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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 A settlement with the U.S.

Legal 475
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Former Fannie Mae chief named as CEO of Silicon Valley Bank N.A.

Housing Wire

While the FDIC — an independent government agency that insures bank deposits and overseas financial institutions — declined to comment on Mayopoulos’ role, his career has been focused on financial and legal expertise. LendingClub’s mission is to transform the banking system.

Insurance 388
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Trade groups warn of “unintended consequences” from proposed AVM rules

Housing Wire

On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations. the trade groups state.

Valuation 370
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Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit

Housing Wire

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. It did not admit to any wrongdoing. Attorney Robert Brewer for the Southern District of California said in a statement. “We

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Epic Fail: The Appraisal Institute IRS 990s Show They Needs To Do A 180

Miller Samuel

As I've chronicled in the Appraiserville section of my Housing Notes newsletter since 2016, the scale of bureaucratic self-dealing of the executive committee and some members of the board of directors is breathtaking. The FOJs (Friends of Jim Amorin) have been used the freedom to undertake this self-dealing behavior.

Appraisal 259
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Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

Lisa Rice, president of the National Fair Housing Alliance , saw the statement and reached out to Frater to remind him of a related issue: a lawsuit the fair housing outfit had filed against Fannie Mae in 2016. Our REO maintenance standards are designed to ensure that all properties are tended to and treated equally.”.

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Angela Rastellini as Lamacchia Realty’s Broker of Record for Massachusetts and New Hampshire

Lamacchia Realty

In this role as a licensed broker of record, Angela acts as the designated representative for Lamacchia Realty and is responsible for ensuring legal compliance as well as upholding respective state real estate requirements. Thank you, Angela, for all you do!” stated Anthony Lamacchia, Owner/CEO of Lamacchia Companies.

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