going into effect, the rules governing the industry were “clear and confusion did not reign supreme.”

Business 468

Business Sellers Realtors Buyers 468

Housing Wire

MAY 10, 2024

Members also pay a special assessment for NAR’s consumer ad campaign, which was raised to $45 in 2022. represent an entity in which the REALTOR(R) or member of their immediate family has a legal interest.” represent an entity in which the REALTOR(R) or member of their immediate family has a legal interest.”

Realtors 394

Realtors Finance Agents Legal 394

Housing Wire

MAY 13, 2024

In late 2022, FHFA announced that it would replace the Classic FICO credit model — which Fannie Mae and Freddie Mac have relied on for roughly 20 years — with new models (FICO 10T and VantageScore 4.0) These recommendations for additional data are critical to the successful implementation of the VantageScore 4.0

Legal 445

Legal Mortgage Contracts Insurance 445

Housing Wire

FEBRUARY 7, 2023

Like its peers, loanDepot is struggling amid a contracting mortgage market. million loss in the third quarter of 2022, when origination volumes declined to $12.4 loanDepot’s headcount has nearly halved from 11,300 at year-end 2021 to approximately 6,100 at the end of September 2022.

Real Estate 391

Real Estate Legal Contracts Mortgage 391

Housing Wire

JULY 30, 2024

The OCMBC counterclaim brings eight counts, including defamation, breach of contract, fraud and unfair business practices. The document adds that Turturro joined HMAC in late 2022, becoming a “high-ranking employee” and divisional president for Jet Mortgage. (HMAC), wholesale lender OCMBC Inc.

Sellers 429

Sellers Business Contracts Mortgage 429

Housing Wire

APRIL 19, 2023

The incident in question dates back to March 2022 when mortgage rates were still relatively low. in March and April of 2022,” the suit said. The couples initially sued the lender in October 2022 on seven counts, including breach of contract, negligence and fraud. of the U.S.

Contracts 397

Contracts Lending Mortgage Legal 397

Housing Wire

JUNE 24, 2024

If you look at the number of originators, we didn’t see the level of fallout in 2024 that we did in 2022 or 2023. If you’re 18 and can legally enter the contract and have the title to the home, you are eligible for this product. With reverse mortgages, legality varies by state, which complicates things.

Mortgage 358

Mortgage Legal Business Investing 358

Housing Wire

OCTOBER 4, 2023

Sarah Pierce , former executive vice president for customer experience, sales and operations, filed a lawsuit on June 8, 2022, in the New York federal court, including Better Holdco, its founder Vishal Garg and general counsel Nicholas Calamari as defendants. The earliest due date was 120 days after the termination of her employment.

Law 446

Law Contracts Business Legal 446

Housing Wire

AUGUST 31, 2023

According to the filing, after the franchisees signed a contract, the defendants then required franchisees to adopt KWRI’s present market cap, which is the fee agents pay their market centers. In the filings, which name Keller Williams , Keller, former KW president Josh Team, Business MAPS Ltd.

Contracts 435

Contracts Business Brokerage Training 435

Housing Wire

DECEMBER 19, 2023

Big Four title firm Fidelity National Financial and its subsidiary mortgage subservicer Loancare are facing a class action lawsuit alleging that they were negligent with customer data and that they breached their contract, after the firm was the victim of a cyber security attack in late-November. District Court for Central California.

Clients 448

Clients Contracts Mortgage Legal 448

The Robert Weiler Company

JULY 4, 2022

But it’s important that you select books that are newly published; this is especially critical when you’re relying on the books for legal or tax-related information or forms. However, property management some books will focus on the tax, regulations, and legal aspects of renting spaces. Author: David Enterprises.

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Property Management Tenants Landlords Legal 78