Remove 2017 Remove Insurance Remove Lending Remove Loan Officers
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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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Housing sector dominates Inc. 5000

Housing Wire

Griffin Funding was the fastest housing sector grower in 2017. Lending Heights ( 592% growth) President Jason Cecco said his focus was on “empowering our team members to thrive, which leads to the best customer experience.”. Aaron Strawn, senior loan officer at Ruoff Mortgage (294% growth) pointed to his company’s leadership. “We

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Interfirst Mortgage raises $175 million

Housing Wire

The company ceased operations in July 2017 after years of declining volumes. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform. It’s also made a push to hire teachers and first responders to be loan officers. The originations went from $14.1

Mortgage 278
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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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Inside the government’s feeble fight to end redlining

Housing Wire

The three agencies in charge of such reviews — the Federal Reserve , the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency — have not denied a single bank merger in 15 years. And HUD can bring lawsuits claiming bias in mortgage lending. But there was a catch.

Lending 346
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Housing Market Tracker: Spring inventory falls

Housing Wire

2017 99,880 2016 88,105 2015 94,101 As you can see in the chart below, new listing data is very seasonal; we don’t have much time to get some more growth here. From the Department of Labor : Initial claims for unemployment insurance benefits increased by 13,000 in the week ended April 29, to 242,000.

Inventory 481
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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

The mortgage loan officer handling the loan? This initiative was subsequently reaffirmed in the issuance of VA Circular 26-17-18 in July 2017. In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. Was it the borrower? A Zillow Zestimate?