Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. Both these laws paved the way for more responsible lending and a more responsible consumer. Today, we are at 1.25

Law 517

Law Inventory Lending Mortgage 517

Housing Wire

MARCH 15, 2021

First, the refinance boom’s main driver in the 2000s was unhealthy because of the marketplace’s speculative unhealthy lending standards. If we dig a little deeper into homeowners’ balance sheets, we see that since 2010, cash flow and loan quality of mortgage holders were excellent. The rest of this content is for HW+ members.

Lending 543

Lending Housing Market Mortgage Marketing 543

Housing Wire

JULY 17, 2023

Mozilo avoided working with subprime loans until the late 1990s, when after noticing that his firm was losing business to competitors, Countywide embraced the type of subprime mortgage lending that eventually led to the housing crisis in 2008. Mozilo settled with the SEC in October 2010 for $67.5 And they did it at a massive scale.

Lending 369

Lending Mortgage Business Government 369

Housing Wire

APRIL 28, 2021

. “With a similar culture and alignment of values, Veritex has helped Thrive grow by understanding our business and assisting Thrive with tailored financing, including construction warehouse lending. The investment in Thrive comes amid a wave of M&A activity in the mortgage lending space. It posted net income of $31.8

Mortgage 369

Mortgage Lending Investing Retail 369

Housing Wire

JULY 18, 2022

Harley founded Fathom Realty in 2010, and the company has since expanded to Fathom Holdings. It encompasses brokerage, mortgage, title, insurance and technology companies like Real Results, Verus Title and Encompass Lending.

Real Estate 388

Real Estate Brokerage Technology Realty 388

Housing Wire

SEPTEMBER 14, 2020

This is because after 2010, the loan profiles of mortgage seekers before and during the COVID crisis have been, in a word, excellent– the best loan profiles that I have ever seen in my 24 years of lending experience. The rest of this content is for HW+ members. Join today with an HW+ Membership !

Mortgage 485

Mortgage Lending Housing Market Marketing 485

Housing Wire

MARCH 1, 2022

Prior to her seven-year stint at the Federal Home Loan Bank of Pittsburgh, from 2013 to 2014 Anderson worked as an attorney at Relman, Dane & Colfax PLLC , specializing in fair lending counseling and compliance. Before that, she worked at Ballard Spahr in public finance and housing. It will not be her first time at Fannie Mae.

Human Resources 384

Human Resources Government Finance Mortgage 384

Housing Wire

JULY 26, 2021

Since 2010, Bank of America , Wells Fargo , and JPMorgan Chase have all paid multi-million-dollar settlements in response to U.S. Justice Department charges of fair-lending violations. As with many industries, the mortgage-lending market has increasingly moved online.

Mortgage 504

Mortgage Lending Real Estate Agent Government 504

Housing Wire

OCTOBER 29, 2021

The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. He also had a stint as director at the Center for Responsible Lending. a legal defense nonprofit.

Lending 371

Lending Law Legal Mortgage 371

Housing Wire

FEBRUARY 6, 2023

She joined Union Savings Bank as its regional vice president in 2010 and the Ohio Mortgage Bankers Association as its president in 2020, after being a member there for more than 10 years. PrimeLending currently operates in all 50 states in the U.S.

Legal 345

Legal Mortgage Lending Buyers 345

Housing Wire

DECEMBER 9, 2020

“Inaccurate HMDA data can make it difficult for the public and regulators to discover and stop discrimination in home mortgage lending or for public officials and lenders to tell whether a community’s credit needs are being met,” the CFPB said in a release. ” Washington Federal is located in Seattle.

Training 370

Training Lending Development Mortgage 370

Appraisal Buzz

APRIL 15, 2024

UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. Appraisers will want to make sure that their software vendors can accommodate non-lending work in their new platforms.

