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Opinion: Two legal issues relevant to FHFA’s review of FHLB system

Housing Wire

This article addresses two legal issues relevant to the review: FHFA’s statutory authority to reduce the number of Federal Home Loan Banks, and The application of the FHLBank statutory “super lien”. This provision may be challenged by the affected FHLBank under legal process. Short-term advances are not so restricted.

Legal 369
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Homebot home education portal acquires mobile app firm Quo Finance 

Housing Wire

million in seed funding, led by SignalFire in December 2021 to develop the mobile app. Homebot was co-founded by Ernie Graham and Ira McMahon in 2015 with a vision to help people make smart financial decisions with their homes. Sandfox Advisors served as financial advisor and Goodwin Procter LLP acted as legal counsel to Quo.

Finance 383
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Homebuyers have many options; let’s make sure they’re aware of them

Housing Wire

The Real Estate Settlement Procedures Act (RESPA) ensures that homebuyers always have the legal right to consider alternative title insurance providers and can never be forced into using a particular provider. ALTA has developed several multilingual documents to help educate potential homeowners whose primary language is not English.

Insurance 500
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Change Lending keeps CDFI certification after agreement with US Treasury 

Housing Wire

Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI). The agreement puts an end to a short-lived legal dispute with the Treasury Department. Change is proud to be certified as a CDFI and to continue our mission,” Carlos Salas, CEO of Change Lending, said in a statement.

Lending 410
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The housing industry’s disparate impact hopes

Housing Wire

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. The argument for the higher threshold for claims arose following a 2015 Supreme Court decision which upheld the disparate impact regulation.

Legal 397
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Narrow Gauge Capital acquires Inco-Check

Housing Wire

“Inco-Check has not only developed proprietary technology to support its clients, it also uses these same tools to provide a highly differentiated service offering, making it a one-stop shop for software and tech-enabled services,” said Michael Detwiler, who partnered with NGC on the acquisition, in a statement. Berkery Noyes & Co.

Logistics 370
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Zillow to list housing discrimination protections

Housing Wire

The update expands Zillow’s Local Legal Protections tool, which was created in 2018 to help LGBT home searchers identify if their rights were protected by local laws in certain jurisdictions. The Department of Housing and Urban Development attempted to crack down on landlord discrimination back in 2018. .”

Landlords 466