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Kelly Davids named president of The Appraisal Foundation

Housing Wire

Davids, who has been a foundation staff member since 2013 as a senior vice president, is also a former foundation trustee and has served various roles in Ohio politics over the past 40 years. At that time, outgoing president Dave Bunton informed the foundation that he would be retiring at the end of his current contract.

Appraisal 349
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New York City Housing Authority employees charged in sweeping bribery and extortion case

Housing Wire

The earliest alleged conduct goes back to 2013 and continued until as recently as 2023, he added. The defendants allegedly demanded between 10% and 20% of the contract value, with amounts ranging from $500 to $2,000 depending on the size of the contract. Department of Labor OIG and others, Williams said.

Contracts 349
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Keller Williams faces three lawsuits tied to its profit-sharing program 

Housing Wire

Allegations include breach of contract and unjust enrichment, with damages sought at $250 million. Hill, a former KW agent from 2002 to 2013, filed a similar complaint in the U.S. On March 22, Moulder, who worked with Keller Williams from 2002 to 2011, filed a complaint aiming for class-action status in the U.S. On March 25, Robert E.

Brokerage 488
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Mortgage credit availability tightened in May

Housing Wire

With this decline in availability, the MCAI is now at its lowest level since January 2013.” The jumbo index had its first contraction in three months, as some depositories assess the impact of recent deposit outflows and reduce their appetite for jumbo loans, Kan said. and the Conforming MCAI dropped by 3.9%.

Mortgage 337
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Trade groups express concern to FHFA over historic credit data

Housing Wire

The VantageScore dataset that is scheduled to be made available includes information going back to 2013, which is not far enough, the groups assert. FHFA was comfortable approving VantageScore 4.0 for use by the GSEs based on limited historical data,” the letter reads.

Legal 340
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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Due to the significant contraction in the overall mortgage industry, we have made the difficult decision to exit the correspondent lending business,” Chuck Williams, president and CEO, said in a statement. Northpointe became an approved seller and servicer for Freddie Mac in 2013, Fannie Mae in 2014 and Ginnie Mae in 2016.

Lending 351
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Housing starts data lags reality of higher mortgage rates

Housing Wire

This happened in 2013-2014, and in 2018 when mortgage rates moved toward 5%. It takes forever to finish a home, and now the builders are dealing with the reality of borrowers who went into contract with sub-4% rates and are now dealing with 5%+ rates. Nothing has been easy in housing since 2020.

Mortgage 448