Housing Wire

APRIL 21, 2022

Freddie Mac will debut targeted lending programs this year, following guidance from regulators giving lenders the go-ahead. The programs will be announced in the third quarter of this year, Perry said during a fair housing webinar hosted by the National Housing Conference , a mortgage trade association. In December 2021, HUD Sec.

Lending 404

Lending Legal Law Development 404

Housing Wire

MAY 4, 2022

The Federal Housing Finance Agency will now require lenders to provide data on borrowers’ language preferences in order to sell loans to Fannie Mae and Freddie Mac , a move which could invite fair lending lawsuits. These steps will contribute to an equitable housing finance system that welcomes all qualified borrowers,” said Thompson.

Legal 341

Legal Lending Government Loan Officers 341

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. Expected to close around Oct. It funded $5.1

Lending 296

Lending Retail Legal Loan Officers 296

Housing Wire

JULY 20, 2022

Accessory dwelling units are increasingly legal. The Joe Biden administration broadly identified this financing issue. The problem then, the authors found, is ascertaining favorable financing. ADUs were legalized statewide in 2017. Oregon and Connecticut have followed suit in legalizing ADUs.

Finance 367

Finance Legal Landlords Construction 367

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Is now a good time to invest in real estate automation technologies?

Brokerage 390

Brokerage Real Estate Lending Mortgage 390

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Tools 349

Tools Mortgage Finance Lending 349

Housing Wire

MARCH 8, 2024

The Consumer Financial Protection Bureau (CFPB) will be closely scrutinizing what it described as “junk fees” imposed on borrowers when closing a mortgage. Its new priority has provoked strong criticism from the mortgage industry. And, as they are fixed, they have an “outsized impact on borrowers with smaller mortgages,” it added.

Mortgage 427

Mortgage Legal Insurance Finance 427

Housing Wire

NOVEMBER 16, 2023

Nonbank originator Change Lending and the U.S. The CDFI certification is given by the Treasury Department CDFI Fund to lenders providing financial services to low-income communities and people who lack financing. But at least 60% of a lender’s financing must target these borrowers.

Lending 323

Lending Finance Contracts Development 323

Housing Wire

DECEMBER 7, 2021

In a legal memo, HUD stated that SPCPs are allowed under the Fair Housing Act. Marcia Fudge, in a missive to her colleagues at the Office of the Comptroller of the Currency , the Consumer Financial Protection Bureau and the Federal Housing Finance Agency. A special purpose credit program can take many forms.

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Lending Law Design Government 410

Housing Wire

MAY 6, 2024

mortgage lender Fairway Independent Mortgage Corp. The company announced last week that, in April, it welcomed production teams that collectively originated more than $500 million in mortgage volume in 2023. These groups are bringing a total of 92 mortgage professionals to Fairway. The lender originated $5.15

Retail 355

Retail Loan Officers Legal Lending 355

Housing Wire

JUNE 15, 2021

Non-QM lender Sprout Mortgage is setting up a distributed retail operation, and it’s picked a veteran of Wells Fargo to lead the new division. Johnson, based in Miami, has also worked at PNC Bank during his career in mortgage banking. Sprout does most of its business through mortgage brokers.

Retail 336

Retail Mortgage Legal Lending 336

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Is there demand for “mortgages” to buy virtual real estate in the Metaverse?

Real Estate 527

Real Estate Mortgage Property Taxes Law 527

Housing Wire

APRIL 14, 2021

Non-QM lender Sprout Mortgage has brought on Infosys ‘s chief information officer and global director of real estate finance solutions, Henry Santos , as its own CIO and executive vice president, the company announced Tuesday. In her new role, LaRaia will oversee all legal and regulatory compliance functions.

Mortgage 257

Mortgage Lending Legal Modernization 257

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Finance 394

Finance Government Mortgage Legal 394

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. Retail lender AmeriFirst Financial Inc.

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

DECEMBER 19, 2023

High-profile government actions against some of the nation’s largest financial firms for alleged violations of fair lending laws and loan servicing principles have sent a sobering message to industry CEOs and their boards: the buck stops at the top. Just ask the ones who in the recent past have lost their jobs or faced reputational damage.

Legal 356

Legal Supply Chain Law Lending 356

Housing Wire

OCTOBER 16, 2023

Generative artificial intelligence (AI) has tremendous potential to cut costs and improve customer experience, but regulation has not caught up to develop a governance program, industry pros said of AI’s implementation in mortgage lending. The panel noted the findings of the latest Fannie Mae mortgage lender sentiment survey.

Technology 376

Technology Lending Government Legal 376

Housing Wire

JULY 19, 2022

Fannie Mae and Freddie Mac ’s regulator imagines a future where, perhaps through artificial intelligence and machine learning, errors in mortgages are identified in real time before a loan is closed. billion five years ago, per the Federal Housing Finance Agency — closing a mortgage loan has since gotten more expensive, not less.