Appraisal 397

Appraisal Design Lending Development 397

Housing Wire

DECEMBER 28, 2022

Home Prices will fall, but don’t expect 2010. There will be two key differences between 2023 and 2010. First, mortgage lending standards have remained high after the last bubble. The event is exclusively for HW+ members , and you can go here to register. Median home prices have declined for four straight months.

Housing Market 491

Housing Market Marketing Inventory Mortgage 491

Housing Wire

JANUARY 24, 2023

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices. ” According to Selden, the rule is clear.

Lending 367

Lending Law Legal Training 367

Housing Wire

OCTOBER 11, 2021

The fair housing organization argued that Old National should have “ been especially attuned to the country’s fair lending laws and the need to make loans available in communities of color due to its 2018 purchase of KleinBank.”

Lending 409

Lending Loan Officers Law Mortgage 409

Housing Wire

FEBRUARY 5, 2021

Kicking off this week’s string of senior leadership hires, InterLinc Mortgage Services promoted to CEO Gene Thompson, who has served as president since 2010. Thompson started his mortgage career as an originator, working his way up to regional manager, eventually starting his own firm, Texas Capital Lending.

Mortgage 281

Mortgage Lending Investors Realty 281

Housing Wire

APRIL 24, 2023

million, the existing home sales forecast represents the slowest annual pace since 2010, according to the ESR Group. New home construction is expected to pull back later in 2023 – consistent with Fannie Mae’s forecasted recession – which is due, at least in part, to tighter credit availability for construction lending.

Construction 382

Construction Inventory Lending Mortgage 382

Housing Wire

JANUARY 27, 2022

The lawsuit alleges that, between 2010 and 2018, Wells Fargo failed to detect errors in its automated system to determine whether consumers in default would be eligible for loan modifications with Fannie Mae or Freddie Mac , or under the U.S. The benefit distribute date is currently scheduled to occur on March 15.

Mortgage 410

Mortgage Government Contracts Tools 410

Housing Wire

DECEMBER 1, 2020

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. in 2010 and 2011. The company’s cloud-based platform also automates the document collection, verification, and review process.

Mortgage 296

Mortgage Lending Technology Investors 296

Housing Wire

SEPTEMBER 8, 2022

Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

Inventory 544

Inventory Law Housing Market Design 544

Housing Wire

MAY 3, 2022

The new unit focuses on developing mortgage-adjacent lending products and services. Hsieh, who is loanDepot’s main shareholder, founded the mortgage lender in 2010, serving as chairman and CEO for the past 12 years. Martell was hired for a newly created position as president and CEO.

Renovations 397

Renovations Loan Officers Technology Mortgage 397

Housing Wire

OCTOBER 18, 2022

Racial Equity Accelerator for Homeownership, a collaboration between Urban Institute and Federal Home Loan Bank (FHLB) of San Francisco , on Monday released a report that examines how the adoption of alternative data can benefit Black households within the mortgage lending landscape.

Lending 419

Lending Mortgage Legal Design 419

Housing Wire

MARCH 10, 2021

The community lending segment has experienced impressive growth over the last 10 years. From 2010 to 2016, for instance, the top five depositories saw mortgage origination fall from 64% to 25% , a loss of ~$500 billion in originations.

Marketing 384

Marketing Technology Lending Business 384

Housing Wire

APRIL 25, 2022

” Before the Dodd-Frank Act of 2010, only banks and credit unions were subject to federal supervision. In part because of a friendlier regulatory climate than what depository counterparts work in, nonbanks have become the dominant force in mortgage lending.

Modernization 295

Modernization Law Lending Mortgage 295

Housing Wire

MAY 26, 2022

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, created in direct response to the financial crisis, also makes the mortgage industry different from 14 years ago, according to market watchers. The Dodd-Frank Act requires lenders to check a buyer’s ability to repay, which protects them from predatory lending practices.

Loan Officers 397

Loan Officers Housing Market Mortgage Buyers 397

Housing Wire

AUGUST 30, 2022

Nor can we ever have a credit sales boom again with lending standards back to normal. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime. Case in point, purchase application data is already below 2008 levels today.

