Housing Wire

APRIL 1, 2024

Agencies in alignment on the new rules include the Office of the Comptroller of the Currency , the Federal Reserve Board and the Federal Deposit Insurance Corp. Each of the agencies are named as defendants in the case. In a joint statement issued by the plaintiffs and posted by the ABA, they lauded the judge’s decision.

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Modernization Law Lending Insurance 468

Housing Wire

JANUARY 19, 2022

The Financial Crimes Enforcement Network , or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents.

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Real Estate Agent Real Estate Agents Insurance 468

Housing Wire

AUGUST 7, 2020

Suazo has over 15 years of leadership experience in the mortgage lending space with firms including Stearns Lending , Bank of America , Carrington Holding Company and CloudVirga. Before that Yankowski was president and CEO of Executive Title Insurance Services.

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Technology Law Lending Legal 379

Housing Wire

JANUARY 27, 2025

The companies advertise no monthly payments and require consumers to assume all costs for property taxes, hazard insurance, and property maintenance, and require a large settlement payment, similar to the loans originated in the early 2000s that were negative amortizing and required a balloon payment at the end of the loan term, the report said.

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Contracts Mortgage Property Taxes Law 370

Appraisal Buzz

FEBRUARY 20, 2025

Open to all mortgage lending and servicing professionals, GSEs , government entities, and Legal League members, the annual Spring Servicer Summit gathers the nations elite financial services law firms to discuss default policies, procedures, and emerging issues with leading mortgage servicing executives.

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Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. In his own statement Thursday, Chopra said companies have “legal responsibilities when they let a black-box model make lending decisions.”. The CFPB has raised concerns in the past that algorithmic models perpetuate discriminatory mortgage lending practices.

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Valuation Law Legal Government 448

Appraisal Buzz

MAY 9, 2022

With all the construction of log homes, there needs to be legal and competent appraisals for these homes. However, the Highest and Best Use Analysis tells us that a log home must be legally compliant and/or Legally Permissible and the findings of the analysis must be relayed to the intended user of the report.

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Valuation Legal Construction Appraisal 396

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. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

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Mortgage Government Retail Lending 505

Housing Wire

OCTOBER 1, 2020

The complaint announced on Friday alleges that in order to significantly increase its loan production, Nutter used unqualified underwriters lacking the requirements established by HUD to review and approve HECMs that Nutter ultimately insured with the FHA. When reached for comment, Edward T.

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Housing Wire

SEPTEMBER 4, 2024

Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture. The ML goes into effect on Sept. The updated rule builds upon several changes that FHA made to the HECM program on Jan. 19, 2017, which went into effect later that year. 19, 2017,” FHA said in its announcement.

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Mortgage Legal Development Insurance 459

Housing Wire

FEBRUARY 3, 2025

The checklist covers such broad areas and topics as: organizational structure; litigation; compliance ; intellectual property; real property; financial and tax; labor and employment; material, vendor, and software contracts; insurance; and customers. Patent & Trademark Office. Nettleingham is a shareholder at Maddin Hauser.

Mortgage 418

Mortgage Contracts Insurance Sellers 418

Housing Wire

APRIL 20, 2021

” Fercho, the head of home lending at Wells Fargo, asked Calabria about the 7% hard cap and what stakeholders can do now before any new amendments are put into place. That would be like if Wells said, ‘Well, we’ve got deposit insurance so who cares.'”

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Finance Investing Lending Legal 531

Housing Wire

SEPTEMBER 2, 2022

Enact Mortgage Insurance. SVP, Retail Lending Analytics Manager. Synergy One Lending. VP, Legal and Compliance. Executive Manager, Credit & Economic Inclusion. Heather Hanwacker. Modeling & Analysis Manager. Heike Hellwig. Executive, Customer Experience. Huruy Yohannes. AmeriHome Mortgage. Jacob Gibbs.

