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.

Construction 414

Construction Development Finance Lending 414

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.

Tenants 435

Tenants Landlords Legal Finance 435

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

Advertising 423

Advertising Lending Loan Officers Retail 423

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.

Buyers 426

Buyers Real Estate Agent Inspection Real Estate 426

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.

Legal 243

Legal Finance Modernization Mortgage 243

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.

Legal 427

Legal Law Property Taxes Government 427

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.

Insurance 435

Insurance Legal Finance Mortgage 435

Housing Wire

NOVEMBER 14, 2024

The CBO analyzed data from the Federal Housing Finance Agency (FHFA) data in its report. Fannie and Freddie are also legally mandated to follow housing goals that “serve as benchmarks for measuring how the GSEs facilitate the financing of affordable housing for low-income families,” the report stated.

Government 463

Government Finance Legal Mortgage 463

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.

Legal 436

Legal Business Government Tools 436

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.

Legal 387

Legal Supply Chain Law Lending 387

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.

Contracts 408

Contracts Mortgage Law Sellers 408

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?

Market Value 398

Market Value Real Estate Agent Real Estate Finance 398

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.

Mortgage 398

Mortgage Legal Loan Officers Retail 398

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.

Lending 373

Lending Renovations Legal Real Estate 373

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.

Mortgage 312

Mortgage Renovations Property Taxes Finance 312

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

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.

Legal 352

Legal Law Property Taxes Contracts 352

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.

Insurance 423

Insurance Mortgage Legal Government 423

Housing Wire

JANUARY 31, 2024

This is according to experts who spoke to personal finance website Bankrate about the concept of taking on a new mortgage in retirement. Seniors, even those of advanced age, are legally required to face the same qualification requirements as any other mortgage applicants. “I

Property Taxes 379

Property Taxes Mortgage Design Finance 379

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.

Finance 431

Finance Government Mortgage Legal 431

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.

Tools 384

Tools Mortgage Finance Lending 384

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.

Human Resources 324

Human Resources Mortgage Legal Design 324

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 432

Real Estate Legal Modernization Clients 432

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.

Loan Officers 377

Loan Officers Retail Legal Mortgage 377

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.

Legal 409

Legal Law Finance Technology 409

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.

Mortgage 340

Mortgage Loan Officers Legal Finance 340

Housing Wire

SEPTEMBER 5, 2023

We believe the settlement will remove future uncertainty with respect to the upcoming trial, potential additional claims, and legal expense, enabling Anywhere to focus on and continue delivering what’s next for agents and franchisees.

Real Estate 448

Real Estate Buyers Legal Realtors 448

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.

Human Resources 384

Human Resources Legal Fees Loan Officers Retail 384

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.

Mortgage 418

Mortgage HOA Legal Property Taxes 418

Housing Wire

MARCH 15, 2024

“You may see buyers’ agents still be relevant, but LOs need to find vehicles to educate their buyers’ agents, educating them on how to use seller concessions, for example, to finance buyer-paid broker fees.” VanFossen said there are talks about the “mortgage industry figuring out methods to finance the buyers’ real estate agent commission.”

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

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 381

Lending Finance Legal Contracts 381

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.

Landlords 410

Landlords Tenants Property Management Legal 410

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.”

Legal 354

Legal Law Realtors Brokerage 354

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.

Legal 372

Legal Real Estate Real Estate Agent Law 372

Housing Wire

MARCH 8, 2024

JND Legal Administration is in charge of distributing the mailers, emails and press releases. While it is not uncommon for the parties themselves to handle settlement administration work, legal experts told HousingWire that due to the size and scope of these lawsuits it is not surprising that a third-party administrator was brought in.

Agents 412

Agents Legal Realtors Clients 412

Housing Wire

MAY 6, 2024

According to Inside Finance Mortgage (IMF) estimates, Fairway ranked as 13th-largest U.S. Summit recently became involved in a legal battle with Movement over an alleged poaching scheme. These groups are bringing a total of 92 mortgage professionals to Fairway. mortgage lender in the first quarter of 2024. The lender originated $5.15

Retail 389

Retail Loan Officers Lending Legal 389

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.

Legal 361

Legal Contracts Law Lending 361