Housing Wire

FEBRUARY 25, 2022

United Wholesale Mortgage (UWM) just sued two more broker shops that allegedly violated its controversial “ultimatum” by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. However, the lender said it was necessary to protect the long-term viability of the wholesale mortgage channel.

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Contracts Brokerage Investing Mortgage 370

Housing Wire

JUNE 30, 2022

First Guaranty Mortgage Corp. Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show. The lender then filed for Chapter 11 bankruptcy on Thursday, June 30.

Finance 370

Finance Lending Mortgage Investing 370

Appraisal Today

MAY 10, 2024

New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. Now there is, per the attached PDF HUD/FHA mortgage letter. The mortgage loan officer handling the loan?

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Reconsideration of Value Appraisal Real Estate Insurance 73

Appraisal Today

DECEMBER 8, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Non-lender appraisals, dealing with lender hassles, real estate market, unusual homes, mortgage origination stats, etc. = $36M Beachfront Beauty on Maui Hawaii Excerpts: What exactly makes this oceanside manse on Maui so desirable? The four-bedroom, 4.5-bath

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Appraisal Real Estate Contracts Design 67

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. Based on our read of 2021 Home Mortgage Disclosure Act (HMDA) data, we estimate that total originations volume last year was $4.4 Source: Mortgage Bankers Association.

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Lending Mortgage Real Estate Loan Officers 384

Housing Wire

MARCH 11, 2021

The Consumer Financial Protection Bureau (CFPB) announced Tuesday it will be watching out for any potential lending discrimination based on sexual orientation or gender identity, vowing to protect LGBTQ borrowers. “As a former mortgage banker and professional for nearly a decade, this is a welcome change of pace.

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Lending Legal Mortgage Real Estate 421

Simonson Real Estate

DECEMBER 6, 2022

Having worked with many different lending institutions completing new construction and planned renovation assignments, think of this article as a “best practices” reference to be shared with new lenders, credit analyst team members and borrowers navigating the commercial appraisal process for the first time. Prospective Values.

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Appraisal Process Real Estate Appraisal Renovations 78

Housing Wire

MARCH 29, 2022

And if these agencies were to find that a merger ran counter to public interest because of a bank’s discriminatory lending practices, it’s not likely anyone would know about it. And HUD can bring lawsuits claiming bias in mortgage lending. The law also required banks to lend within their communities.

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Lending Government Law Mortgage 370

Simonson Real Estate

JULY 10, 2020

The appraiser’s role is to provide arm’s length, third-party, neutral, and impartial opinions about the value of real property and provide assistance to those who own, manage, sell, invest in, or lend money on real estate. Helpful information includes tax parcel numbers, legal descriptions, number of buildings, building size, etc.

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Appraisal Process Appraisal Market Value Tenants 148

Clear Capital

NOVEMBER 30, 2021

And this comes courtesy of Next Mortgage News, thank you. They are a digital lending platform. The digital mortgage movement is alive and well. So I built a company in Europe that I sold in 2015. And, apparently 2021 is a record in investment in proptech — $9.5 But that’s mobile first. Daniel Mishin .

Landlords 69

Landlords Real Estate Tenants Investing 69

Housing Wire

JANUARY 20, 2021

Department of Housing and Urban Development declared Wednesday that the Federal Housing Administration will once again back mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. HUD said DACA recipients who are legally permitted to work in the U.S. are not eligible for FHA-insured mortgages.” .”

Mortgage 546

Mortgage Law Insurance Legal 546

On Q Financial

FEBRUARY 2, 2021

The Department of Housing and Urban Development announced on January 19, 2021, that the FHA would once again back mortgages for DACA recipients. Among other protections, DACA allows recipients to legally work in the U.S. are not eligible for FHA-insured mortgages.” History of FHA Loans for DACA Recipients.

Law 42

Law HOA Legal Government 42

Housing Wire

MARCH 8, 2024

The Consumer Financial Protection Bureau (CFPB) will be closely scrutinizing what it described as “junk fees” imposed on borrowers when closing a mortgage. Its new priority has provoked strong criticism from the mortgage industry. And, as they are fixed, they have an “outsized impact on borrowers with smaller mortgages,” it added.

Mortgage 458

Mortgage Legal Insurance Finance 458

Housing Wire

JUNE 25, 2021

” In other words, the agency said the 2020 update to the Fair Housing Act would have made it harder for those seeking justice to meet the legal threshold for proving unintentional discrimination. Supreme Court, which upheld the rule in 2015. ” Prior to the effective date of the 2020 rule, the U.S.

Legal 456

Legal Housing Market Landlords Development 456

Housing Wire

FEBRUARY 7, 2022

Independent mortgage banks have been “completely blindsided” by the increase in enforcement activity, said Daniella Casseres, who leads the mortgage regulatory practice group at law firm Mitchell Sander. As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality.

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Insurance Modernization Lending Mortgage 370