Housing Wire

FEBRUARY 12, 2024

The Federal Financial Institutions Examination Council (FFIEC) on Monday issued a statement outlining examination principles related to valuation and appraisal discrimination or bias in residential lending. FFIEC is a federal interagency coalition consisting of the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corp.

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Valuation Appraisal Law Design 396

Housing Wire

OCTOBER 18, 2023

. “We’re hoping to have a final policy [for the payment supplement partial claim] out before the end of the year, although I will say keep your fingers crossed that we don’t face any lapse in appropriations that would shut down the government.” 14-17 in Philadelphia. ”

Mortgage 409

Mortgage Government Insurance Tools 409

Housing Wire

OCTOBER 30, 2023

In a recent interview with HousingWire, loanDepot CEO Frank Martell said the company is not chasing business that doesn’t make sense but trying “to make sure our focus is on the strategic growth areas that we think will contribute to the first-time homebuyer, diverse lending and affordable” lending.

Lending 464

Lending Retail Finance Insurance 464

Housing Wire

FEBRUARY 21, 2023

The company’s primary focus will be on its specialty finance and services (SF&S) businesses, including its Finance of America Reverse (FAR) vertical, which offers government-sponsored and private-label reverse mortgages to older homeowners.

Business 349

Business Lending Finance Real Estate 349

Housing Wire

DECEMBER 1, 2021

years in prison — the maximum the federal government said it would seek — as well as three years of supervised release. As the housing market changes, so does lending fraud. This white paper covers new fraud schemes in mortgage lending as well as solutions for fraud detection. billion for the government-sponsored enterprise.

Mortgage 542

Mortgage Insurance Lending Government 542

Housing Wire

FEBRUARY 23, 2024

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” Ginnie Mae accordingly implored TCB to lend money to RMF.

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Government Contracts Finance Lending 363

Housing Wire

MARCH 28, 2024

New changes from the Federal Housing Administration (FHA) and Ginnie Mae , which insure and guarantee loans, could help open an untapped market for lenders looking to expand their businesses and improve access to credit for buyers of manufactured homes. The home-only lending market presents several major opportunities.

Business 435

Business Finance Buyers Lending 435

Housing Wire

MAY 13, 2024

But shocks to the mortgage market can deteriorate borrowers’ income, balance sheets and access to credit, affecting borrowers, government agencies, insurance companies and local governments. ” “Managing such changes, should Congress require them, could lead to reduced appetite for mortgage servicing assets.

Finance 434

Finance Government Mortgage Legal 434

Housing Wire

MARCH 9, 2022

International governance, risk and compliance giant Wolters Kluwer has inked a deal to acquire International Document Services (IDS) for $70 million in cash. In a statement on Wednesday, Wolters Kluwer said IDS will become an integral part of its governance, compliance, risk (GRC) division, which provides solutions for U.S.

Lending 361

Lending Government Law Insurance 361

Housing Wire

JUNE 7, 2022

Servicers, especially those who service government-insured loan products, are under statutory time constraints that give them very little wiggle room. The post Are these factors creating chaos in your mortgage lending ops? Both lenders and servicers are under constant time pressure to complete their work.

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Lending Mortgage Technology Modernization 321

Housing Wire

JUNE 24, 2022

million to resolve allegations that it fraudulently originated government-backed mortgage loans insured by the Federal Housing Administration (FHA). Brea, California-based direct lender American Financial Network will pay about $1.04 Attorney’s office. When a whistleblower, or “relator” files a lawsuit, the U.S.

Insurance 362

Insurance Mortgage Government Lending 362

Housing Wire

APRIL 19, 2022

Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. Other government entities, including Fannie Mae , Freddie Mac and the United States Department of Agriculture , have already implemented a 40-year loan modification term option.

Insurance 488

Insurance Development Mortgage Government 488

Housing Wire

AUGUST 23, 2022

The FHFA is seeking members who have a background in financing, development, and/or administrative work related to the government sponsored entities and the FHLBs. The committee, whose members have not yet been selected, will focus on the FHFA’s regulated entities, Fannie Mae , Freddie Mac and the Federal Home Loan Banks.

Finance 370

Finance Lending Insurance Government 370

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”.

Finance 442

Finance Valuation Insurance Lending 442

Housing Wire

JULY 26, 2021

Government-backed New Deal programs of the 1930s openly discriminated against minority borrowers and neighborhoods. Historic government institutionalized discrimination includes actions like “redlining,” where the Federal Housing Administration would refuse to insure mortgages in and around Black neighborhoods.

Mortgage 498

Mortgage Lending Real Estate Agent Government 498

Housing Wire

OCTOBER 4, 2022

Head of Neighborhood and Community Lending. Matic Insurance. Senior Executive Vice President, President of Residential Servicing and Correspondent Lending. Supreme Lending. Head of Home Lending. Planet Home Lending. Executive Vice President of Retail Lending. Company Name. Aaron King. CEO and Founder.

Human Resources 403

Human Resources Lending Real Estate Technology 403

Housing Wire

JANUARY 18, 2023

So, it’s definitely not like selling a loan to a GSE (government-sponsored enterprise). mortgage insurance market in 2023 to deteriorate. mortgage insurance sector,” Christopher Grimes, director of Fitch Ratings, said. mortgage insurance sector, according to the report.