Mortgage 342

Mortgage Finance Technology Legal 342

Housing Wire

APRIL 23, 2024

Chamber of Commerce has vowed to take legal action against the FTC, according to a statement calling the ban “an unlawful power grab.” It’s not common practice in the mortgage and real estate industries to make use of noncompetes. labor force.

Real Estate Agent 388

Real Estate Agent Loan Officers Lending Real Estate 388

Housing Wire

FEBRUARY 14, 2022

Weiss will continue to serve as Freddie Mac’s senior executive liaison to its conservator, the Federal Housing Finance Agency , and Treasury, which holds warrants to purchase 79.9% DeVito, who assumed the role of CEO in June 2021 , held numerous positions at the bank from 2007 to 2020, including, most recently, head of home lending.

Legal 330

Legal Law Lending Development 330

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

Legal 340

Legal Mortgage Contracts Insurance 340

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. The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries.

Loan Officers 364

Loan Officers Legal Real Estate Lending 364

Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 The news was first reported by legal website Top Class Action. Cyber security issues are among the biggest challenges for real estate and housing finance companies.

Legal 316

Legal Technology Insurance Lending 316

Housing Wire

SEPTEMBER 2, 2022

Finance of America Reverse. Freedom Mortgage. Finance of America Mortgage. VP, All In One Loan Finance. Enact Mortgage Insurance. Enact Mortgage Insurance. SVP, Retail Lending Analytics Manager. AmeriHome Mortgage. Mortgage Coach. Fairway Independent Mortgage Corporation.

Retail 307

Retail Realty Finance Technology 307

Housing Wire

NOVEMBER 17, 2023

The transition of three veteran sales executives from South Carolina-based lender Movement Mortgage to its California competitor Summit Funding led to a legal battle over poaching. Increasing the tone of the legal battle, Pennington filed a counterclaim against Movement requesting about $9.8 million in unpaid compensation.

Loan Officers 310

Loan Officers Legal Retail Finance 310

Housing Wire

FEBRUARY 4, 2021

It will be financed through a combination of committed equity financing provided by funds managed by Stone Point Capital and Insight Partners, as well as committed debt financing provided by JPMorgan Securities. Strategies lenders should adopt from direct to consumer lending. Sign up here.

Legal 409

Legal Investors Lending Finance 409

Housing Wire

NOVEMBER 7, 2022

Executives at the mortgage lender announced their decision in a letter sent on Wednesday to business partners and employees, which was reviewed by HousingWire. According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. and Sprout Mortgage.

Lending 418

Lending Investors Business Mortgage 418

Housing Wire

APRIL 24, 2024

During an earnings call on Wednesday, chief financial officer Daniel Perotti said that “Pennymac maintained its dominant position in correspondent lending in the first quarter” as it acquired $18 billion in volume. Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6 Pennymac’s servicing portfolio continues to grow.

Lending 369

Lending Legal Contracts Mortgage 369

Housing Wire

JULY 14, 2022

Cuts also hit operations, risk and compliance, legal, finance, business operations and marketing teams, according to a presentation held on Wednesday afternoon. . Kiavi, which rebranded from Lending Home in November, ranked as the top short-term lender in the fix-and-flip space in 2021, with $2.7

Human Resources 367

Human Resources Construction Legal Investors 367

Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. In some ways, 2023 was the year of the homebuilder. There wasn’t much competition from existing homeowners. is short of 1.5

Construction 427

Construction Supply Chain Inventory Housing Market 427

Housing Wire

APRIL 22, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. ” In 2021, Blend processed more than 1.8

Mortgage 361

Mortgage Marketing Human Resources Clients 361

Housing Wire

JUNE 30, 2021

The Consumer Financial Protection Bureau (CFPB) is tightening the screws on mortgage servicers and originators that violate consumer protection laws. Financial institutions flubbed the credit scoring, rate spread and debt-to-income data fields on their home mortgage disclosure act.

Loan Officers 414

Loan Officers Lending Open Houses Legal 414

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. According to Kris Kully, an attorney at Mayer Brown , the notice will affect mortgage lenders because many of the underwriting systems lenders use to measure default risk contain proprietary algorithms, or “black-box models.”

Law 411

Law Legal Valuation Government 411

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.”

Brokerage 382

Brokerage Realty Real Estate Loan Officers 382

Housing Wire

OCTOBER 3, 2023

Payday lending groups, led by the Community Financial Services Association (CFSA), are challenging the constitutionality of the CFPB’s funding structure in a case that could have existential consequences for the consumer bureau stood up in 2011, and which maintains regulatory enforcement authority over a wide swath of U.S.

Legal 323

Legal Real Estate Law Finance 323

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. One top-producing California -based loan officer said she was excited when a top 35 mortgage lender tried to recruit her with the promise of multiple pricing buckets.

Loan Officers 437

Loan Officers Clients Law Legal 437

Housing Wire

MARCH 30, 2023

New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. Severance will also be provided according to legal requirements. Per Inside Mortgage Finance data, the company was the 39th-largest U.S.

Retail 369

Retail Loan Officers Legal Technology 369