Housing Wire

MARCH 8, 2024

But government attorneys representing Ginnie Mae (GNMA) say that it doesn’t matter whether or not such verbal promises were made. 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.

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Appraisal Buzz

SEPTEMBER 3, 2024

Ron Chillemi has joined non-bank HELOC provider Figure Technology Solutions as its first chief legal officer and corporate secretary, where he will oversee the company’s legal and compliance functions. Earlier in his career, Ron spent seventeen years as a prosecutor at three different levels of government.

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Appraisal Buzz

SEPTEMBER 16, 2024

Ronald Chillemi has been appointed Chief Legal Officer (CLO) and Corporate Secretary of Figure Technology Solutions, Inc. He will oversee the legal and compliance departments of the business in this capacity. Ron Chillemi, Chief Legal Officer (CLO) and Corporate Secretary of Figure Technology Solutions, Inc. “We

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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

JANUARY 8, 2021

The natural trajectory could be tightening of credit underwriting that disproportionally impacts some communities if uncertainty exists in the legal and regulatory requirements of the rule. The post The mortgage industry should build ATR rule governance appeared first on HousingWire.

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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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Housing Wire

OCTOBER 15, 2024

The government-sponsored enterprise (GSE) said the Housing Choice Voucher program, which launched in 2022, assists very low-income families, seniors and people with disabilities in being able to afford stable and quality housing in the private market. The program was previously limited only to eligible properties in North Carolina and Texas.

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Housing Wire

AUGUST 6, 2024

Attorneys for Ginnie Mae have responded to Texas Capital Bank (TBC) over the government’s motion to move the case to a different venue. 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.

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Housing Wire

APRIL 19, 2024

Government attorneys deny that TCB “is entitled to any of the relief sought in the complaint,” adding that they deny “[e]ach and every allegation, as well as all inferences, arguments, and legal conclusions based on them.” This is according to court documents reviewed by RMD. The judge largely disagreed.

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Housing Wire

APRIL 4, 2024

The federal judge overseeing a case brought by Texas Capital Bank (TCB) against Ginnie Mae has dismissed a portion of the bank’s complaint against the government-owned company but will allow the majority of the case to progress, according to court filings reviewed by RMD. Presiding Judge Matthew Kacsmaryk ruled in the U.S.

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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.

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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. The property rights of American homebuyers must be protected,” Elizabeth Blosser, ALTA’s vice president of government affairs, said in a statement. “A

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Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”.

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Housing Wire

MARCH 14, 2024

Hild and his legal team have consistently maintained that the restitution figure should be lower and, in the case of some companies, should be $0. Hild’s attorney conferred with the government on the matter and says it “objects to this request.” The government has yet to file a formal motion explaining its objections.

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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

JUNE 13, 2024

In an analysis of more than 100 real estate wire fraud cases, CertifID found that the most common wire fraud-related legal liability issues for real estate firms are negligence, breach of contract, deceptive business practices and breach of fiduciary duty. Despite governing this issue, the code does not include a mandate for account matching.

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Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. We also commend the whistleblower for coming forward, exposing these wrongs, and working with the government investigative team.”.

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Housing Wire

DECEMBER 19, 2023

High-profile government actions against some of the nation’s largest financial firms for alleged violations of fair lending laws and loan servicing principles have sent a sobering message to industry CEOs and their boards: the buck stops at the top. Just ask the ones who in the recent past have lost their jobs or faced reputational damage.

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Housing Wire

NOVEMBER 28, 2023

Decades ago, zoning laws were used to legally segregate local communities based on race. Launch a government-funded affordable housing awareness campaign Home equity is the primary source of wealth for most Americans. The Fair Housing Act made the explicit segregation of communities by race illegal.

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Housing Wire

APRIL 5, 2022

There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Section E: Yay, no government fees… for now! The IRS and government agencies haven’t provided guidance and regulation yet. Defining virtual real estate.

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Housing Wire

SEPTEMBER 15, 2022

The California-based mortgage lender announced on Wednesday it has hired Gregory Smallwood, former general counsel and executive vice president of Caliber Home Loans , to be chief legal officer and corporate secretary. The announcement comes two days after the company named Joseph Grassi as its chief risk officer.