Inventory 384

Inventory New Listings Law Housing Market 384

Housing Wire

MARCH 31, 2022

WFG develops solutions in direct response to industry concerns solicited through regular engagement with its Executive Roundtable (ERT) of C-suite lending executives. The company’s post-transaction customer surveys and Net Promoter Score program rankings consistently reflect high marks for customer satisfaction across all divisions.

Real Estate 379

Real Estate Human Resources Technology Clients 379

Housing Wire

AUGUST 31, 2021

Since its founding in 2010, WFG National Title Insurance Company has worked to advance the real estate, mortgage lending and title industries, adding greater efficiency and accuracy to processes and a vastly improved experience for consumers.

Real Estate 267

Real Estate Technology Development Design 267

Housing Wire

SEPTEMBER 22, 2021

In 2019, the share of gig workers in companies jumped 15% compared to 2010, according to data from the ADP Research Institute. BD: First and foremost, the biggest pain point for brokers is finding lenders that offer mortgage solutions outside of the conventional lending box.

Finance 370

Finance Technology Lending Mortgage 370

Housing Wire

OCTOBER 1, 2022

Another reason why distressed sales are likely low, is that lending standards remain tight. While it is not the high seen during the First-time Home Buyer Tax Credit in 2010, it is also not the historical norm of 40% seen in the annual Profile of Home Buyers and Sellers report. It is difficult to obtain a mortgage today.

Realtors 397

Realtors Housing Market Marketing Buyers 397

Housing Wire

MARCH 31, 2022

The speculative debt boom we saw from 2002-to 2005 can’t be repeated with the current lending standards in place. Fixed low debt cost with rising wages creates better cash flow Post-2010, the lending standards have been great — we made American mortgage debt great again! This is a good thing, it protects us well in downturns.

Housing Market 530

Housing Market Inventory Lending Marketing 530

Housing Wire

OCTOBER 16, 2023

Up from 45% last year and a notable increase from 37% in 2021, the report also mentioned that this share of first-time homebuyers likely hasn’t been this high since 2010, when there was a first-time homebuyer tax credit. The win, essentially, is the strategy. the immediate gains are nilch, seemingly making rent look more attractive.

Agents 409

Agents Buyers Sellers Inventory 409

Housing Wire

JULY 20, 2023

agencies decided to review banks’ capital framework in response to the financial crisis, consistent with the standards issued by the Basel Committee on Banking Supervision in 2010 (Basel III). Mills particularly worries about the impacts on the MSR market and warehouse lending. To understand the context, U.S.

Mortgage 362

Mortgage Marketing Lending Finance 362

Housing Wire

JANUARY 24, 2022

The appraisal industry’s “byzantine regulation structure,” according to the report’s authors — experts in fair housing, fair lending and valuation — has stunted the appraisal industry’s understanding of fair housing risk. The GSE appraisal data, which goes back to 2010, is unparalleled in its scale. Marcia Fudge.

Government 370

Government Appraisal Reconsideration of Value Lending 370

Housing Wire

MARCH 30, 2023

Because of the qualified mortgage laws of 2010, we are lending to the capacity to own the debt, which means speculative credit cycles from primary resident homebuyers or even investors can’t occur in the same fashion as from 2002-2005. during the last few years, nor can we ever.

Housing Market 530

Housing Market Mortgage Law Marketing 530

Housing Wire

OCTOBER 1, 2020

Kang attributed the actions, at best, as a “dispute over alleged technical violations and process errors related to the underwriting of HECM’s” between 2008 and 2010. The HECM program is a reverse mortgage program specifically for senior homeowners age 62 and older.

Legal 349

Legal Insurance Law Mortgage 349

Housing Wire

SEPTEMBER 25, 2023

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. This is according to government researchers, other experts and lawmakers in a U.S. Senate Banking Committee hearing earlier this month.

Insurance 441

Insurance Lending Mortgage Government 441