Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. The post Real estate brokerage Radius unveils mortgage-lending arm appeared first on HousingWire.

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Housing Wire

MARCH 17, 2025

According to the complaint, Newhart and the other defendants transferred “things of value,” specifically underpriced, nonvoting stock in Newhart-owned mortgage brokerages to real estate agents and brokers, who in return referred their clients back to the Newhart-owner mortgage brokerages.

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Housing Wire

JANUARY 27, 2025

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

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Contracts Mortgage Property Taxes Law 370

Housing Wire

OCTOBER 21, 2024

In a high(er) rate environment, non-QM (non-qualified mortgage) lending continues to play an increasingly pivotal role. To explore how Acra Lending has adapted to these shifts, we sat down with Ryan Barrus, a key player in the company’s non-QM division. HW: Acra Lending recently launched its Glide portal. RB: Absolutely.

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Housing Wire

MARCH 7, 2025

While this means stepping away from our lending business in Canada, we thank our team members who have helped us expand over the last five years. JMG and its founder, Jason Mitchell , were also accused of participating in the alleged scheme by referring thousands of clients to Rocket entities.

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Housing Wire

JUNE 30, 2021

The ideal real estate agent-lender relationship is symbiotic: the agent earns trust with their borrowers by connecting them with a great lending resource, while the lender receives a steady stream of business from the agent. As a lender, you know that most lending institutions actually charge around the same rates. Simple, right?

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Housing Wire

OCTOBER 30, 2023

In a recent interview with HousingWire, loanDepot CEO Frank Martell said the company is not chasing business that doesn’t make sense but trying “to make sure our focus is on the strategic growth areas that we think will contribute to the first-time homebuyer, diverse lending and affordable” lending.

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Housing Wire

OCTOBER 23, 2024

“Credit card, auto and student loan debt are currently at all-time highs, and so it is not surprising that debt consolidation is the fastest-growing category in home equity lending,” FirstClose chief product officer Ramiro Castro said in a statement.

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Housing Wire

DECEMBER 14, 2021

In a blog post, Fannie Mae and Freddie Mac ’s regulator and conservator said it found examples of “overt references to race, ethnicity, and other prohibited bases under federal fair lending laws,” which FHFA said indicate the “continued presence of valuation bias.”.

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Housing Wire

AUGUST 30, 2021

The DOJ opened its investigation after the OCC referred the matter, the department noted.). Per the agreement, the bank is also expected to dedicate at least four mortgage LOs to majority- Black and Hispanic neighborhoods in Houston and employ a director of community lending and development who will oversee these efforts, the DOJ said.

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Housing Wire

OCTOBER 15, 2024

There’s a growing curiosity about integrating reverse mortgage capabilities into existing lending platforms. This landmark development will establish uniform data standards for reverse mortgages, potentially opening the door for wider adoption and integration across the lending industry,” according to the Mortgage Cadence post. “It

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Housing Wire

NOVEMBER 11, 2021

(The Title I program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.). FHA’s property improvement program provides financing that “improve livability of utility of a property through a secured on unsecured loan,” the press release said.

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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. FHFA declined to comment.

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Housing Wire

MARCH 29, 2024

It referred another 10% to other regulatory agencies and found 6% to not require action. billion in total to settle multiple consent orders related to auto lending, consumer deposit accounts and mortgage lending. As of March 1, 2024, less than 0.1% of these complaints were pending with the consumer and less than 0.1%

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Housing Wire

DECEMBER 23, 2022

. “The Associate Director of FHFA’s Office of Fair Lending Oversight informed us that the Agency does not file complaints with the state licensing authorities and has no policy in place on the subject,” the report said.

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Appraisal Lending Law Finance 370

Housing Wire

AUGUST 5, 2024

roughly three in five — now have at least $100,000 in tappable home equity, which refers to the amount of equity they can access while maintaining a stable 20% equity “cushion.” The ICE Mortgage Monitor report for August showed that 32 million mortgage borrowers in the U.S. There are 4.6 L]enders would do well to prepare,” he said.

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Housing Wire

JULY 6, 2023

The Consumer Financial Protection Bureau (CFPB) released its 2022 Fair Lending Annual Report to Congress last week, which illustrates how it took aim last year at redlining and appraisal discrimination in pursuit of its enforcement and supervision, guidance and rulemaking, interagency coordination, and outreach and education missions.

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Housing Wire

JULY 31, 2023

Mike Cagney’s Figure Technologies laid off 20% of its staff and plans to take its profitable lending business public next year, Bloomberg reported. Figures’ lending business hit a record $900 million in origination and generated $2.7 The layoff came as a surprise to many as Figure has been hitting financial milestones.

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Lending Valuation Business Technology 370

Housing Wire

DECEMBER 17, 2021

Fair lending laws and regulations have 60% of respondents very or somewhat concerned. The CFPB has made it clear, already, that fair lending enforcement is a top priority. Brainard spearheaded a 2020 notice of advanced rulemaking that included an overt reference to racial equality. It’s no mystery why.

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Housing Wire

JULY 2, 2024

A new report by IDIQ® , a financial intelligence company, details top consumer credit concerns provided by mortgage , real estate, and lending professionals as well as borrowers themselves. As the third area in our investigative journey, IDIQ surveyed industry partners, given their alignment in solving consumer credit challenges.

