Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. The agreement puts an end to a short-lived legal dispute with the Treasury Department. Levine was fired in March over multiple accusations of workplace misconduct.

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Lending Finance Legal Contracts 368

Housing Wire

MARCH 22, 2023

Quo was founded in 2018 with the mission of “making building wealth more equitable by simplifying the mortgage process and making homeownership accessible for everyone,” according to the firm. 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.

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Finance Real Estate Agent Loan Officers Legal 321

Housing Wire

AUGUST 25, 2021

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.

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Housing Wire

JUNE 6, 2023

Top originator United Wholesale Mortgage settled a lawsuit with broker shop Mid Valley Funding , in which the broker shop was accused of violating UWM’s controversial ultimatum by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. According to the lender, AML owes it $2.8

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Brokerage Contracts Legal Business 335

Housing Wire

MAY 17, 2022

Private equity firm Narrow Gauge Capital (NGC) acquired Inco-Check, LLC , a provider of quality control audit mortgage software and fraud prevention services. With NGC’s acquisition of Inco-Check, the company aims to enhance loan quality and prevent fraud in a competitive mortgage and consumer lending market, Inco-Check said.

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Logistics Legal Investors Technology 315

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Is now a good time to invest in real estate automation technologies?

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Housing Wire

OCTOBER 27, 2023

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. According to Fannie Mae, one third of American homebuyers only get one quote on their mortgage before choosing a lender.

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Insurance Real Estate Buyers Real Estate Agent 492

Housing Wire

AUGUST 8, 2022

Cenlar FSB , the nation’s second-largest mortgage servicer and largest sub-servicer, has installed new leadership following the retirement of its president, CEO and chairman Greg Tornquist. Chief Operating Officer Rob Lux was named co-CEO for operations, technology, business development, client management, human resources, and legal.

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Human Resources Legal Finance Insurance 337

Housing Wire

OCTOBER 12, 2020

The most notable topic of discussion was the Consumer Financial Protection Bureau’s recent rescinding of a 2015 compliance bulletin related to marketing services agreements (MSAs), which the bureau said “does not provide the regulatory clarity needed on how to comply with RESPA and Regulation X.” appeared first on HousingWire.

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Mortgage Real Estate Finance Legal 434

Housing Wire

MARCH 11, 2021

“As a former mortgage banker and professional for nearly a decade, this is a welcome change of pace. The study also said that same-sex couples who were approved for mortgages paid 0.02%-0.2% “As a gay mortgage professional, this is an issue I have worked on for years and am very happy to see this decision.

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Lending Legal Mortgage Real Estate 395

Housing Wire

APRIL 18, 2024

McDermott joined G-Rate when the lender acquired Superior Mortgage in 2012, and resigned in November 2022. ” Regarding her compensation, McDermott, who was paid on a commission basis only, said G-Rate at various times denied her commission, identifying the mortgages as originated by another employee.

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Loan Officers Human Resources Contracts Mortgage 406

Housing Wire

JUNE 21, 2022

The company is also changing its name to Rithm Capital, reflecting the diversification of its businesses as more than just a mortgage real estate investment trust. In addition, the company will retain key personnel across functions such as investments, finance and accounting, legal, tax, and treasury. New Residential Investment Corp.

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Investing Real Estate Investors Legal 352

Housing Wire

OCTOBER 10, 2023

“I think folks tend to get creative and take a bit more risk than they might be willing to take in a market where rates are lower,” Holly Bunting, a partner at Mayer Brown in the areas of residential mortgage banking and consumer finance, said in an interview. However, the Freedom case represented a “wakeup call.”

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Real Estate Agent Loan Officers Real Estate Agents 418

Housing Wire

DECEMBER 16, 2022

For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. ALTA was proud to work closely with the Consumer Financial Protection Bureau (CFPB) to help develop these regulations, which went into effect in 2015. Consumers can shop around and should compare policies.

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Insurance Government Legal Fees Real Estate 464

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 369

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.

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Housing Wire

NOVEMBER 23, 2021

Homeowners will secure mortgages to finance their homes which can then be used as comparable sales for financing of nearby homes. According to the Urban Institute , the gap between white and Black homeownership rates is wider today than it was when redlining was legal — 42% of Black families are homeowners vs. 72% of white families.

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Investing Renovations Development Construction 419

Housing Wire

JUNE 30, 2022

First Guaranty Mortgage Corp. A 2021 report by industry publication Inside Mortgage Finance ranked Customers Bank as the 10th largest warehouse lender nationally in terms of financing commitments as of Q3 2021 — at $5.4 The lender then filed for Chapter 11 bankruptcy on Thursday, June 30.

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Finance Lending Mortgage Investing 361

Housing Wire

MAY 1, 2024

During the first quarter of 2024, Zillow recorded revenue growth across all sectors of its business, including a 31% annual jump in its rentals revenue to $97 million and a 19% year-over-year increase in its mortgage revenue to $31 million. Eighty-percent of all real estate transactions across the U.S.

