Appraisal Buzz

AUGUST 16, 2024

Kahane & Associates PA is a full-service law firm based in Sunrise, Florida, that represents secured and unsecured creditors and provides a full range of legal industry, from foreclosure and bankruptcy representation to litigation, evictions, collections, loss mitigation, and REO closings. Kahane Esq. , Kahane Esq. ,

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Housing Wire

JULY 19, 2024

Headquartered in Southern California , AscentDS will focus on providing customized financing solutions to single-family and multifamily housing developers and investors across the nation. Gibson Dunn was the legal adviser for AscentDS and WilmerHale was the adviser for Elliott. now known as Rithm Capital.

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Housing Wire

MARCH 4, 2025

Passed in 2021, the CTA aims to combat financial crimes such as tax fraud, money laundering and terrorist financing by requiring certain businesses to file a BOI report with FinCEN. ALTA added that the Treasury announcement is likely to face legal challenges. This rule, which goes into effect Dec.

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Housing Wire

OCTOBER 15, 2024

That was down 18% year over year, per Inside Mortgage Finance estimates. Redlining is the legal practice of denying certain neighborhoods the same access to credit based on their racial or ethnic composition. The company ranked No. 12 among the largest U.S. mortgage lenders in the first half of 2024, with $11.8

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Appraisal Buzz

JULY 12, 2024

The Federal Housing Finance Agency (FHFA) has announced a set of required tenant protections for multifamily properties financed by Fannie Mae and Freddie Mac (the GSEs). HUD funded 21 grantees serving tenants across 19 states with $40 million during the first phase of the program in FY 2021 and 2022.

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Housing Wire

SEPTEMBER 5, 2024

The report calls on more states and cities to pass “source of income” or “source of financing” anti-discrimination statutes and enforce them to protect homebuyers. The CFA also called on real estate associations to better educate agents on sources of financing discrimination and how to successfully work with FHA buyers. of the U.S.

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Housing Wire

DECEMBER 17, 2024

PACE loans which are often used to finance environmentally minded renovations, like the addition of solar panels have led to financial instability for some borrowers. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology.

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Housing Wire

MAY 8, 2024

PMG offers platforms for human resources, finance, technology , legal and compliance services to its group of lenders. Additionally, there are no property location or census tract constraints, making the program accessible within PMG’s nationwide footprint.

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Housing Wire

FEBRUARY 15, 2024

The legal battle follows the creation of a Facebook group called “Rocket Pro TPO vs UWM,” which UWM says Walker founded on Oct. mortgage lender, originating about $108 billion in 2023, per Inside Mortgage Finance estimates. UWM filed a lawsuit in a U.S. district court in Michigan on Wednesday. UWM is the largest U.S.

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Housing Wire

AUGUST 13, 2024

In these contracts – also known as “land contracts” or “bond for deed” –the seller retains the legal title to a home until the borrower completes all the payments, leading to some “traps,” according to the CFPB. Homebuyers shouldn’t receive different levels of protection just because of the type of financing they use to purchase their homes.

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Housing Wire

NOVEMBER 17, 2023

The transition of three veteran sales executives from South Carolina-based lender Movement Mortgage to its California competitor Summit Funding led to a legal battle over poaching. Increasing the tone of the legal battle, Pennington filed a counterclaim against Movement requesting about $9.8 million in unpaid compensation.

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Housing Wire

MARCH 14, 2024

Treasury Department , given to specialized organizations that provide financial services to low-income communities and others who lack financing options.

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Housing Wire

SEPTEMBER 23, 2024

A spokesperson for CCM said the company “does not comment on legal matters.” higher than the same period in 2023, according to Inside Mortgage Finance. She alleges violations of the Age Discrimination in Employment Act, the state’s Human Relations Act and common law. CCM was the 10th-largest U.S.

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Housing Wire

JULY 26, 2024

Whether you’re a year away from selling or hoping to close in a few months, a timeline is important for all parties, especially if your family member needs to sell an existing home, secure financing, and arrange moving details. Discuss financing. Does your buyer need to secure a mortgage ? Are they buying with cash?

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Housing Wire

MARCH 21, 2024

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. Equifax did not immediately return a request for comment.

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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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Housing Wire

JULY 29, 2024

billion originated from January to June, down 6% year over year, according to Inside Mortgage Finance (IMF) estimates. For example, loanDepot has an ongoing dispute with CrossCountry Mortgage in New York, while Movement has a legal battle with Summit Funding. National Mortgage News first reported on the motion to dismiss.

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Housing Wire

DECEMBER 19, 2023

While the current leadership is vocal relative to consumer protection and racial equity issues, there are permanent, institutional commitments to fairness in housing and housing finance that have been enshrined in law for decades and that transcend politics.

