Remove 2015 Remove Insurance Remove Loan Officers Remove Modernization
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Another lender settles redlining accusations with DOJ

Housing Wire

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. Federal officials said similar banks generated five times as many loan applications from prospective Black and Latino home buyers as Lakeland.

Law 382
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Appraisal Risk, Reviews, and Revisions

Appraisal Today

Lenders want fire insurance for all mortgage loans. What if there is no insurance available, very limited coverage, or only very expensive insurance? Or insurance problems for flooding, hurricanes, or other natural disasters. For example, Florida homeowners have had many problems getting flood insurance.

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“It’s math:” How mortgage solutions companies are fighting for survival

Housing Wire

The firm’s software — which it says streamlines the loan origination process by allowing document sharing and communication between loan officers and real estate agents — helped to close more than 77,000 mortgage applications per month, according to Porch. So it’s like middle-office, later stage workflow.

Mortgage 341
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Inside the government’s feeble fight to end redlining

Housing Wire

The three agencies in charge of such reviews — the Federal Reserve , the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency — have not denied a single bank merger in 15 years. Senior administration officials claim that rooting out “modern-day redlining” is a top priority.

Lending 356
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The fate of HUD

Housing Wire

As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality. Part of its effort to modernize its outdated technology systems, the FHA Catalyst program, hit a snag last year. John Meussner, the loan originator who priced the loan, said the fees amounted to “gouging.”.

Insurance 341