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.

Modernization 386

Modernization Law Lending Insurance 386

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.

Law 445

Law Valuation Legal Government 445

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.

Valuation 396

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.

Mortgage 502

Mortgage Government Retail Lending 502

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.'”

Finance 503

Finance Investing Lending Legal 503

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.

Mortgage 404

Mortgage Legal Development Insurance 404

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.

Legal 374

Legal Insurance Development Mortgage 374

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.

Technology 283

Technology Law Lending Legal 283

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.

Lending 418

Lending Development Mortgage Retail 418

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.

Mortgage 417

Mortgage Investors Legal Loan Officers 417

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.

Legal 316

Legal Technology Insurance Lending 316

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.

Tools 384

Tools Mortgage Finance Lending 384

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.

Retail 332

Retail Finance Realty Technology 332

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.

Legal 320

Legal Insurance Law Mortgage 320

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.

Finance 431

Finance Government Mortgage Legal 431

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.

Legal 374

Legal Mortgage Contracts Insurance 374

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.

Insurance 409

Insurance Loan Officers Mortgage Business 409

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.

Inspection 458

Inspection Appraisal Appraisal Process Buyers 458

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 300

Real Estate Design Lending Agents 300

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.

Property Taxes 350

Property Taxes Government Legal Insurance 350

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.

Contracts 390

Contracts Law Mortgage Legal 390

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!)

Finance 323

Finance Legal Training Development 323

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 406

Mortgage Property Taxes Insurance Business 406

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.

HOA 439

HOA Property Management Real Estate Agent Technology 439

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.

Mortgage 364

Mortgage Government Lending Insurance 364

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 357

Mortgage Finance Technology Legal 357

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 430

HOA Real Estate Agent Technology Real Estate 430

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.,

Modernization 249

Modernization Law Legal Landlords 249

Housing Wire

FEBRUARY 27, 2024

In the early 20th century, Black Americans faced significant barriers to homeownership, including racial segregation, discriminatory lending practices, and exclusionary covenants that prevented them from buying homes in certain neighborhoods. But it wasn’t enough.

Real Estate 427

Real Estate Investors Business Lending 427

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.”

Housing Market 446

Housing Market Marketing Mortgage Sellers 446

Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. Half my work is non-lending work, and that’s been a blessing. So what can we do?

Business 393

Business Appraisal Real Estate Agent Lending 393

Cleveland Appraisal Blog

AUGUST 25, 2022

Keep in mind that investment homebuyers will be required to put down a minimum of 15% to secure financing, according to Lending Tree. When you run a business, and owning rental property is a business , you’re almost always better off forming a legal business structure. Another crucial step is to figure out how much you can afford.

Investing 332

Investing Renovations Landlords Real Estate 332

Housing Wire

JUNE 27, 2023

Bush and a vice president at Goldman Sachs before starting at the lender in 2021, listed several alleged violations related to lending practices. In its seventh securitization on June 14, The Change Company attracted 16 investors to a $306 million offering, including money managers, banks, insurance companies, and private funds.

Investors 305

Investors Law Insurance Lending 305

Appraisal Buzz

JUNE 7, 2024

As Director, Chopra is also a member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and the Financial Stability Oversight Council (FSOC). In 2011, the Secretary of the Treasury designated him as the agency’s student loan ombudsman, where he led the Bureau’s efforts on student lending issues.

Contracts 195

Contracts Insurance Legal Business 195

Housing Wire

JULY 28, 2023

It follows a request from the shuttered lender to halt the agreement due to an involuntary bankruptcy petition filed by three creditors. New Wave Lending Group , JMJ Financial Group and EF Mortgage filed on July 5 an involuntary petition against Sprout under Chapter 7 of the Bankruptcy Code in a New York court, claiming the lender owes $1.3

Mortgage 282

Mortgage Insurance Lending Business 282

Housing Wire

FEBRUARY 8, 2022

Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. So, I don’t expect to see a lot of activity in courts or in the legal system to accelerate the foreclosure process.”.

Law 339

Law Mortgage Legal Finance 339