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. Consequently, the warehouse lender filed the lawsuit against Sprout on Wednesday for breaching the contract and injunction in the U.S.

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Contracts Law Legal Mortgage 397

Housing Wire

FEBRUARY 26, 2025

When reverse mortgage professionals from Australia and New Zealand made the long journey to San Diego last year to attend the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo, they were ready to learn about the core differences between the businesses in a different part of the world.

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Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 397

Contracts Loan Officers Best Value Legal 397

Housing Wire

OCTOBER 30, 2024

A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. The company — which is headquartered in Costa Mesa, California — also lost its mortgage lender license in Connecticut earlier this month.

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Landlords Loan Officers Lending Contracts 448

Housing Wire

MARCH 5, 2025

Keller Williams legal battle with former CEO John Davis is heating up. In the filing, Davis and Herfel claim that a Keller Mortgage employee accused John Keller of sexual misconduct, and that the allegations were then covered up by the companys general counsel Stacie Herron. Davis sued in an attempt to clear his name.

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Legal Training Business Contracts 377

Housing Wire

MARCH 6, 2025

Union Home Mortgage (UHM) is suing nine former employees on claims they breached several agreements, including non-compete agreements. National Mortgage News , which first reported the lawsuit, noted that APM is not listed as a defendant in the complaint.

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Mortgage Loan Officers Contracts Lending 312

Housing Wire

JUNE 26, 2024

Former NEXA Mortgage President Mat Grella filed a motion to dismiss a lawsuit in which the company accuses him of causing the failure of a hangar-office property purchase and acting to defame his business partner Mike Kortas. ” Kortas and Grella founded NEXA in 2017 after they left Equity Prime Mortgage. .

Contracts 390

Contracts Legal Sellers Brokerage 390

Housing Wire

MARCH 20, 2025

The claims) carry significant professional and legal consequences, he said. These allowed mortgage borrowers to request an ROV if they believe that the appraisal was inaccurate or biased. Garber added that the most pressing concern for appraisers remains the resolution of fair housing claims by the U.S.

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Appraisal Reconsideration of Value Real Estate Legal 243

Housing Wire

SEPTEMBER 3, 2024

Mortgage servicer Nationstar , doing business as Mr. Cooper , is expected to settle a lawsuit with electronic payment processing vendor ACI Payments that is related to alleged damages from unauthorized mortgage payments imposed on Mr. Cooper’s customers three years ago. The settlement notice was filed Aug. 30 in a U.S.

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Legal Fees Mortgage Legal Contracts 448

Housing Wire

AUGUST 6, 2024

They say that the bank’s own filing on the matter avoids the key issues that the government sought to raise regarding the original clause that specifies where any related legal actions should take place. The case is being closely watched by the reverse mortgage industry.

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Government Mortgage Contracts Legal 459

Housing Wire

JUNE 4, 2024

Supreme Court rejected a challenge to its funding mechanism in mid-May, the Consumer Financial Protection Bureau (CFPB) is now targeting the use of what it deemed ”unlawful or unenforceable” terms and conditions in contracts. In the mortgage industry, the CFPB mentioned unlawful terms that waive borrowers’ rights that cannot be waived.

Legal 448

Legal Contracts Law Lending 448

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

MARCH 19, 2024

Florida-based brokerage Atlantic Trust Mortgage has asked a Michigan federal court to dismiss a lawsuit filed by United Wholesale Mortgage (UWM) that alleges a violation of an amended agreement. Atlantic Trust entered into a wholesale broker agreement with UWM in 2018. district court in Michigan. district court in Michigan.

Mortgage 445

Mortgage Law Legal Brokerage 445

Housing Wire

FEBRUARY 18, 2025

Reverse mortgage industry conferences are often seen as an effective way for professionals to meet up, discuss best practices from across their markets and assess the regulatory environment at entities like the Federal Housing Administration (FHA) and within the states. Occasionally, U.S.-based Why make the trip? they explained.

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Contracts Advertising Real Estate Agent Mortgage 293

Housing Wire

FEBRUARY 2, 2021

A coalition of 33 state attorneys general filed a motion against PHH Mortgage and its predecessor Ocwen Loan Servicing for allegedly charging unlawful servicing fees to nearly one million borrowers. Then, the CFPB announced that it was suing Ocwen for “failing borrowers at every stage of the mortgage servicing process.”.

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Mortgage Legal Law Contracts 407

Housing Wire

NOVEMBER 18, 2022

This article addresses two legal issues relevant to the review: FHFA’s statutory authority to reduce the number of Federal Home Loan Banks, and The application of the FHLBank statutory “super lien”. This provision may be challenged by the affected FHLBank under legal process.

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Legal Law Insurance Finance 370

Housing Wire

MARCH 8, 2024

District Court for the Northern District of Texas that verbal agreements are not legally binding and the case should be dismissed, according to court filings reviewed by RMD. Attorneys for the U.S. government have repeatedly requested for the claims to be dismissed.