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Housing Wire

JANUARY 13, 2025

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are aiming to remind homeowners and renters impacted by the ongoing wildfires in Los Angeles of various relief options. Foreclosure and other legal proceedings are also suspended while homeowners are on a forbearance plan, Freddie Mac explained.

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Housing Wire

DECEMBER 16, 2022

Much of the expense is invested in the efforts of land title professionals to review the title and purchase title data from local governments. Having owner’s title insurance means the cost of defense and legal fees that typically would be the homeowner’s responsibility instead are paid by the title insurer.

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Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S.

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Housing Wire

JANUARY 30, 2024

The suit, filed in October over loans TCB made to now-bankrupt lender Reverse Mortgage Funding (RMF), recently saw the presiding magistrate judge impose deadlines on all pretrial processes that extend into 2025, a point when it’s possible that new leaders — and, potentially, new priorities — will be steering the government-owned Ginnie Mae.

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Housing Wire

NOVEMBER 9, 2023

In addition to the DOJ, real estate agent commissions may have caught the eye of yet another government agency. In the face of even more potential legal challenges, at least of the corporate defendants has looked to up its legal game. Solicitor General Paul Clement to its legal team. “I

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Housing Wire

MARCH 1, 2024

government and former Live Well Financial CEO Michael Hild regarding a restitution amount owed to the company’s creditors, a magistrate judge overseeing the issue has recommended that Hild pay more than $46 million. Attorneys for Hild and the government have been at odds for the better part of a year over restitution.

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Housing Wire

NOVEMBER 29, 2023

Given the numerous risks and challenges associated with heirs’ property and the higher incidence in low- to moderate-income communities, the American Land Title Association (ALTA) is committed to expanding awareness of heirs’ property and collaborating with industry and government partners to address this often-overlooked hurdle to wealth building.

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Housing Wire

SEPTEMBER 25, 2023

The Work Number is governed by the Fair Credit Reporting Act (FCRA). They must also prove they have a legally required, permissible purpose for accessing the information. Equifax’s Work Number has access to over 631 million employment records from 2.8 million employers, the Atlanta-based data provider said.

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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.” Following the Aug.

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Housing Wire

SEPTEMBER 21, 2020

Soaring demand for refinances almost overwhelmed the mortgage and title industries, and the purchase real estate market was disrupted by government restrictions without adequate instructions. All would appreciate guidance on how to comply with the surge of legal and regulatory changes. Some are forging ahead in whack-a-mole fashion.

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Housing Wire

NOVEMBER 14, 2024

The Congressional Budget Office (CBO) this week published a report assessing the performance of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac in reaching their single-family housing goals. The CBO found that the GSEs “met or exceeded” nearly all goals over a four-year period from 2018 to 2022.

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Housing Wire

SEPTEMBER 13, 2023

Gavin Newsom of California on Tuesday received a senate bill legalizing remote online notarizations ( RON ). It found that California was one of the least equitable states in the country when it came to access to financial and government services. He has until Oct. 14 to act on it. Massachusetts’s Gov. It takes effect on Jan.

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Housing Wire

JUNE 1, 2021

HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. Developers, lenders or local governments could compete for the funds through an application process. HUD plans to launch a “first-of-its-kind interagency effort” to combat inequity in appraisals , according to a White House press release.

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Housing Wire

JANUARY 15, 2025

Independent academic studies have largely challenged this conception, particularly for medicinal use , but the ongoing Schedule I classification means that in the eyes of the federal government, marijuana use is illegal and constitutes a criminal offense.

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Housing Wire

OCTOBER 2, 2020

The proposed rule addressed capital, liquidity, governance, policy related to entity survivorship, and more. The nonbank servicing model grew at the behest of the federal government and the GSEs and more. All these issues are exacerbated if a servicer’s operational capacity has not kept pace with its growth.”.

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Housing Wire

APRIL 24, 2023

However, neighborhoods with associations or other “common interest communities” with legally-binding zoning rules would be exempt, according to the Seattle Times. We can’t go back and retroactively change the conditions that have been signed into in those legal documents,” Bateman said.

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