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Housing Wire

NOVEMBER 29, 2023

However, wills and estate planning can be costly, and many Americans do not have the resources to legally account for their property before they pass away. Heirs also may not be able to reap the economic benefits of homeownership and build generational wealth if they cannot finance and transfer the property.

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Housing Wire

SEPTEMBER 25, 2023

IRIS Software Group, one of the UK’s largest, privately held software companies, provides software solutions and services for finance, HR and payroll teams and accountancy firms. They must also prove they have a legally required, permissible purpose for accessing the information.

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Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

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Housing Wire

JANUARY 10, 2024

In the trade organization’s motion for a new trial, it claimed that “the previous trial resulted in a miscarriage of justice through a verdict against the weight of the evidence, an excessive damage award, and legal errors at trial.”

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Housing Wire

MAY 8, 2024

Several departments were affected, including legal, secondary market and quality control. According to Inside Mortgage Finance (IMF) estimates, Newrez was the fifth-largest mortgage lender in the country in the first quarter of 2024. The layoffs include mortgage professionals such as processors, underwriters and loan officers.

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Housing Wire

MARCH 28, 2024

According to the DOL, they must pay $35,000 in emotional damages and the legal fees of the two employees who reported consumer fraud concerns. According to data from Inside Mortgage Finance , PrimeLending, led by president and CEO Steve Thompson, ranked as the 35th largest U.S. mortgage lender in 2023.

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Housing Wire

NOVEMBER 9, 2023

The heightened consumer protection focus from government agencies, combined with the Department of Justice’s ongoing legal feud with the National Association of Realtors and its recent involvement in the Nosalek commission lawsuit , has many in the industry expecting that the DOJ will get involved in the Sitzer/Burnett suit, and potentially others.

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Housing Wire

AUGUST 13, 2024

Services that are legal, disclosed, and regulated cannot be ‘junk fees,’” the letter states. To justify the price of title insurance, ALTA noted all of the curative work that goes into clearing a title prior to closing, as well as the fact that title insurance provides policyholders with legal defense if their title is ever challenged.

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Housing Wire

JUNE 4, 2024

In practice, the CFPB said companies are using terms and conditions that make consumers give up certain legal rights and protections. On Tuesday, the U.S. consumer financial watchdog released a circular warning companies that use ”fine-print tactics to trick consumers” about the risk of violating the Consumer Financial Protection Act.

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Housing Wire

MARCH 8, 2025

That was only seven years after women were legally allowed to obtain a mortgage without a cosigner. But Lautz also said that finances have a lot to do with the purchasing power of men and women. housing market , trailing only married couples.

Buyers 359

Buyers Legal Realtors Realty 359

Housing Wire

NOVEMBER 9, 2023

At this time, however, it’s not possible to quantify the full extent of remediation and legal expenses. The cyber attack is not expected to bring a “material” impact on the company finances, Mr. Cooper said. The company estimates fourth-quarter earnings will include $5 to $10 million in additional vendor costs.

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Housing Wire

MAY 13, 2024

Broeksmit added that the report “fails to consider the adverse impacts the Basel III Endgame proposal would have on the mortgage market, which, if implemented as proposed, would push banks further out of the business and make it more difficult for them to provide the vital financing that sustains IMBs.” Treasury Secretary Janet L.

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Housing Wire

MARCH 14, 2024

Hello Divorce , a platform that provides legal assistance to couples in the process of divorce, has introduced a new service, HomeSplit, to help individuals navigate the process of dividing their home’s financial assets.

Real Estate 482

Real Estate Legal Modernization Clients 482

Housing Wire

SEPTEMBER 13, 2024

. “As a delegate, Terrie was recognized by legislative peers and constituents as an expert on housing policy to include real estate licensure, common interest communities, landlord tenant issues, real estate finance, foreclosure , and building and fair housing issues,” her bio reads.

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Housing Wire

NOVEMBER 3, 2023

The CDFI certification is a designation given by the Treasury Department CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 435

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Housing Wire

OCTOBER 15, 2024

without source-of-income protections (provided their property is not already legally required to accept the vouchers and that at least 40% of the units are affordable or considered “small area fair market rents”). The program was previously limited only to eligible properties in North Carolina and Texas.

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Appraisal Buzz

DECEMBER 30, 2024

Rural Americans face unique challenges when it comes to homeownership, with limited access to small mortgages and financing options significantly impeding progress. Non-Mortgageable Homes Physical deficiencies and legal complications often render rural homes ineligible for traditional mortgages. Legal hurdles also play a role.

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Appraisal Buzz

AUGUST 13, 2024

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB).

Contracts 367

Contracts Investors Sellers Lending 367

Housing Wire

SEPTEMBER 13, 2024

At the end of August, the District of Columbia Housing Finance Agency (DCHFA) announced that it had relaunched its Reverse Mortgage Insurance & Tax Payment Program (ReMIT), which originally began in 2019 and expanded in 2020 before being halted at the end of 2021. We also partner with legal services to complete all settlements.

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