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Another lender settles redlining accusations with DOJ

Housing Wire

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. million consent order with Trident Mortgage Co., Attorney General Merrick Garland said in a statement.

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The fate of HUD

Housing Wire

Independent mortgage banks have been “completely blindsided” by the increase in enforcement activity, said Daniella Casseres, who leads the mortgage regulatory practice group at law firm Mitchell Sander. As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality.

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Real estate tech roundup: Shaker, zavvie and Homie

Housing Wire

“Zavvie Pro keeps the modern agent at the center of every sales transaction, no matter what the homeowner decides,” Lane Hornung, zavvie co-founder, and CEO, said in a statement. “Webuilt zavvie Pro to help the modern agent generate more seller leads, win more listings, and always earn a commission.”.

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“It’s math:” How mortgage solutions companies are fighting for survival

Housing Wire

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. Businesses and entire industries tanked during the pandemic, but it created an ideal environment for mortgage tech companies, some of which rode the wave to banner years and historic growth.

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FHA Commissioner Julia Gordon gets to work

Housing Wire

During her visits, one thing stood out to Golding, who served as the Department of Housing and Urban Development ’s principal deputy assistant secretary from 2015 to 2017. In March 2021, Fudge said that the agency had “no near-term plans” to change FHA’s mortgage insurance premium pricing. Will Gordon cut mortgage premiums?

Insurance 311
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The hybrid appraisal is here. Who benefits?

Housing Wire

The company, which employs about 17 people, was founded in 2015, and is one of those approved to provide the Freddie Mac data report for its new remote inspection program. Beginning July 17, Freddie Mac will accept some mortgages with hybrid appraisals — but the list of caveats is lengthy. First, the option only applies to refinances.

Appraisal 401
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. In 2015, the family paid $250,000 for a 2,900-square-foot house in Ormond Beach, Florida. “They’ve had a manageable budget due to mortgage forbearance. .

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