article thumbnail

Japanese luxury-home developer plans U.S. IPO

Housing Wire

a developer of luxury single-family homes and condominiums, which also has residential leasing operations in Dallas, is looking to raise up to $30 million via the U.S. IPO to continue developing its business operations in Japan, to expand a startup online listing network and for general corporate purposes. stock market. stock exchange.

article thumbnail

HUD sued over alleged failure to refund mortgage insurance premiums

Housing Wire

Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. ” This is a developing story. million in unclaimed refunds.

Insurance 443
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FDIC finds banks violated RESPA on mortgage brokerage payments

Housing Wire

In its March Supervisory Highlights, the FDIC stated that many institutions have developed policies and procedures to ensure sufficient mortgage broker services are provided in order to receive compensation , which was the first of a two-part test. There are some caveats related to counseling services, referrals, and duplicative work.)

Brokerage 337
article thumbnail

Guaranty Home Mortgage hires EVP to expand retail channel

Housing Wire

The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans. He was in charge of growing the mortgage banking platform and focusing on branch development within the middle Tennessee area. Like its competitors, Guaranty Home Mortgage was affected by rising mortgage rates in 2022.

Retail 344
article thumbnail

Nick Bailey out, Amy Lessinger in at RE/MAX

Housing Wire

Lessinger previously served as senior vice president of regional development at RE/MAX. Bailey initially joined RE/MAX in 2001, serving in various roles including as a management consultant, regional director and regional vice president.

Agents 326
article thumbnail

Clear Capital launches APIs to make adopting modern valuations solutions easier 

Housing Wire

Last month, the Federal Housing Finance Agency released plans, developed by Fannie Mae and Freddie Mac , to make the housing market more equitable, in part through changes to the appraisal process. The two desktop appraisal solutions were developed to meet new desktop appraisal guidelines in April. .

article thumbnail

Clear Capital will lay off 27% of its workforce

Housing Wire

Established in 2001, the Nevada-headquartered company delivers solutions to modernize the appraisal process, which may take days to weeks to complete, or even longer during booming markets. Real estate valuation technology company Clear Capital will cut 27% of its workforce across its offices in the U.S.

Valuation 357