Housing Wire

JANUARY 11, 2024

When [RMF] defaulted on its obligations, GNMA exercised its right to extinguish RMF’s interest in certain mortgages in order to ensure the timely payment to investors in securities backed by those mortgages,” the filing reads. District Court for the District of Delaware.

Lending 401

Lending Government Legal Law 401

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.” Lending is lending. Similar to consumer lending, you may consider a simplified tradeline-level AUS scorecard to deliver an instant decision to applicant(s).

Real Estate 532

Real Estate Mortgage Property Taxes Law 532

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. now known as Rithm Capital. “We

Construction 414

Construction Development Finance Lending 414

Housing Wire

FEBRUARY 10, 2021

Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development. Perry joined Freddie Mac in 2011 to oversee the company’s fair lending program. She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase.

Investors 529

Investors Development Legal Business 529

Housing Wire

JUNE 1, 2021

HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. How hybrid title and valuations help increase lending efficiency. Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer.

Renovations 516

Renovations Development Investors Legal 516

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

Legal 195

Legal Technology Law Government 195

Housing Wire

OCTOBER 2, 2020

Nonbanks are intermediaries that originate loans to the terms of the ultimate investor. These investors included the GSEs, the Ginnie Mae programs, larger bank portfolios, and Wall Street firms. Nonbanks do not set the rules of lending. They sell all of their loans to investors.

Investors 524

Investors Government Lending Mortgage 524

Housing Wire

JUNE 15, 2021

Sprout said it intends to grow its retail channel through increased direct sales to consumers and residential investors, dedicated retail facilities, and joint ventures. In the last six months, Sprout has unveiled a series of new products for it non-QM program , resumed correspondent lending.

Retail 352

Retail Mortgage Legal Lending 352

Housing Wire

MARCH 22, 2021

John Hedlund: Non-delegated lending can serve multiple purposes for different types of lenders. For mortgage brokers looking to make the jump to mortgage banking, non-delegated lending is the perfect way to build the resume they need on their journey to a fully delegated, agency-approved seller and servicer.

Business 438

Business Lending Investors Sellers 438

Housing Wire

NOVEMBER 7, 2022

According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. Athas Capital has been credited for “pioneering the re-birth of ‘sane’ subprime lending,” according to the company website. and Sprout Mortgage.

Lending 453

Lending Investors Business Mortgage 453

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. ,

Legal 397

Legal Law Clients Technology 397

Housing Wire

MAY 24, 2021

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators. Presented by: Sagent Lending Technologies.

Technology 385

Technology Lending Investors Modernization 385

Housing Wire

JULY 14, 2022

Non-QM lender Kiavi , which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday. Because we are in the hard money space, we don’t have a lot of investors willing to buy our assets because of the rate hikes, is what our CEO told us.”.

Human Resources 392

Human Resources Investors Construction Legal 392

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

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. New Wave said it requested bids from multiple investors from Jan. 20, 2022, to Feb. Presented by: Polly.

Mortgage 361

Mortgage Legal Lending Investors 361

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. Through Guild Holdings, the lender’s management and the private equity investors planned to issue 8.5

Mortgage 502

Mortgage Government Retail Lending 502

Housing Wire

AUGUST 13, 2024

The Consumer Financial Protection Bureau (CFPB) on Tuesday released an advisory opinion stating that contracts for deed are under federal home lending rules and should provide consumer protections. The government is taking action to ensure that these products do not turn the dream of homeownership into a nightmare.” among subprime loans.

Contracts 408

Contracts Mortgage Law Sellers 408

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

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. New Wave said it requested bids from multiple investors from Jan. 20, 2022, to Feb. Presented by: Polly.

Mortgage 349

Mortgage Legal Lending Investors 349

Housing Wire

JANUARY 19, 2023

The Smart Rate website mentions that the mortgage lender offers purchase and refinancings, jumbo, FHA, adjustable, bank statement and investors loans. 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 9, 2024

District Court in Detroit, the suit alleges that EasyKnock uses a “deceptive and unfair lending scheme” to “lure homeowners with poor credit, but with significant home equity, into unlawful, usurious loans known as ‘Sell & Stay’ transactions.” EasyKnock was founded in 2016 and is based in New York City. The platform closed a $3.5

Lending 392

Lending Law Investors Advertising 392

Housing Wire

OCTOBER 30, 2024

A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. The state’s banking commission also charged the firm with violations of the Truth in Lending Act and the Fair Credit Reporting Act.

