Housing Wire

FEBRUARY 13, 2023

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The stock car team is also accusing EPM of breaching the contract by failing to make more than $4 million in sponsorship payments following a “margin call” from its investors.

Legal 284

Legal Contracts Lending Loan Officers 284

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. 30, 2021, Richards resigned from her position at loanDepot. loanDepot filed the lawsuit on Oct.

Contracts 356

Contracts Legal Retail Training 356

Housing Wire

JUNE 29, 2023

The poaching lawsuit, filed on June 22 at a federal district court in Delaware, states that South Carolina-based Movement recruited and hired its employees in late 2021 and early 2022 to take trade secrets and confidential information. That’s not the Orange County, California-based lender’s only poaching legal battle.

Retail 369

Retail Contracts Legal Business 369

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 380

Loan Officers Legal Real Estate Lending 380

Housing Wire

SEPTEMBER 26, 2023

Mr. Cooper says that on or about April 23, 2021, ACI and/or its agents sent instructions to depository institutions of its customers that initiated ACH [automatic clearing house] debits for multiple monthly mortgage payments without the servicer’s knowledge or authorization. district court in Texas on Sept. million ACH withdrawals.

Mortgage 334

Mortgage Legal Fees Legal Contracts 334

Housing Wire

FEBRUARY 9, 2024

Florida-based Okavage Group sued UWM in April 2021, following the lender’s announcement of an ultimatum that the wholesale lender will no longer partner with brokers who also work with Rocket Mortgage or Fairway Independent Mortgage Corp. for selling loans to rivals Rocket and Fairway despite agreeing to the contract.

Contracts 399

Contracts Retail Mortgage Lending 399

Housing Wire

JANUARY 3, 2024

Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. million and liquidated damages for the company’s breach of contract. In total, he asks for about $13 million.

Contracts 367

Contracts Legal Mortgage 367

Housing Wire

DECEMBER 21, 2022

A representative for CrossCountry told HousingWire, “As a matter of practice, we do not comment on legal matters.” . Finally, CrossCountry is likely to be found liable for aiding and abetting the Individual Defendants’ contractual and fiduciary violations, as well as being responsible for tortious interference with contract.”.

Legal 368

Legal Loan Officers Contracts Business 368

Housing Wire

JUNE 6, 2023

UWM launched the “All in” initiative in March 2021, requiring brokers partners to stop sending loans to Rocket and Fairway for review, underwriting, purchase and funding if they were also doing business with UWM. The reality is if a broker breaks the contract and if they have, we will address it, and we will win,” he said in a statement.

Brokerage 335

Brokerage Contracts Legal Business 335

Housing Wire

MAY 10, 2024

million for the first time since May 2021. Additionally, the board also voted to change Article 4’s first standard of practice, which currently reads: “For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by Realtors prior to the signing of any contract.” represent themselves 2.

Realtors 324

Realtors Finance Agents Legal 324

Housing Wire

FEBRUARY 5, 2024

Seely joined Guild in 2021 when the California-based lender paid $196.7 Following the M&A transaction , Seely signed a five-year employment agreement with Guild in May 2021. 10, Guild sent a written notice of the employment agreement, saying he failed to cure the breaches and because of that, the company terminated his contract.

Retail 378

Retail Contracts Loan Officers Mortgage 378

Housing Wire

APRIL 18, 2024

She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts. Another source, mortgage tech platform Modex , which collects data from public records nationwide, shows she originated over $95 million in 2020, $93 million in 2021 and $50 million in 2022.

Loan Officers 406

Loan Officers Human Resources Contracts Mortgage 406

Housing Wire

MARCH 11, 2022

According to the legal filings , Barber’s alleged goal was to take real estate “prospects and leads assigned to other brokers” for “his own personal benefit” and that of the other defendants, Darcy Varney and eXp Realty. Barber had been working for the Harrelson Group on a contract basis since March of 2017. and 5:30 a.m.