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Retail Finance Realty Technology 418

Housing Wire

JANUARY 12, 2024

The company later told RMD, however, that the loan was within current product lending limits. The 2023 reverse mortgage limit for Federal Housing Administration (FHA)-insured Home Equity Conversion Mortgages (HECMs) stood at $1,089,300, but proprietary reverse mortgages are not subject to FHA limits.

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Tools Mortgage Finance Lending 459

Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 The news was first reported by legal website Top Class Action. million class action lawsuit to resolve claims surrounding a 2020 data breach.

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Legal Technology Insurance Lending 370

Housing Wire

AUGUST 25, 2021

A homeowners insurer trade group, which has mounted successful legal challenges of the standard in the past, said it sees no reason the rule should apply to its industry. Numerous industry stakeholders asked HUD to make some changes to the regulation to raise and further explain the threshold for disparate impact claims.

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Housing Wire

SEPTEMBER 30, 2021

Most digital solutions in the lending industry are designed to solve one problem and built for one audience in mind. This fragmentation makes it difficult for everyone involved in the lending process to communicate with each other effectively. Stavvy has the power to bring these disparate components together.

Real Estate 413

Real Estate Design Lending Agents 413

Housing Wire

FEBRUARY 3, 2025

More than just an accolade, this award highlights organizations that are transforming the housing sectorenhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending. These companies are at the forefront of solving the biggest challenges mortgage professionals face every day.

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Mortgage Valuation Lending Technology 417

Housing Wire

AUGUST 5, 2022

Some of the nearly 360 comments came in late on Thursday, a day before the deadline imposed by the Office of the Comptroller of the Currency , the Federal Reserve and the Federal Deposit Insurance Corporation. Numerous organizations criticized the agencies for not proposing to grade banks based on data about their minority lending.

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Lending Development Mortgage Retail 448

Housing Wire

MAY 13, 2024

Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish the VantageScore 4.0 historical dataset.

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Legal Mortgage Contracts Insurance 448

Housing Wire

MAY 20, 2021

He set his sights on CapLOC , a North Carolina-based mortgage lending business, and tried to sell CapLOC First Mortgage Company’s lending arm for a quick buck. McCord used escrow accounts, meant to pay homeowners’ taxes and insurance premiums, to cover First Mortgage Company’s operating expenses.

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Mortgage Government Lending Insurance 480

Housing Wire

SEPTEMBER 17, 2024

“There’s been an explosion in high-DTI lending since I left FHFA,” he said, pointing to the fact that some Federal Housing Administration (FHA) borrowers have a 57% debt-to-income ratio. When you start to see a world where homeowners insurance and property taxes all go up, we’ve got borrowers hovering around a 50% DTI.

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Property Taxes Government Legal Insurance 434

Housing Wire

MAY 13, 2024

But shocks to the mortgage market can deteriorate borrowers’ income, balance sheets and access to credit, affecting borrowers, government agencies, insurance companies and local governments. “I encourage Congress to remove any legal impediments to information sharing between Ginnie Mae and state regulators.

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Finance Government Mortgage Legal 476

Housing Wire

JANUARY 19, 2023

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. We are no closer to being paid and he had the capital to open up Smart Rate Mortgage,” said a former employee who requested anonymity due to an ongoing legal case.

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Mortgage Investors Legal Loan Officers 418

Housing Wire

SEPTEMBER 16, 2021

Kully previously worked at the Department of Housing and Urban Development as a senior attorney, in the legal division at Fannie Mae and as a partner at K&L Gates. For the first HW+ spotlight, we’re featuring Kris Kully, a partner at Mayer Brown. HUD had, and continues to have, so many dedicated experts (unsung heroes!)

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Finance Legal Training Development 397

Housing Wire

JANUARY 5, 2023

Former employees accuse the company of retroactively cutting off their health insurance on May 1, 2022 without prior communication. Meanwhile, the company allegedly collected insurance premiums from the employee paychecks. . The facts are under investigation by New York authorities.