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Agents Real Estate Contracts Real Estate Agent 353

Housing Wire

NOVEMBER 24, 2021

Trevor Dickens, 29, worked for loanDepot from 2015-2017 and 2020-2021, at the call center located in Plano (TX), when the company allegedly refused accommodations for his medical needs and subjected him to humiliation and anti-homosexual slurs. In August of 2021, Dickens resigned.

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Human Resources Loan Officers Retail Mortgage 370

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 382

Housing Wire

JULY 12, 2022

The company, which employs about 17 people, was founded in 2015, and is one of those approved to provide the Freddie Mac data report for its new remote inspection program. Beginning July 17, Freddie Mac will accept some mortgages with hybrid appraisals — but the list of caveats is lengthy. First, the option only applies to refinances.

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Appraisal Inspection Real Estate Agent Training 403

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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Housing Wire

MARCH 29, 2022

And HUD can bring lawsuits claiming bias in mortgage lending. Indeed, depositories’ mortgage lending to minorities is far behind that of nonbanks, a cruel irony since nonbanks do not have community reinvestment obligations. Photo provided by Calvin Bradford. DOJ and CFPB can bring lawsuits against alleged housing discrimination.

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Lending Government Law Mortgage 360

Appraisal Today

APRIL 26, 2024

NOTE: Please scroll down to read the other topics in this long blog post on agent concessions, History of appraisal bias back to 1930s, “one mile” rule and bias, unusual homes, mortgage origination stats, etc. April 24, 2024) — Mortgage applications decreased 2.7 percent from one week earlier WASHINGTON, D.C.

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Appraisal Real Estate Real Estate Agent Contracts 76

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

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.

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Law HOA Legal Government 42

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

Simonson Real Estate

DECEMBER 6, 2022

Helpful information includes tax parcel numbers, legal descriptions, number of buildings, building size, etc. Under fee simple ownership, a property owner may occupy the property and also has the right to sell, lease, mortgage or give an interest away. Key Appraisal Items to Communicate. Prospective Values.

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Appraisal Process Real Estate Appraisal Renovations 78

Simonson Real Estate

JULY 10, 2020

Helpful information includes tax parcel numbers, legal descriptions, number of buildings, building size, etc. Under fee simple ownership, a property owner may occupy the property and have the right to sell, lease, mortgage, or give an interest away. Key Appraisal Items to Communicate.

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Appraisal Process Appraisal Market Value Tenants 148

Houston Properties

JANUARY 13, 2021

In this analysis, we also show you current data along with key lessons from both the 2015 oil price crash and the 2008 great recession. Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007. Remember: real estate is hyper-local!

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Housing Market Marketing Real Estate Realtors 68

Will Springer Realtor

JUNE 6, 2023

The legalization of same-sex marriage in 2015 helped to improve homeownership opportunities for the LGBTQ+ community. Overall, there are 1.2M same-sex households in our country – nearly double the number since 2008. One report says 29% of LGBTQ+ people have children and that 22% of married same-sex couples are raising kids. “We

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Real Estate Realtors Buyers Legal 36

Zillow

JULY 30, 2018

The property tax rates vary among states, so try a mortgage calculator to estimate costs in your area. It also covers legal costs if someone is injured in your home or on your property. Sure, that monthly mortgage payment seems affordable, but don't forget to take homeowners association (HOA) fees into account.

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HOA Property Taxes Landlords Insurance 36

Zillow

JUNE 8, 2018

Some will cover just the basics, while others will transfer vehicles, provide cultural training, help pay closing costs or mortgage points buy down, or even provide employment assistance for an accompanying spouse or partner. Originally published September 1, 2015. No two companies offer the same relocation packages.

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Transportation Legal Training Law 59

Will Springer Realtor

APRIL 14, 2023

The sale of homes with pending legal issues cannot be completed until the matter is resolved. This has caused challenges for buyers seeking financing to purchase a home in the two-tower community that opened in 2015. That’s because traditional lenders typically do not underwrite loans when there is a high risk of pending litigation.

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Contracts Buyers Housing Market Design 36

The Robert Weiler Company

MARCH 15, 2021

Legally speaking, a special purpose property definition can be illustrated as any property that has limited use or marketability in addition to features intended for singular use. That’s why special purpose property appraisals and commercial mortgage preapprovals are vital to your ultimate (buy) decision. What Is It Anyway?

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Appraisal Property Appraisal Real Estate Buyers 158

Will Springer Realtor

MAY 13, 2024

MAY HOUSING UPDATE Even after a few weeks of mortgage rate jumps, the Seattle/King County housing market is displaying surprising strength. This is welcome news for both buyers and sellers, as most lenders will deny mortgage applications on a condo in active litigation. 2015-built, 2-story home (with basement) along 63 ft.

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HOA Transportation Construction Buyers 36