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CFPB bans RMK Financial Corporation from mortgage lending industry

Housing Wire

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government. government.

Lending 363
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Title giant Stewart sues Qualia over software licensing agreement dispute

Housing Wire

In 2015, Stewart was granted an “irrevocable and perpetual license” to install and use the ResWare software title production system product, which at that time was owned by Adeptive Software. After discussion, Qualia decided to extend the termination timeline to July 24, 2024.

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Change Lending keeps CDFI certification after agreement with US Treasury 

Housing Wire

The CDFI certification is a designation given by the Treasury Department CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing. Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI).

Lending 362
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Payload partners with PDS to integrate SoftPro

Housing Wire

According to the Federal Trade Commission (FTC), check fraud has increased by 65% since 2015. The ACH is also designed to protect transactions against fraud through its “payment traceability and recourse features.” . With training and education, the number is now reduced to a little more than 8% in these attempts by scammers.

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Lender Toolkit and Reggora partner to streamline mortgage underwriting

Housing Wire

Founded in 2015, Lender Toolkit specializes in assisting lenders in implementing the necessary organizational changes to maximize results while utilizing its Mortgage Automation as a Service (MAAS) solutions, including AI Underwriter, Disclosure Automation, Prism Income Automation, Post Close Automation, and Investor Delivery.

Mortgage 269
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Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

The lawsuit, which combined two legal actions that were designated a class action, was filed on behalf of 5,377 loan officers and other mortgage staffers employed by the bank in California from 2013 and 2019. James Kang, the lead plaintiff, said Wells Fargo illegally clawed back compensation.

Legal 466
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Homepoint COO Lisa Patterson to speak at Spring Summit

Housing Wire

Patterson has led Homepoint’s third-party originations business since 2015. She has also led the development of Homepoint’s Customer For Life program, which was designed to empower the company’s mortgage broker and correspondent partners to improve customer retention. Bank Home Mortgage.

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