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The CFPB is going after ‘junk fees’ mortgage lenders charge at closing. This could get ugly

Housing Wire

Biden’s plan also included a $10,000 tax credit for first-time homebuyers and people who sell their “starter home,” and a pilot program that waives the requirement for lender’s title insurance on certain refinance transactions. These costs increased by 21.8% from 2021 to 2022, reaching nearly $6,000, per the CFPB post.

Mortgage 427
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Citywide Home Loans settles a $1.2M data breach lawsuit

Housing Wire

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 million class action lawsuit to resolve claims surrounding a 2020 data breach. The news was first reported by legal website Top Class Action.

Legal 316
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Stone Point Capital, Insight Partners to purchase CoreLogic

Housing Wire

This would be a premium of 51% to CoreLogic’s unaffected share price as of June 25, 2020. Strategies lenders should adopt from direct to consumer lending. Join expert panelists to learn how the pandemic is ushering in a new era of digital lending and leading to the formation of a hybrid lending model. Sign up here.

Legal 409
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Feds seek to enlist real estate agents in anti-corruption push

Housing Wire

The Financial Crimes Enforcement Network , or FinCEN, is floating a proposed anti-money laundering rule that could impose reporting mandates on a broad swath of professionals in the residential real estate market, including real estate agents, brokers, attorneys, title insurance companies and settlement agents. The agency also pointed to U.S.

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Opinion: Solutions to restore housing as an economic growth engine

Housing Wire

But that engine could stall if action isn’t taken to increase the supply of affordable housing and expand opportunities for lending to underserved families. of GDP in 2020. Since 2016, legal immigration growth has declined by 40%. Increasing the supply of legal immigrant construction workers would accelerate economic growth.

Insurance 366
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HUD declares FHA once again backing DACA mortgages

Housing Wire

HUD said DACA recipients who are legally permitted to work in the U.S. Secretary Carson and I posted a waiver and other documents to the HUD website that makes clear DACA status recipients are now eligible to apply for mortgages insured by the Federal Housing Administration,” former HUD Deputy Secretary Brian Montgomery said. .”

Mortgage 546
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Calabria: We need another round of PSPA amendments

Housing Wire

” Fercho, the head of home lending at Wells Fargo, asked Calabria about the 7% hard cap and what stakeholders can do now before any new amendments are put into place. That would be like if Wells said, ‘Well, we’ve got deposit insurance so who cares.'” Those forbearances peaked at 2.1

Finance 497