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HUD sued over alleged failure to refund mortgage insurance premiums

Housing Wire

Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. ” This is a developing story. million in unclaimed refunds.

Insurance 469
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FDIC finds banks violated RESPA on mortgage brokerage payments

Housing Wire

In its March Supervisory Highlights, the FDIC stated that many institutions have developed policies and procedures to ensure sufficient mortgage broker services are provided in order to receive compensation , which was the first of a two-part test. There are some caveats related to counseling services, referrals, and duplicative work.)

Brokerage 387
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Guaranty Home Mortgage hires EVP to expand retail channel

Housing Wire

The lender offers a variety of mortgage products, including conventional, FHA, VA, jumbo, rural development loans. He was in charge of growing the mortgage banking platform and focusing on branch development within the middle Tennessee area. Like its competitors, Guaranty Home Mortgage was affected by rising mortgage rates in 2022.

Retail 377
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Nick Bailey out, Amy Lessinger in at RE/MAX

Housing Wire

Lessinger previously served as senior vice president of regional development at RE/MAX. Bailey initially joined RE/MAX in 2001, serving in various roles including as a management consultant, regional director and regional vice president.

Agents 377
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Cherry Creek Mortgage names new chief revenue officer

Housing Wire

In his new role, Hogle will manage the firm’s retail operations, overseeing growth and development of retail sales and the production network, while supporting the firm’s business channels. Hogle began his mortgage career in 2001 at New Century Mortgage , where he became a branch manager.

Mortgage 387
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Guaranteed Rate’s Owning continues layoffs

Housing Wire

According to a Worker Adjustment and Retraining Notification (WARN) notice submitted to the Employment Development Department (EDD) in California, the company cut 108 jobs in three rounds from February to April but intends to add 81 to the list. “A California-based Owning Corp.,

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Interfirst to lay off 140 employees

Housing Wire

Interfirst is a mortgage business founded in 2001 by Dmitry Godin that has been harmed before by market downturns. In October 2021, a $175 million investment from principals at the private holding company StoicLane was used to grow operations and refine and develop new technologies. Presented by: Acra Lending.