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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.

Legal 300
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Homebot home education portal acquires mobile app firm Quo Finance 

Housing Wire

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. Since launching their app in June 2021, Quo’s users have amassed over $1.5

Finance 318
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Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

million to more than 5,300 home mortgage consultants to resolve a pair of class-action legal claims that allege wage-and-hour violations in California, according to the settlement agreement in federal court. Wells Fargo agreed to pay $95.7 The deal will provide $62.8

Legal 466
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Change Lending keeps CDFI certification after agreement with US Treasury 

Housing Wire

The agreement puts an end to a short-lived legal dispute with the Treasury Department. In 2015, Levine’s former employer, TPG Global, also sued him for taking confidential documents and distributing them to media outlets after being denied a promotion. Levine was fired in March over multiple accusations of workplace misconduct.

Lending 369
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The housing industry’s disparate impact hopes

Housing Wire

A homeowners insurer trade group, which has mounted successful legal challenges of the standard in the past, said it sees no reason the rule should apply to its industry. The argument for the higher threshold for claims arose following a 2015 Supreme Court decision which upheld the disparate impact regulation.

Legal 365
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Narrow Gauge Capital acquires Inco-Check

Housing Wire

Boston, Massachusetts-based NGC, founded in 2015, is focused on making investments in health care services, financial services technology, distribution and logistics sectors. and Keefe, Bruyette & Woods served as financial advisors to Inco-Check Winston & Strawn served as legal counsel to NGC. Berkery Noyes & Co.

Logistics 310
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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. Often the buyer asks the real estate agent or lender for a recommendation, but we always encourage buyers to explore their options.

Insurance 499