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DocMagic adds ADA-compliant loan documents to its library

Housing Wire

Digital lending solutions provider DocMagic announced this week that it has added ADA-compliant mortgage loan documents to its document library. The new digital documents are accessible to visually impaired users and others with disabilities, unlocking opportunities for these consumers into the broader mortgage market.

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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. It’s the ultimate in legalized fraud.

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Stavvy’s eClosing solution supports a variety of closing types, including hybrid and full eClosing

Housing Wire

Stavvy is a truly comprehensive digital closing platform, the only solution to offer a SMART Doc engine that extends the savings, efficiency and security of eNotes to all mortgage documents for all loan programs and across all 50 states while supporting every type of eClosing and eNotarization.

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Real estate commission dispute? Do this.

Housing Wire

Over the past year or so, we have seen an uptick in questions relating to commission disputes between brokers and their clients. A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. A seller-client cancels a listing.

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Opinion: What you need to know for a successful real estate transaction

Housing Wire

The home-buying process involves numerous steps, documents and parties that you have to work with. They also help to prevent fraud and ensure that the sale is conducted legally and ethically. By having a neutral third party manage the transfer of funds and documents, the sale can be completed quickly and efficiently.

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Kind Lending hires Tammy Richards as COO

Housing Wire

Kind Lending, a California-based lender founded by industry veteran Glenn Stearns, is a client of LendArch , a mortgage consulting firm that Richards founded in 2021. That legal battle is still ongoing. In 2023, loanDepot sued Richards for allegedly stealing confidential information concerning the lender’s customers.

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Buy now, pay later: How do mortgage pros deal with ‘phantom debt’?

Housing Wire

Racamato is now orienting his team to look closely at clients’ bank statements to find multiple — and often interest-free — installments of a few hundred or thousand dollars paid to the same company on a biweekly or monthly basis. His team is now “scouring” bank statements, and if they see BNPL loans, they ask clients to pay them off.

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