Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Freddie Mac’s PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.

Legal 467

Legal Brokerage Mortgage Loan Officers 467

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands.

Lending 397

Lending Finance Loan Officers Legal 397

Housing Wire

MAY 4, 2022

The Federal Housing Finance Agency will now require lenders to provide data on borrowers’ language preferences in order to sell loans to Fannie Mae and Freddie Mac , a move which could invite fair lending lawsuits. The disclosure requirements could potentially be another data point for fair lending lawsuits.

Legal 397

Legal Lending Government Loan Officers 397

Housing Wire

MARCH 3, 2025

Sellers loan officers who agree to move over to Buyer may want (in addition to use of their team name which is typically an assumed name of Seller) to continue to use Sellers name for a period of time after closing, as part of their recognized brand. Nettleingham is a shareholder at Maddin Hauser.

Mortgage 409

Mortgage Sellers Buyers Business 409

Housing Wire

FEBRUARY 16, 2022

HousingWire recently sat down with Steve Meirink, executive vice president and general manager, Compliance Solutions, Wolters Kluwer’s Governance, Risk and Compliance Division, to discuss the impact of digital technology on mortgage and the future of digital lending in an era of accelerated innovation and digital transformation.

Lending 396

Lending Technology Tools Loan Officers 396

Housing Wire

NOVEMBER 17, 2023

The transition of three veteran sales executives from South Carolina-based lender Movement Mortgage to its California competitor Summit Funding led to a legal battle over poaching. Increasing the tone of the legal battle, Pennington filed a counterclaim against Movement requesting about $9.8 million in unpaid compensation.

Loan Officers 440

Loan Officers Legal Retail Finance 440

Housing Wire

MARCH 6, 2023

A former employee is suing the companies, alleging they “abruptly terminated hundreds of its employees” without giving legally required 60-day advance notice as required by the Worker Adjustment and Retraining Notification Act ( WARN Act ). HousingWire first reported on the Celebrity’s several layoff rounds on Feb. Volumes reached $5.9

Loan Officers 459

Loan Officers Retail Legal Lending 459

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. A spokesperson for District Lending did not immediately reply to a request for comment.

Contracts 468

Contracts Loan Officers Lending Retail 468

Housing Wire

MAY 6, 2024

As of Monday, the company had 2,824 sponsored loan officers and 860 active branch locations, per the Nationwide Multistate Licensing System (NMLS). Tiffany Fisher and her 44 teammates joined Fairway from Movement Mortgage , where they produced 1,174 loans for $223.1 billion, down 34.5% year over year.

Retail 448

Retail Loan Officers Lending Legal 448

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 435

Loan Officers Real Estate Legal Lending 435

Housing Wire

JUNE 30, 2021

The watchdog agency found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. The lender’s offices were concentrated in white neighborhoods, and nearly all of its loan officers were white.

Loan Officers 448

Loan Officers Lending Open Houses Legal 448

Housing Wire

FEBRUARY 10, 2025

If IMB executives fail to recognize this, they may risk legal and financial consequences. Regulatory framework still intact The Loan Originator Compensation Rule (15 U.S.C. 1639b), the Secure and Fair Enforcement for Mortgage Licensing Act ( SAFE Act ), and the Truth in Lending Act ( TILA ) remain fully enforceable.

Modernization 214

Modernization Legal Lending Loan Officers 214

Housing Wire

APRIL 9, 2024

Modern-day redlining persists, and it’s costing lenders millions in legal fees. Recently, the Department of Justice (DOJ) has taken a strong stance on redlining, taking direct legal action against bad actors and thrusting the topic into the national spotlight. Last October, Ameris Bank had to pay $9 million to settle a redlining case.

Modernization 450

Modernization Lending Legal Legal Fees 450

Housing Wire

MARCH 6, 2025

In late 2023, Union Home sued Go Mortgage and EMM Loans for accessing its trade secrets via the transition of former employees. The lawsuit news comes on the tails of UHM’s announcement of the acquisition of Houston-based Nations Reliable Lending (NRL).

Mortgage 254

Mortgage Loan Officers Contracts Lending 254

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 397

Contracts Loan Officers Best Value Legal 397

Housing Wire

JANUARY 9, 2025

A spokesperson at The Mortgage Firm told HousingWire thatthroughout its 29-year history, the company has been committed to providing equal credit access to all communities within its lending footprint. The complete absence of legal or regulatory violations on The Mortgage Firms record speaks for itself.

Investing 396

Investing Mortgage Lending Law 396

Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. The remainder transitioned to CrossCountry Mortgage , Synergy One Lending , Capital Bank , First Home Mortgage Corp. and NFM Lending. Loan officers earn their income when they fund loans.

Loan Officers 435

Loan Officers Human Resources Law Lending 435

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. “The The lender and LO can make or break the transaction.”

