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2021 MMI Report: Reverse mortgage portfolio hits positive territory for first time since 2015

Housing Wire

The financial performance of the HECM portfolio has improved in each of the last three years and is now positive for the first time since FY 2015,” FHA’s Annual Report to Congress reads. The post 2021 MMI Report: Reverse mortgage portfolio hits positive territory for first time since 2015 appeared first on HousingWire.

Mortgage 376
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Josh Team accused of taking illegal kickbacks in battle between two tech firms

Housing Wire

According to the counterclaim, in 2015 while working for Keller Williams, Team was asked to build a platform for the firm. Over the course of eight years from 2015 to 2023, Keller Williams paid Aika more than $38 million, according to the counterclaim. In September, Aika filed a counterclaim that brought Team into the suit.

Contracts 393
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Erbey back as chairman of Altisource Asset Management Corp.

Housing Wire

The company appointed Erbey to the role of CEO in late December and the board of directors also appointed him as its Chairman, a position he held from March 2012 to January 2015. Erbey served as the executive chairman of the board of directors of Ocwen from 1996 to 2015.

Business 427
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Michigan ERA franchise acquires another independent firm

Housing Wire

GAP Realty Group was founded in 2015 by Alex Pandoff and has 50 agents. ERA Prime Real Estate Group, which also has offices in Farmington and Grand Blanc, said that the acquisition would increase the firm’s services area and market share in Southeast Michigan. The financial terms of the deal were not disclosed.

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Pending home sales fall to lowest level since 2015, new data shows

Inman

Pending home sales dropped 32 percent annually during the four-week period ending Jan. 1, with the biggest drop-offs recorded in markets that took off during the pandemic, according to Redfin.

Marketing 136
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Mark Willis returns to CEO role at KW

Real Estate News

Willis previously held the top leadership position at Keller Williams Realty from 2005-2015 and had recently rejoined the company in a consulting capacity.

Realty 302
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CFPB orders NewDay USA to pay $2.25M for providing misleading costs on 3,000 V.A. cash-out refis

Housing Wire

In 2015, the watchdog took action against the lender for allegedly “paying illegal kickbacks and deceiving borrowers about a veterans’ organization’s endorsement of NewDay USA products,” the agency said. That’s the second case involving the CFPB and NewDay USA.