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Fintech Maxwell acquires digital lending platform Revvin 

Housing Wire

Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. That is Maxwell’s second acquisition since its inception in 2015.

Lending 393
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DOJ, CFPB announce $24M redlining settlement with Trident Mortgage

Housing Wire

a subsidiary of Warren Buffet’s Berkshire Hathaway , discriminated in its marketing outreach, failed to hire minority loan officers, avoided making loans or locating offices in minority areas and sent racist internal emails. It must also contract with a lender to administer $18.4

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Interfirst, the phoenix of mortgage, lays off hundreds

Housing Wire

The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. Godin made plans to relaunch the business in late 2019 as a tech-forward lender that originated loans across both wholesale and retail channels. “And 375% below the market.”

Mortgage 357
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Free Webinar: Components of AMC Training by Josh Walitt

Appraisal Buzz

In 2015, I designed the Market Machine, a technological tool used by appraisers and other valuation professionals. Josh : The course is taken by staff of lending institutions and appraisal management companies and centers on the need for companies to meet or exceed clients’ and regulators’ minimum training requirements.

Training 366
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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

The mortgage loan officer handling the loan? In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. From 2015 to 2018, there were 5 significant fires. In September 2015, a fire destroyed nearly 2,000 buildings and killed at least four people. percent from 7.29

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MBA economists: The overcapacity that still needs to be cut

Housing Wire

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. The first category is real estate credit, which covers most establishments focused on lending with real estate as collateral. It is also unclear in the BLS data how mortgage loan servicing personnel are categorized.

Lending 382
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Appraisal Time Adjustments Underutized

Appraisal Today

I worked for an assessor’s office in the late 1970s where we were making 2% per month time adjustments upward. Since Fannie started focusing on UAD analysis around 2015, losing business because of negative market conditions has almost stopped. For example, to close their “deal” the borrower needs a bridge loan.