Buyers 418

Buyers Agents Loan Officers Real Estate 418

Housing Wire

JUNE 6, 2023

Rocket Mortgage is looking to hire local loan officers at a time when mortgage rates are high and the industry remains heavily reliant on the purchase market. According to Rocket’s job post, the loan officer position is remote and requires a minimum of three years of experience in mortgage loan origination.

Loan Officers 368

Loan Officers Mortgage Retail Real Estate Agent 368

Housing Wire

MARCH 30, 2023

A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor and Workforce Development shows the job cuts will affect mortgage loan officers, final “docs” associates, desktop support professionals and business solutions architects, among others. “As

Retail 435

Retail Loan Officers Legal Technology 435

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 418

Mortgage Landlords Loan Officers Legal 418

Housing Wire

JANUARY 25, 2024

Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA). But the crux of the commissioner’s findings focuses on unlicensed origination activities.

Loan Officers 434

Loan Officers Mortgage Finance Lending 434

Housing Wire

FEBRUARY 13, 2023

Darren Heitner, JIM’s attorney and founder at Heitner Legal , P.L.L.C, EPM, which has licenses in 50 states and provides an array of lending products, reached $1 billion in origination over the last 12 months, according to mortgage recruiting platform Modex. It’s mostly known for wholesale lending.

Contracts 383

Contracts Legal Lending Loan Officers 383

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 370

Mortgage Retail Loan Officers Lending 370

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.” Freedom had to pay a $1.75

Brokerage 418

Brokerage Realty Real Estate Loan Officers 418

Housing Wire

SEPTEMBER 25, 2024

loanDepot’s focus is on the sales side, attracting experienced loan officers (LOs) and people who want to join the industry via its accelerated career in effective sales (ACES) program. The data includes employees at parent companies and subsidiaries, in mortgage lending, servicing and other activities.)

Mortgage 459

Mortgage Loan Officers Retail Training 459

Housing Wire

FEBRUARY 1, 2023

While mortgage attorneys said the “Control your Price” initiative doesn’t appear to clearly cross the legal line, they raised compliance concerns — including rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts.

Construction 418

Construction Real Estate Agent Loan Officers Inspection 418

Housing Wire

AUGUST 29, 2023

Ozment was hired in April 2022 and was given access to Lower’s confidential information and trade secrets, including customer identification, financial information and lending objectives. He left the lender in a “sudden coordinated departure in November 2022,” Lower alleged in its suit.

Loan Officers 370

Loan Officers Lending Business Mortgage 370

Housing Wire

FEBRUARY 26, 2024

OneTrust Home Loans , a direct competitor of Newrez’s retail mortgage business, conspired with James Hecht, former Newrez executive vice president for national retail lending, to orchestrate the termination of several Newrez executives and have them join OneTrust, according to the suit filed Feb. 21 in the U.S.

Retail 448

Retail Legal Lending Business 448

Housing Wire

SEPTEMBER 23, 2024

I’ve been in the consumer marketing space my whole career — mostly in financial services, starting at Capital One — but also a bit in other areas like legal services,” Lenoir said. “I I enjoy marketing to consumers, and I find the challenge really rewarding. I think the reverse mortgage product category is a big marketing challenge.

Marketing 448

Marketing Retail Advertising Loan Officers 448

Housing Wire

NOVEMBER 23, 2022

Over the last year, it has also sold off large chunks of the business – including sub-servicing with ServiceMac and delegated correspondent to Planet Home Lending – which accounts for several thousand workers transitioning to new firms. Since relaunching operations, Interfirst also hired teachers and first responders to be loan officers.

Marketing 397

Marketing Loan Officers Business Mortgage 397

Housing Wire

JANUARY 19, 2023

The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex. 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 418

Mortgage Investors Legal Loan Officers 418

Housing Wire

JANUARY 24, 2023

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices.

Lending 370

Lending Law Training Legal 370

Housing Wire

MARCH 22, 2021

I discerned, frankly, that these companies all had good legal counsel and would address their reply to this very unusual policy proclamation in their own way. Take fair lending concerns for a minute. And if the borrowers are minority applicants, are there any fair lending implications that should be considered? No lender does.

Business 539

Business Retail Mortgage Lending 539

Housing Wire

JANUARY 5, 2023

Tech mortgage platform Modex shows Loan America originated $95 million in mortgage loans in the last 12 months, going from about $14 million in February to $4 million in November. The company has one branch and 11 active loan officers.

Insurance 459

Insurance Loan Officers Mortgage Business 459

Housing Wire

SEPTEMBER 30, 2021

The adoption of digital lending solutions has been increasing over the last few years, with the COVID-19 pandemic only accelerating the process. We’ve been at this a long time, so we understand our clients’ need for agile and technology-forward lending platforms to help them sustain and scale critical business processes.”.

Technology 399

Technology Supply Chain Clients Design 399

Housing Wire

JUNE 29, 2023

That’s not the Orange County, California-based lender’s only poaching legal battle. Since April 2022, the company filed three lawsuits against CrossCountry Mortgage in New York , California and Illinois. In early June, a judge in the N.Y.

Retail 448

Retail Contracts Legal Business 448