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Insurance Loan Officers Mortgage Business 459

Housing Wire

APRIL 4, 2024

Meanwhile, community-focused trade groups and associations, although feeling that the new rules miss some relevant aspects of fair lending, criticized the judge’s decision. The following day, Martin Gruenberg, chairman at the Federal Deposit Insurance Corp. This week in Washington, D.C.,

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Modernization Law Legal Landlords 339

Housing Wire

MARCH 28, 2024

Yes, the process of orchestrating the collaboration of lenders, appraisers , home inspectors, one or two real estate agents, a title insurance company, and possibly others is complex. It doesn’t lend itself to a 24-hour cycle. Title production platforms are usually the backbone of a digital or partially digital title operation.

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HOA Property Management Real Estate Agent Technology 488

Housing Wire

JANUARY 22, 2025

Previously, the proprietary product line which Longbridge calls Platinum had its minimum amount aligned with FHA lending limits, but it has instead shifted to allow for properties with a minimum appraised value of $450,000. FHA lowers principal limits when interest rates go up, because the loan balance grows every month.

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Home Value Clients Legal Mortgage 396

Housing Wire

JUNE 11, 2021

“Something buyers aren’t aware of is that the appraisal process can take a while, depending on location, geography and the number of appraisers available at a company,” said Anthony Masseria, Vice President and Area Lending Manager at Citi. The Citi team wants you to feel confident during your home-buying journey.

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Inspection Appraisal Appraisal Process Buyers 459

Housing Wire

JULY 19, 2022

Agencies with existing fintech offices include the Federal Deposit Insurance Corporation , the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau. The FHFA said it was following in the footsteps of other financial regulators by establishing its own fintech office.

Mortgage 397

Mortgage Finance Technology Legal 397

Housing Wire

JULY 7, 2021

The same day Mr. Cooper announced the initiation of the Champion sale, the company also announced that it completed the sale of title insurance and settlement services provider Title365 to digital lending software company Blend Labs, Inc. in a deal valued at $500 million in cash and retained interest.

Mortgage 418

Mortgage Property Taxes Insurance Business 418

Appraisal Buzz

JUNE 4, 2024

According to CFPB Circular 2024-03 , companies use fine print tactics to try to trick consumers into believing they have given up certain legal rights or protections. When financial institutions take these types of actions, they risk violating the Consumer Financial Protection Act of 2010.

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Contracts Law Mortgage Legal 390

Housing Wire

FEBRUARY 3, 2025

The judge ultimately sided with RMF, finding that its lien held senior priority over the original mortgage, which the judge characterized as a novel legal question. HECM loans require borrowers to continue paying property taxes, homeowners insurance and if applicable HOA fees to keep their loan in good standing.

Mortgage 327

Mortgage HOA Law Property Taxes 327

Appraisal Buzz

JULY 3, 2024

The idea would forbid lenders from basing lending choices on medical information and restrict credit reporting companies from disclosing medical debts to lenders. As part of its efforts to alleviate the burden of medical debt and coercive credit reporting practices, the CFPB has proposed a rule. To read the full report, click here.

Legal 396

Legal Law Insurance Lending 396

Housing Wire

NOVEMBER 22, 2023

The process of orchestrating the collaboration of lenders, appraisers, home inspectors, one or two real estate agents, a title insurance company and possibly others is complex. It doesn’t lend itself to a 24-hour cycle. Title production platforms are usually the backbone of a digital or partially digital title operation.

HOA 459

HOA Real Estate Agent Technology Real Estate 459

Housing Wire

AUGUST 8, 2024

That gets rolled into their debt-to-income ratio, which means they look like a riskier buyer, which means their mortgage loan gets priced higher, which means they have an additional disadvantage because the cost of lending goes up for them. So, this is a further challenge for them to even enter the housing market.”

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Housing Market Marketing Mortgage Sellers 488