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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 366
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Clear Capital cuts 24% of its workforce in restructuring

Housing Wire

Real estate valuation technology company Clear Capital has conducted a new round of layoffs as part of a company restructuring plan. We’ve been a company that’s been investing very heavily in bringing data analytics and technology into the valuation space.

Valuation 393
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Interfirst to lay off 140 employees

Housing Wire

The company’s job cuts include human resources, technology, talent acquisition, and executive assistant positions. Interfirst is a mortgage business founded in 2001 by Dmitry Godin that has been harmed before by market downturns. The workforce reduction is also focused on mortgage loan production. Presented by: Acra Lending.

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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 375
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Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

At the time, Mark Freedle, executive vice president of production at Interfirst, said in a statement that the company’s “broker-centric approach offers the technology, competitive products, pricing and service to help our broker partners build and grow successful.”.

Mortgage 371
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Employment gains could help housing inventory

Housing Wire

“The prime-age labor force participation rate fell in the aftermath of the Great Recession and it took a decade to return to the pre-Great Recession average (2001-2007) of 83%,” Kushi said. Despite increased rate of tech adoption, the mortgage industry still has room for continued development and processes.

Inventory 504
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A look behind this year’s Tech100 winners

Housing Wire

News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). LLR is not a newcomer to mortgage technology or the overall fintech market. In 2016 LLR led a $26.5 No surprise here.