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GAO highlights reverse mortgage counseling in new report

Housing Wire

This program provides counseling to all applicants of the federally insured reverse mortgage program, the Home Equity Conversion Mortgage program,” the report stated. Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) counseling program was cited as an example.

Mortgage 318
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CFPB bans RMK Financial Corporation from mortgage lending industry

Housing Wire

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government. government.

Lending 371
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Payload partners with PDS to integrate SoftPro

Housing Wire

The American Land Title Association’s (ALTA) 2021 Wire Fraud and Cyber Crime Survey noted in a third of all real estate and mortgage transactions, title insurance professionals reported cyber criminals trying to deceive employees into wiring money to fraudulent accounts. . To boot, check fraud is also on the rise.

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Title giant Stewart sues Qualia over software licensing agreement dispute

Housing Wire

In 2015, Stewart was granted an “irrevocable and perpetual license” to install and use the ResWare software title production system product, which at that time was owned by Adeptive Software. After discussion, Qualia decided to extend the termination timeline to July 24, 2024.

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StreamLoan expands into insurtech with Progressive deal

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. This setup lets a consumer compare quotes from several insurers, including Progressive, with only one click. billion U.S.

Insurance 348
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Opinion: Why it’s time to cut mortgage fees

Housing Wire

CHLA has outlined how programs expressly designed to give younger Americans help in purchasing homes have been priced too high for actual risk. We have urged Washington policymakers to price housing insurance programs appropriately to actual risk, and not use these programs as budget devices to fund other federal budget priorities.

Mortgage 266
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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

If it appears to a VA appraiser that the appraised value of a property is going to come in below the pending sales price, the appraiser must contact the designated point of contact (POC) party that is specified in the appraisal order. If buyers cannot get insurance or it is very expensive, it will affect value.