Real Estate 327

Real Estate Realty Real Estate Agent Legal 327

Housing Wire

JULY 19, 2022

The lawsuit, filed in federal court in New York last week, alleges that since February 2022 “CrossCountry improperly poached no fewer than 32 loanDepot employees from loanDepot branches in Manhattan, Brooklyn and Fishkill, New York by interfering with loanDepot’s contractual and other legal rights.” billion in business.

Loan Officers 380

Loan Officers Contracts Legal Business 380

Housing Wire

FEBRUARY 4, 2022

United Wholesale Mortgage (UWM) is making good on its threat to take legal action against partnering broker shops that also send business to Rocket Mortgage and Fairway Independent Mortgage , a violation of the wholesaler’s controversial broker agreement. million for repeatedly violating the terms of the agreement.

Legal 370

Legal Contracts Business Mortgage 370

Housing Wire

JULY 26, 2022

District Court of Southern District of New York against Sprout Mortgage and Sprout Mortgage Asset Trust for fraud, breach of contract, promissory estoppel and unjust enrichment. New Wave filed the lawsuit Monday in the U.S. Sprout’s executives did not immediately return a request for comment, nor did executives at New Wave.

Mortgage 361

Mortgage Legal Lending Investors 361

Housing Wire

JULY 26, 2022

District Court of Southern District of New York against Sprout Mortgage and Sprout Mortgage Asset Trust for fraud, breach of contract, promissory estoppel and unjust enrichment. New Wave filed the lawsuit Monday in the U.S. Sprout’s executives did not immediately return a request for comment, nor did executives at New Wave.

Mortgage 360

Mortgage Legal Lending Investors 360

Housing Wire

OCTOBER 23, 2023

A judgment as a matter of law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, the plaintiffs) on the issue. According to Warner, the module that mentions commissions had just 138 views in 2020 and 2021, combined, among HomeServices’ 51,000 agents.

Law 413

Law Agents Realtors Contracts 413

Housing Wire

FEBRUARY 25, 2022

The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal court accusing broker partners of breach of contract for originating mortgages to its competitors. A warranty in the addendum said that if brokers submitted loans to Rocket or Fairway, it would constitute a breach of contract.

Contracts 369

Contracts Brokerage Investing Mortgage 369

Housing Wire

MAY 11, 2022

Caliber claims its rival hired more than 80 of its employees, among them 40 loan producers, beginning in February 2021. A CrossCountry spokesperson told HousingWire they don’t comment on legal matters. in April 2021 for $1.675 billion from the hedge fund Lonestar Funds, was No.

Technology 381

Technology Investing Legal Mortgage 381

Housing Wire

JANUARY 18, 2024

Myers joined Qualia in 2021 through the firm’s acquisition of Resware from Adeptive Software , which closed in December 2020. Qualia is suing both Settlor and Myers for misappropriation of trade secrets, and it is suing Myers for breach of contract, and Settlor for intentional interference with a contract.

Contracts 388

Contracts Government Business Marketing 388

Housing Wire

JULY 26, 2023

In its early June brief, the DOJ argued that the lower court “made several serious errors of basic contract law.” Although a new administration is free to change the government’s policies, it is not free to repudiate the government’s contracts,” the brief states. NAR, however, sees things differently.

Government 317

Government Law Contracts Realtors 317

Housing Wire

JULY 8, 2022

With the change of Federal administrations in 2021, it didn’t take long for the Consumer Financial Protection Bureau (CFPB) to signal that it would prefer to see more LEP services made available, particularly in the mortgage servicing and lending sectors. The translation must include every term and condition of the contract or agreement.

Law 382

Law Advertising Contracts Government 382

Housing Wire

FEBRUARY 7, 2023

Like its peers, loanDepot is struggling amid a contracting mortgage market. loanDepot’s headcount has nearly halved from 11,300 at year-end 2021 to approximately 6,100 at the end of September 2022. Per Inside Mortgage Finance data, conditions have since worsened – the lender originated just $6.37

Real Estate 315

Real Estate Legal Contracts Mortgage 315

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

Marketing 364

Marketing Mortgage Investors Legal 364

Housing Wire

DECEMBER 5, 2023

However, the DOJ, under new leadership in the Biden administration, withdrew the settlement in July 2021 , stating that the terms of the agreement prevent regulators from continuing to investigate certain association rules that they feel harm buyers and sellers. In late January 2023 , Judge Timothy J.

