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Park National Bank to pay $9M to settle redlining allegations

Housing Wire

District Court for the Southern District of Ohio last month, alleged that Park National failed to provide mortgage lending services by redlining majority-Black and Hispanic neighborhoods in the Columbus area from at least 2015 to 2021. The complaint, filed in federal court in the U.S.

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CFPB ponders how well HMDA captures discrimination

Housing Wire

The Consumer Financial Protection Bureau (CFPB) is launching a voluntary review of its mortgage data collection — a key tool in bringing redlining cases — to assess its effectiveness in detecting discrimination. The agency also uses HMDA data to identify and call attention to systemic issues in mortgage lending.

Lending 325
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Qualia hits unicorn status, acquires Adeptive Software

Housing Wire

Qualia has raised $160 million in venture capital since its founding in 2015. Modern real estate transactions require new infrastructure,” Nate Baker, chief executive officer and co-founder of Qualia, said in a statement. .” The price of the acquisition was not disclosed. Presented by: Rocket Pro TPO.

Lending 450
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AmeriHome plans to go public – Let’s look at the numbers

Housing Wire

AmeriHome on Thursday became the latest mortgage lender to file for a public offering, the latest to do so amid a coronavirus pandemic that has helped spur record origination volume this year. from 2015 to LTM Q2 2020, positioning us as the third largest correspondent producer.”

Valuation 248
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. In 2015, the family paid $250,000 for a 2,900-square-foot house in Ormond Beach, Florida. “They’ve had a manageable budget due to mortgage forbearance. .

Mortgage 345
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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. million consent order with Trident Mortgage Co., Attorney General Merrick Garland said in a statement.

Law 390
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“It’s math:” How mortgage solutions companies are fighting for survival

Housing Wire

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. Businesses and entire industries tanked during the pandemic, but it created an ideal environment for mortgage tech companies, some of which rode the wave to banner years and historic growth.

Mortgage 355