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Housing Market Marketing Insurance Mortgage 439

Housing Wire

FEBRUARY 21, 2024

Axis has lending and title academies, with an origination academy set to launch in the spring of 2024. The initial 30 days establish a foundational understanding of mortgage lending concepts. He expects hiring to pick up again on the lending side in the third quarter of 2024. But some are completely fresh to the field. “I

Housing Market 359

Housing Market Mortgage Marketing Real Estate 359

Housing Wire

DECEMBER 14, 2020

Nexsys Technologies , a subsidiary of Rocket Companies , launched its Clear HOI platform for all mortgage lenders on Wednesday – a new product it says will cut homeowners’ insurance verification time to mere minutes. Other insurance companies already integrated with the platform include Allstate , Liberty Mutual and Farmers Insurance.

Mortgage 345

Mortgage Insurance Lending Technology 345

Housing Wire

OCTOBER 23, 2020

Guild agreed to settle the federal lawsuit, brought by the Department of Justice , for just under $25 million, the government said Thursday. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance. It did not admit to any wrongdoing.

Mortgage 483

Mortgage Government Retail Lending 483

Housing Wire

MAY 20, 2021

He set his sights on CapLOC , a North Carolina-based mortgage lending business, and tried to sell CapLOC First Mortgage Company’s lending arm for a quick buck. billion for the government-sponsored entity. As part of the plea deal, the government agreed not to push for a sentence longer than 8.5

Mortgage 382

Mortgage Government Lending Insurance 382

Housing Wire

MARCH 7, 2024

Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. government is forecasting that it will need to issue some $1.8 Overall, you know, we’re going down the hill [in the rate cycle],” he said. “It’s It’s a matter of speed. … trillion in Treasurys in 2024.

Investors 397

Investors Government Mortgage Investing 397

Housing Wire

AUGUST 31, 2022

His 15-plus years of career include three years at Home Point Financial, where he was promoted to senior managing director of enterprise risk and corporate governance and seven years at Black Knight Financial Services. where he left as chief compliance and regulatory counsel.

Modernization 370

Modernization Clients Technology Insurance 370

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. REALITY: The appraisal process is similar to conventional and other government-sponsored loans. David Smith is the VP of National VA Lending at loanDepot.

Mortgage 433

Mortgage Renovations Appraisal Process Finance 433

Housing Wire

JUNE 9, 2021

Bank CRA obligations cover far more than their mortgage lending. IMBs have expanded because of the warehouse lending and short-term credit provided them by the nation’s depositories and because they can sell their loans into the government-guaranteed agency secondary market ( Ginnie Mae , Fannie Mae , Freddie Mac ).

Lending 476

Lending Development Government Finance 476

Housing Wire

MAY 13, 2024

Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish the VantageScore 4.0 historical dataset.

Legal 393

Legal Mortgage Contracts Insurance 393

Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Law Legal Valuation Government 414

Housing Wire

AUGUST 22, 2023

The proposed rule will implement quality control standards that govern AVMs used by originators and secondary market issuers in valuing the real estate collateral securing mortgage loans. The National Association of Mortgage Brokers (NAMB) said it supports new federal regulatory proposals governing the use of AVMs.

Valuation 370

Valuation Appraisal Government Real Estate 370

Housing Wire

MARCH 10, 2022

An affordable housing advocate, who requested anonymity, called the report “stunning,” because it indicates Fannie Mae is only lending to low-income borrowers with the most pristine of credit histories. “A Palim said that a fair lending analysis was outside of the scope of the research paper.

Property Taxes 412

Property Taxes Lending Insurance Local Properties 412

Housing Wire

MARCH 3, 2022

Homeowners with mortgages from Fannie Mae , Freddie Mac , or government agencies such as the Federal Housing Administration (FHA) suffering a financial hardship could defer payments up to 18 months. Rocket was the number three issuer of Ginnie Mae-insured mortgages in February, originating $3.5 So, it may start to come down.

Insurance 369

Insurance Finance Government Mortgage 369

Housing Wire

MARCH 16, 2022

No mortgage insurance will be required. But current government-sponsored enterprise guidelines make it difficult for these borrowers who don’t have a traditional salary to qualify for agency-backed loans. “We We are going to see an increase in some of the non-QM lending.

Lending 382

Lending Insurance Government Mortgage 382

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The fate of Wells Fargo & Co. ’s billion for all last year.

Mortgage 370

Mortgage Lending Business Insurance 370

Housing Wire

APRIL 4, 2024

Meanwhile, community-focused trade groups and associations, although feeling that the new rules miss some relevant aspects of fair lending, criticized the judge’s decision. The following day, Martin Gruenberg, chairman at the Federal Deposit Insurance Corp. This week in Washington, D.C.,

Modernization 260

Modernization Law Legal Landlords 260

Housing Wire

SEPTEMBER 25, 2023

Five days remain in the currently authorized National Flood Insurance Program (NFIP). If it is not reauthorized by Congress before that date, the mortgage industry could see consequences, including ceding control of certain land use policies and the cessation of some mortgage lending. The borrowing authority of NFIP from the U.S.

Insurance 433

Insurance Lending Mortgage Government 433

Housing Wire

MAY 26, 2021

AmeriHome purchased approximately $65 billion in conventional conforming and government-insured originations in 2020. Texas Capital’s correspondent lending business originated approximately $2.4 billion of volume in the fourth quarter, slightly less than Ocwen’s correspondent lending arm during the same period.

Lending 393

Lending Mortgage Insurance Government 393

Housing Wire

JUNE 21, 2023

Other measures in the “proposed rule” stage include rulemaking on personal financial data rights; Property Assessed Clean Energy (PACE) financing and its interactions with the Truth in Lending Act (TILA); and the supervision of certain, larger nonbank covered participants for compliance with federal consumer financial laws.

Valuation 346

Valuation Finance Legal Development 346

Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

Business 406

Business Investors Finance Home Improvement 406