Real Estate Agent 352

Real Estate Agent Law Real Estate Agents 352

GoForrmz

DECEMBER 5, 2022

The Electronic Signatures in Global and National Commerce Act, (E-Sign Act), was signed into law on June 30, 2000 , but it took until 2007 for the Federal Reserve Board to finalize and adopt the detailed rules and standards of legally binding, electronic signatures. ” — McKinsey Digital Payments Consumer Survey, 2021.

Business 78

Business Legal Law Contracts 78

Housing Wire

MARCH 15, 2022

A recent judge’s ruling in pending litigation involving student-loan securitization trusts could have far-reaching legal and financial implications for the private-label securities market. District Court judge in the case, Stephanos Bib as , states in a ruling lodged in late December of 2021. Now the trusts move to dismiss,” the U.S.

Legal 383

Legal Law Investors Finance 383

The Robert Weiler Company

NOVEMBER 9, 2021

Whether a contract is needed for commercial land for sale, a commercial building for sale, retail space for sale, rental properties for sale, or any other type of commercial property for sale, Adobe Sign can help execute professional CRE contracts. Monthly or Yearly Subscription to BiggerPockets. Average cost: $32.50/month

Real Estate 147

Real Estate Investors Investing Home Improvement 147

Housing Wire

MARCH 7, 2022

billion in 2021, according to an analysis of 10 different blockchain ledgers by DappRadar. The NFT representing ownership of an LLC representing ownership of a house is 100% legally meaningless. between signing a contract to buy a home and purchase closing is 50 days, according to a September 2021 report from ICE Mortgage Technology.

Real Estate 467

Real Estate Law Inspection Agents 467

Housing Wire

MAY 23, 2023

In other words, independent mortgage banks (IMBs) acting as buyers in M&A deals are being asked to assume the future R&W liabilities for past loans sold to Fannie Mae by the seller should the seller, at some point, be unable to honor the terms of the contracts.

Buyers 357

Buyers Sellers Finance Contracts 357

Housing Wire

DECEMBER 21, 2020

Headed into 2021, the American Land Title Association announced the promotion of six of its staff members to new leadership positions. “I This year, he has also been driving ALTA’s internal legal efforts regarding the SECURE Notarization Act while overseeing the Title Insurance Political Action Committee and its regulatory efforts.

Insurance 229

Insurance Government Advertising Legal 229

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Sign up now. Blog post: 9 Ways to Handle Appraisal Pressure.

Appraisal 103

Appraisal Contracts Market Value Clients 103

GoForrmz

DECEMBER 12, 2022

In an ideal world, everything in your business runs without disruption; no paperwork is ever lost, no data is ever incorrect, and every signature is legally binding and captured quickly. ” — United Nations Conference on Trade and Development, 2021. But how many businesses live in that ideal world?

Legal 78

Legal Business Contracts Tools 78

Housing Wire

MARCH 14, 2022

As the principal broker for a RE/MAX franchise in coastal Cannon Beach, Oregon, Alaina Giguiere’s typical responsibilities include marketing homes for sellers, touring homes with buyers, generating new business leads, managing client relationships, and drafting and reviewing contracts with buyers and sellers.

Real Estate 401

Real Estate Insurance Law Real Estate Agent 401

Housing Wire

JUNE 14, 2022

Freddie Mac research concluded in 2021 that appraisal gaps, which negatively impact Black and Latino borrowers and homeowners, exist on purchase appraisals. Non-traditional appraisals to the rescue. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

Appraisal 311

Appraisal Valuation Inspection Law 311

The Robert Weiler Company

APRIL 20, 2021

These clauses usually have to be worked out with the assistance of an attorney, to ensure that they are legally correct. This is because the owner is subject to the franchise contract, which tends to influence how the business is sold. Sole proprietorships. Question 11: How much is my business worth to sell?

Valuation 147

Valuation Business Buyers Market Value 147