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Housing Wire

FEBRUARY 17, 2021

Non-QM lending is poised for growth in 2021. HousingWire recently spoke with Mike Fierman, managing partner and co-CEO of Angel Oak, about the non-QM lending outlook for 2021 and how Angel Oak’s “originate to hold” model benefits originators. Presented by: Angel Oak. .

Finance 435

Finance Lending Business Technology 435

Housing Wire

MARCH 6, 2023

Celebrity’s retail channel, former employees said, was in a tailspin only six months after the company shut down its correspondent lending division. According to the lawsuit, the unpaid compensation for many employees refers to the entire month of January and the first half of February. 14, citing multiple sources.

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Loan Officers Retail Legal Lending 459

Housing Wire

JUNE 4, 2024

These actions follow the Supreme Court’s decision to reject a broad challenge to the CFPB’s funding mechanism brought by payday lending groups led by the Community Financial Services Association of America (CFSA). A Supervisory Highlights from the Summer of 2015 refers mainly to home equity installment loan agreements.

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Housing Wire

JANUARY 10, 2025

“In line with guidelines from our lending partners and other entities that own or insure mortgages, NAF will offer forbearance assistance to customers whose homes are uninhabitable or who cannot work due to the wildfires,” the company told RMD in a statement. In this particular case, that will be Jan.

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Insurance Mortgage Clients Finance 397

Housing Wire

SEPTEMBER 28, 2021

Largely driven by record-low mortgage rates, lending volume surpassed everyone’s expectations in the past year. In the wake of this unparalleled volume, companies across the housing industry have been working to increase the efficiencies of the entire lending process – including getting closings correct the first time around.

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Lending Real Estate Agent Business Agents 370

Housing Wire

OCTOBER 9, 2024

In reference to the purchase market, Fratantoni observed that a couple key factors continue to play a role in consumer demand. “As MBA data showed that government lending continues to represent a steady share of the mortgage market. of new applications. For the week ending Oct. of all applications, while U.S.

Mortgage 458

Mortgage Government Retail Contracts 458

Appraisal Buzz

JUNE 26, 2024

This appraisal is used by mortgage lenders to calculate the maximum amount they will lend on a property. These models can resemble what many people refer to as artificial intelligence as they become more complicated and incorporate more factors. A proper home appraisal is essential whether purchasing or selling a property.

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Appraisal Tools Appraisal Process Real Estate 391

Housing Wire

JULY 24, 2024

Overarching mission Morales explained that the overarching goal of the group lies in the development of a MISMO reverse mortgage reference model, along with the convening of different work products to provide holistic support for reverse mortgage professionals.

Mortgage 459

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Housing Wire

OCTOBER 3, 2024

This can lead to an onslaught of calls to the consumer vying for their lending business. Congress must pass the NDAA each year, since it refers to laws that specify the annual budget for the U.S. Department of Defense. Broeksmit said that MBA is pleased with this development.

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Housing Wire

FEBRUARY 16, 2022

The following are some helpful suggestions for vetting a private money lender: Request a list of references for other real estate investors who have recently completed transactions with the lender. If your state requires a lending license, make sure a the lender is licensed. Establish a private money lending network for real estate.

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Housing Wire

JANUARY 2, 2024

It wasn’t immediately clear what restructuring Mosiello was referring to. However, two former employees said the company communicated it’s shutting down its mortgage lending business. . “As money comes in during the restructuring, it is RealFi’s intention to make all employees whole.”

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Loan Officers Lending Mortgage Insurance 459

Housing Wire

AUGUST 5, 2021

In a statement, CredEvolv said it seeks to “combat inequity in the lending industry by providing a path for credit-challenged consumers, particularly those who are underserved, to realize their goal of homeownership.”. Credit counselors may lack the commercial expertise to navigate changing trends in lending, Walker added.

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Lending Mortgage Tools Technology 476

Housing Wire

SEPTEMBER 16, 2021

For reference, in 2018, zero one-office firms recorded a sales volume above $250 million. The share of firms making a percentage of net revenue from ancillary services, such as relocation services, mortgage lending, title and escrow services, and home improvement services, increased from 39% in 2018 to 42% in 2021.

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Real Estate Business Brokerage Open Houses 472

Housing Wire

JUNE 30, 2023

For reference, you can look at how much has shifted from the 2023 forecasts until now, though I’d argue Logan Mohtashami has been steadily keeping us all ahead of the curve. With 100 days until we’re all gathered at the Hyatt Lost Pines in Austin, Texas, we are fully aware that a lot can happen in the industry between now and then.

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Housing Wire

AUGUST 5, 2022

Numerous organizations criticized the agencies for not proposing to grade banks based on data about their minority lending. Above all, we are extremely disappointed to see the lack of the explicit consideration of lending by race in a lender’s CRA rating,” wrote the St. Louis Equal Housing and Community Reinvestment Alliance.

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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.

Mortgage 459

Mortgage Legal Development Insurance 459

Housing Wire

FEBRUARY 7, 2024

In the realm of rural housing, the coalition recommends that the GSEs address what it calls the “Section 515 preservation crisis,” referring to the rural rental housing loan program established by the Housing Act of 1949.

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