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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. The lawsuit was previously reported by National Mortgage News and Law360. million in unclaimed refunds.

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FDIC finds banks violated RESPA on mortgage brokerage payments

Housing Wire

Mortgage brokers ’ compensation is in the spotlight after a recent Federal Deposit Insurance Corporation (FDIC) test concluded that some financial institutions failed to prove that payments were “reasonably related” to the value of services provided. There are some caveats related to counseling services, referrals, and duplicative work.)

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Pending home sales fell 7.1% in August

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. It will disrupt some home sales in the short run due to the lack of flood insurance or delays in government-backed mortgage issuance,” he said. Existing home sales also fell in August, down 15.3% below the August 2022 level.

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Cherry Creek Mortgage names new chief revenue officer

Housing Wire

Hogle began his mortgage career in 2001 at New Century Mortgage , where he became a branch manager. Cherry Creek was among the 41 independent mortgage banks that sent a letter to the Federal Housing Administration as part of the Community Home Lenders Association urging the administration to cut mortgage insurance premiums.

Mortgage 381
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MBA promotes Joel Kan and Heather Messam

Housing Wire

Messam joined MBA in 2001 and most recently served as associate vice president and controller. MBA’s membership exceeds 2,200 companies, encompassing independent mortgage banks, mortgage brokers, commercial banks, thrifts, REITs, Wall Street conduits, life insurance companies and credit unions.

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Interfirst Mortgage raises $175 million

Housing Wire

Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011. The holding company will invest in finance, insurance, and real estate businesses. The company ceased operations in July 2017 after years of declining volumes. .

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Blend reports $133.98 million loss in Q3, layoffs of 100 positions

Housing Wire

million was driven by a decline in mortgage banking and its title insurance business revenue, which occurred despite its consumer banking revenue more than doubling from the same period last year. Blend Lab ‘s third-quarter loss of $133.98 The loss also reflects a $57.9 The Title365 segment revenue was $19.3 million, down by $35.2

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