Landlords 396

Landlords Loan Officers Lending Contracts 396

Housing Wire

NOVEMBER 17, 2023

The deal was made public four months ago and created a dispute among investors to take the firm, leading Rithm to increase its price by 14% compared to the original bid. The transaction also created legal battles with Sculptor’s shareholders and founders, including Daniel S. Och, but the parties settled the cases in court.

Investors 400

Investors Real Estate Investing Legal 400

Housing Wire

OCTOBER 10, 2024

Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The regulator also charged the company with violations of the Truth in Lending Act and Fair Credit Reporting Act.

Mortgage 366

Mortgage Landlords Loan Officers Legal 366

Housing Wire

DECEMBER 11, 2020

LendingHome , which focuses on lending to real estate investors, named Michael Bourque as CEO after he served as LendingHome’s chief operating officer and chief financial officer since joining the company in August 2018. The leadership change comes as Thomas Black, Jr. 31, when he will join Calvin Mann as counsel to the firm.

Lending 336

Lending Legal Clients Development 336

Housing Wire

FEBRUARY 9, 2023

The lenders, both privately held, will retain their names and brands after the transaction, but APMC will be the new legal entity as the companies come together. The merger will result in an “increased lending footprint” to better serve clients, Paul Kessel, president of American Portfolio, said in a statement.

Mortgage 333

Mortgage Retail Loan Officers Lending 333

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.

Mortgage 404

Mortgage Legal Development Insurance 404

Housing Wire

MAY 17, 2022

Founded in 2000, Irvine, California-based Inco-Check leverages its proprietary web-based platform to support GSE, regulatory agency, and investor requirements. With NGC’s acquisition of Inco-Check, the company aims to enhance loan quality and prevent fraud in a competitive mortgage and consumer lending market, Inco-Check said.

Logistics 296

Logistics Investors Legal Technology 296

Housing Wire

FEBRUARY 10, 2021

Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development. Perry joined Freddie Mac in 2011 to oversee the company’s fair lending program. She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase.

Investors 357

Investors Development Legal Business 357

Housing Wire

JUNE 28, 2023

Ultimately, the lender packages the loan to sell to an investor, who doesn’t trust any of the data in the file, and the process starts all over again, Graham noted. If AI can confirm for all parties – including the lender, borrower and investor – that the data is correct, the cost to originate loans will go down, according to Graham.

Mortgage 355

Mortgage Investors Legal Lending 355

Housing Wire

AUGUST 6, 2024

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

Government 395

Government Mortgage Contracts Legal 395

Housing Wire

OCTOBER 24, 2024

As far as we are aware, this is the first time that an investor has offered these kinds of protections in the reverse mortgage space,” Pistone said in an interview with HousingWire ’s Reverse Mortgage Daily (RMD). “We We have been the fastest-growing wholesale investor in the space over the past couple of years,” he said. “If

Client Relationships 398

Client Relationships Clients Investors Business 398

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. Tech company Azimuth GRC has hired Chris Phillips as its chief technology officer and investor.

Technology 283

Technology Law Lending Legal 283

Housing Wire

OCTOBER 18, 2022

A sharp rise in mortgage rates this year saddled Sprout with tens of millions of dollars in loans it couldn’t sell to investors in the secondary market at par and, consequently, the company was not able to pay its business partners and employees. Since its closing, the company has been the target of several lawsuits.

Contracts 376

Contracts Law Legal Mortgage 376

Housing Wire

APRIL 20, 2022

eVaults also support an enhanced customer experience for borrowers and streamline interactions with other participants — warehouse lenders, investors, servicers, etc. eNotes and eVaults deliver operational and cost efficiencies for originators, warehouse lenders, investors, custodians and trustees. within the mortgage ecosystem.

Lending 304

Lending Investors Technology Business 304

Housing Wire

FEBRUARY 2, 2024

The remainder transitioned to CrossCountry Mortgage , Synergy One Lending , Capital Bank , First Home Mortgage Corp. and NFM Lending. Commissions, however, are to be disbursed within a “reasonable timeframe following the expiration of the investor recapture period published on the Company’s intranet,“ the letter read.

Loan Officers 397

Loan Officers Human Resources Law Lending 397

Housing Wire

FEBRUARY 13, 2023

The stock car team is also accusing EPM of breaching the contract by failing to make more than $4 million in sponsorship payments following a “margin call” from its investors. Darren Heitner, JIM’s attorney and founder at Heitner Legal , P.L.L.C, It’s mostly known for wholesale lending.

Contracts 284

Contracts Legal Lending Loan Officers 284