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Rocket Companies CEO Jay Farner to retire

Housing Wire

Emerson will fill the seat on the board vacated by Farner and serve for a term expiring at Rocket’s annual meeting of stockholders in 2004 until his successor is elected. “Mr. Bill Emerson, who served 15 years as Farner’s immediate predecessor, will replace Farner on an interim basis starting June 1.

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LendArch hires Karthik Kumar, TCS’s former head of mortgage

Housing Wire

Kumar was a manager at Standard Chartered Bank from 2002 to 2004. LendArch has a consulting arm to develop a plan for clients, for example, to reduce costs and improve their underwriting. Mortgage consulting firm LendArch has hired Karthik Kumar, the former global mortgage practice head at Tata Consultancy Services (TCS).

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Consumer protection is what title insurance is all about

Housing Wire

Title insurance companies have lower claims rates than other types of insurance because title professionals work to resolve potential issues before they develop into claims. nationally since 2004, according to an analysis of industry financial statements.

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StoicLane has plans to create an appraisal giant

Housing Wire

The team co-founded several companies and, since 2004, they claim to have created $4 billion in equity value to investors. In July, an Oakland woman filed a complaint to the Department of Housing and Urban Development accusing an appraiser, Class Valuation and two mortgage originators of undervaluing her home to the tune of $400,000.

Appraisal 365
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Supreme Court orders review of recession-era class action against Rocket

Housing Wire

million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009. Rocket had requested the revision of the case last fall. The dispute involves a potential payment of $9.7 Its affiliate appraisal company, Title Source, now Amrock, provided the appraisals, court records show.

Appraisal 419
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Title insurance industry volume rises 3.6% in Q1

Housing Wire

“While the overall expense to purchase a home has increased significantly the past few years, the cost of title insurance coverage has decreased 7% since 2004. The title industry will continue to innovate and develop products that best serve and protect its customers.”. The post Title insurance industry volume rises 3.6%

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Gentrification, Neighborhood Boundaries, and Bias

Appraisal Buzz

This is clear when looking at development on Broadway, but it’s also apparent on this graph. Comps in 2004 vs 2022: In terms of real estate, when it comes to comp selection, we might have pulled comps differently in 2004 compared with 2022 because the market is different now. This is affecting real people.

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