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Fintech Stavvy acquires servicing tech firm Brace

Housing Wire

Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, acquired Brace , a digital mortgage servicing platform. Founded in 2018 , Stavvy works to increase efficiency and transparency in real estate and mortgage lending. Terms of the deal were not announced.

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ESSA Bank to pay $3M to settle DOJ’s redlining allegations

Housing Wire

District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. According to a complaint filed by DOJ in the U.S.

Lending 262
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Redfin: Former redlined neighborhoods at massive flood risk

Housing Wire

of households in current neighborhoods that were once designated undesirable for mortgage lending are non-white, compared with 40.4% of households in current neighborhoods that were labeled desirable for lending. Presented by: Ylopo. Per Redfin, 58.1% and Chicago. of homes worth approximately $2.6

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The fate of HUD

Housing Wire

A spokesperson for HUD said the agency could not discuss investigations or strategy of fair lending enforcement, but said that fair lending is a priority of the Biden-Harris Administration and HUD. In August, HUD Secretary Marcia Fudge signed an agreement with the Federal Housing Finance Agency to strengthen fair lending enforcement.

Insurance 328
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Orchard raises $69M in Revolution-led Series C

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. Knock this year shifted into lending ). Orchard has also raised a total of $220 million in debt financing since its September 2017 inception.

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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

This initiative was subsequently reaffirmed in the issuance of VA Circular 26-17-18 in July 2017. 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.

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Appraisers: What should you have in your car?

Appraisal Today

Architect Adam Dayem designed the unique 2,500-square-foot residence, which was completed in 2017 after several years of construction. Many homes were re-zoned a few years ago and needed flood insurance. Earthquake insurance is available but expensive. Nearly 46 acres of land with forest surrounding it. 2,500 sq.ft.,