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. That equates to a loss of about 10% of PrimeLending’s workforce.

Loan Officers 482

Loan Officers Contracts Mortgage Legal 482

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 stock car team is also accusing EPM of breaching the contract by failing to make more than $4 million in sponsorship payments following a “margin call” from its investors.

Contracts 389

Contracts Legal Lending Loan Officers 389

Housing Wire

JULY 19, 2022

Even in a downturn, the loan officer recruiting wars remain fierce. Beleaguered nonbank lender loanDepot is suing rival lender CrossCountry for allegedly dozens of poaching high-performing loan officers from its New York branches. Anthony Hsieh, founder and CEO of loandepot. loanDepot reported a net loss of $91.3

Loan Officers 397

Loan Officers Contracts Legal Business 397

Housing Wire

APRIL 18, 2024

A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment.

Loan Officers 476

Loan Officers Human Resources Contracts Mortgage 476

Housing Wire

OCTOBER 10, 2024

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023.

Mortgage 418

Mortgage Landlords Loan Officers Legal 418

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 435

Legal Loan Officers Contracts Business 435

Housing Wire

JUNE 29, 2023

It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot. That’s not the Orange County, California-based lender’s only poaching legal battle. A Movement representative did not return a request for comments.

Retail 448

Retail Contracts Legal Business 448

Housing Wire

SEPTEMBER 7, 2023

“The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said. I think listing agents are going to win. Fannie Mae, Freddie Mac and the U.S.

Buyers 418

Buyers Agents Loan Officers Real Estate 418

Housing Wire

JANUARY 30, 2023

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 group also alleges that the company conducted a defamatory campaign against them after their layoffs in July 2022. million when considering all 140 potential class members.

Loan Officers 493

Loan Officers Retail Contracts Mortgage 493

Housing Wire

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. However, if the contract was terminated with cause – which includes cases of fraud or breach of fiduciary duty, among others – he would not receive the severance compensation. In 2020, it originated $8.5

Retail 448

Retail Contracts Loan Officers Mortgage 448

Housing Wire

JUNE 17, 2024

One of the cases mentioned is a lawsuit filed by former loan officer Megan McDermott, which HousingWire reported on in April. Some sources said they were afraid of legal pushback. In the Tribune investigation, former female employees accused the company of maintaining a “sexualized atmosphere” and a “boys club” culture.

Human Resources 455

Human Resources Law Loan Officers Legal 455

Housing Wire

FEBRUARY 26, 2024

Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. 21 in the U.S.

Retail 448

Retail Legal Lending Business 448

Housing Wire

FEBRUARY 4, 2022

United Wholesale Mortgage (UWM) is making good on its threat to take legal action against partnering broker shops that also send business to Rocket Mortgage and Fairway Independent Mortgage , a violation of the wholesaler’s controversial broker agreement. million for repeatedly violating the terms of the agreement.

Legal 370

Legal Contracts Business Mortgage 370

Housing Wire

FEBRUARY 16, 2022

SM: I joined this industry as a Retail Mortgage Loan Officer growing to a Broker Owner in my local community and try to apply a simple concept we share with customers and prospects which is the idea of digital lending made simple. The idea is that only one digital original exists and is legally transferable and enforceable.

Lending 397

Lending Technology Tools Loan Officers 397

Housing Wire

MARCH 22, 2021

This month, United Wholesale Mortgage took the industry by surprise when it made a statement that it would block mortgage brokers from doing business with the company if they did business with either Quicken Loans or Fairway Mortgage. I was astonished, frankly. Without question, the vibrant state of the U.S.

Business 539

Business Retail Mortgage Lending 539

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. But its members noticed “many real estate agents are already writing sales contracts that require the buyer to pay the buyer’s real estate commission.”

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Birmingham Appraisal

DECEMBER 17, 2024

Real estate agents and loan officers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations. Tip for Agents: Double-check the property address before submitting it to the appraiser, ensuring it matches all marketing materials and legal documents.

Appraisal 75

Appraisal Easement Real Estate Agent Valuation 75

Housing Wire

AUGUST 4, 2023

And when it’s time to wade through complicated contract language or explain the benefits or drawbacks of a property, agents who communicate better have a leg up on their competition. Real estate professionals who listen carefully better understand their clients’ wants and needs. Talent for negotiation Negotiation isn’t easy.

Real Estate Agent 370

Real Estate Agent Real Estate Agents Clients 370

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. For example, within these firms, there are occupations such as loan officers, loan interviewers, title-related occupations, and loan counselors that could apply to both mortgage and non-mortgage lending.

Lending 397

Lending Mortgage Real Estate Loan Officers 397

PennyMac

JULY 20, 2021

Find an agent who really understands the different contracts you need and how to properly fill them out, the legal obligations you’ll run into, and the financial side of the business. In popular markets , homes can go under contract quickly — sometimes even the same day that they are offered for sale. Don’t have an agent?

Real Estate Agent 69

Real Estate Agent Real Estate Agents Sellers 69

PennyMac

AUGUST 31, 2024

During closing, you’ll need to carefully review, approve and sign numerous legal documents that officially transfer ownership of the property to you. The price is formally documented in the purchase agreement, a legally binding contract that outlines the terms of the transaction.

Inspection 36

Inspection Real Estate Agent Sellers Legal 36

Appraisal Today

MAY 10, 2024

The mortgage loan officer handling the loan? There is administrative time involved, as well as legal factors. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.18 Was it the borrower? A Zillow Zestimate? They start the row.

Reconsideration of Value 73

Reconsideration of Value Appraisal Real Estate Insurance 73

Assurance Financial

DECEMBER 20, 2021

A sale and settlement contingency gives you the legal right to exit a contract if you don’t receive an offer for your current home in time. However, if the seller accepts your offer, you’ll be able to keep the home you want under contract while you wait for a buyer. Bridge Loan. Linked Sources: [link].

Mortgage 74

Mortgage Sellers Buyers Finance 74

PennyMac

DECEMBER 22, 2020

The lender initiates legal proceedings against the borrower to foreclose on the property. Depending on the lender, you may need to submit special contract forms or paperwork. Browse PennyMac REO listings to see available bank-owned properties from PennyMac, or call a PennyMac Loan Officer to discuss your options today.

Inspection 69

Inspection Real Estate Agent Real Estate Agents 69

PennyMac

APRIL 2, 2020

Is Homeowners Insurance Legally Required? Once you’ve mutually agreed upon a price, you and the seller will be under contract, also known as being in escrow. No matter which step you’re on, working with a PennyMac Loan Officer or getting started online is a great way to make your homeownership dream a reality.

Real Estate Agent 36

Real Estate Agent Inspection Sellers Real Estate 36

PennyMac

JUNE 28, 2022

This fee will cover the attorney preparing and reviewing agreements and contracts. State laws will usually dictate who is legally responsible for overseeing the closing. Often, the seller will pay this fee, but it can depend on how competitive the housing market is or what the specific HOA contract dictates. Closing Fee.

Property Taxes 36

Property Taxes Insurance Sellers Inspection 36

Housing Wire

JANUARY 6, 2025

This movement, however, is not without legal risks for employee and employer. Likewise, do not violate any provisions of your employment contract regarding solicitation of employees or customers. As mortgage lenders compete for this more rarified talent, originators are constantly enticed by new opportunities and potential bonuses.

Mortgage 418

Mortgage Legal Business Loan Officers 418