Legal 488

Legal Government Contracts Mortgage 488

Housing Wire

AUGUST 8, 2023

Mortgage tech firm Lender Toolkit sued two mortgage lenders claiming that the companies failed to make payments while continuing to use its services and software solutions. Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. Both lenders entered into a contract with Lender Toolkit in 2021.

Mortgage 367

Mortgage Contracts Legal Business 367

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. Therefore, we will follow the agreed upon contract and win damages.”

Contracts 468

Contracts Loan Officers Lending Retail 468

Housing Wire

OCTOBER 3, 2024

EasyKnock , which offers sale-leaseback solutions to homeowners, announced a legal victory in Texas on Wednesday as it was awarded more than $153,000 by an arbitrator. The company has been fighting legal battles on multiple fronts through a series of consumer-initiated lawsuits and actions by regulators in several states.

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Legal Law Property Taxes Contracts 434

Housing Wire

NOVEMBER 1, 2024

That can include being a housing market expert and advising clients on the best times to list or buy a home; having referrals handy for inspections, repairs, staging and photography; understanding the mortgage origination process; and more. citizen or legal resident and be 18 years of age or older. Generally, you need to be a U.S.

Real Estate 448

Real Estate Real Estate Agent Agents Brokerage 448

Housing Wire

SEPTEMBER 26, 2023

Mortgage servicer Nationstar , doing business as Mr. Cooper , has filed a lawsuit against electronic payment processing vendor ACI Payments related to the damages it allegedly suffered from unauthorized mortgage payments imposed on its customers two years ago. ”

Mortgage 434

Mortgage Legal Fees Legal Contracts 434

Appraisal Buzz

FEBRUARY 24, 2025

Real estate appraising is a complex practice that requires a diverse range of skills and knowledge, from understanding current market conditions to understanding and interpreting complex legal and financial documents. If you want to be your own boss, it also requires business acumen. quickly ) , as well as do so using a variety of sources.

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Real Estate Development Appraisal Legal 335

Housing Wire

MARCH 18, 2024

million to Black Knight Servicing Technologies , concluding a five-year legal battle over allegations of trade secret theft involving two of the biggest companies in the housing industry. million in damages related to a breach of contract claim, plus interest and attorneys fees. PennyMac Financial Services has paid $158.4

Legal 448

Legal Contracts Technology Development 448

Housing Wire

SEPTEMBER 24, 2024

mortgage lender United Wholesale Mortgage (UWM) this week won a three-year legal battle with a mortgage brokerage firm. The brokerage, which refused to do so, accused UWM of monopolizing the wholesale mortgage market. Most recently, UWM sued Atlantic Trust Mortgage Corp. On Monday, U.S.

Brokerage 435

Brokerage Contracts Legal Mortgage 435

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.

Mortgage 397

Mortgage Legal Lending Investors 397

Housing Wire

JUNE 24, 2024

Top 10 reverse mortgage industry lender South River Mortgage is aiming to focus on its strengths. In addition to offering a proprietary reverse mortgage product option and transitioning last year from a broker to a direct lender , the company is focusing on its core business while staying engaged with the broader industry dynamics.

Mortgage 388

Mortgage Business Legal Investing 388

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.

Contracts 393

Contracts Legal Lending Loan Officers 393

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.

Mortgage 370

Mortgage Legal Lending Investors 370

Housing Wire

JANUARY 10, 2024

Guild Mortgage has filed a petition in a district court in Washington to confirm a $10.7 million award resulted from an arbitration dispute against three former employees accused of poaching when they transitioned to rival CrossCountry Mortgage. A spokesperson for CCM wrote that the company “does not comment on legal matters.”

Legal 448

Legal Lending Contracts Mortgage 448

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 459

Lending Government Legal Law 459

Housing Wire

DECEMBER 5, 2023

An arbitrator conclusion issued last week caps a four-year legal battle over allegations of trade secret theft involving two of the biggest companies in the housing industry, Black Knight Servicing Technologies and PennyMac Financial Services. 28, an arbitrator awarded Black Knight $155.2 In March 2020, the companies entered arbitration.

Contracts 448

Contracts Development Legal Law 448

Housing Wire

JUNE 29, 2023

loanDepot is accusing its competitor Movement Mortgage of damaging its business by hiring over 25 employees in three months and “effectively crippling” “now-depleted” branches. It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot.

Retail 448

Retail Contracts Legal Business 448

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

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Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

FEBRUARY 20, 2025

The Attorney General of Massachusetts has filed suit against home equity contract provider Hometap , alleging that the company pervasively and systematically violated the states consumer protection laws, including mortgage and foreclosure prevention laws, putting financially vulnerable homeowners at high risk of losing their homes.

Mortgage 307

Mortgage Contracts Law Clients 307

Housing Wire

NOVEMBER 16, 2023

When CoreLogic acquired Roostify, the digital mortgage technology company I co-founded and led for more than a decade, in February, our mission was to accelerate and simplify the home lending experience. Realtors are able to modify select provisions in the contract form as they negotiate on behalf of their clients.

Realtors 448

Realtors Contracts Real Estate Agents 448

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.”.

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Legal Loan Officers Contracts Business 435