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Experts weigh in on whether seniors should get new mortgages: Bankrate

Housing Wire

This is according to experts who spoke to personal finance website Bankrate about the concept of taking on a new mortgage in retirement. Age information is collected at the time of origination, but only for Home Mortgage Disclosure Act (HMDA) purposes. 30-year mortgages were never meant to be for them. So she was approved.”

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Mortgage tech firm Lender Toolkit sues two lenders for nonpayment

Housing Wire

Mortgage tech firm Lender Toolkit sued two mortgage lenders claiming that the companies failed to make payments while continuing to use its services and software solutions. Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. That’s according to separate filings made in the U.S.

Mortgage 270
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Keller Williams’ KWx announces new executive team

Housing Wire

The announcement named Stacie Herron as KWx chief legal officer; Dave Smith as president of Keller Home Financial Services; TV Kumaresh as head of strategy planning and integration; and Paige Gorman as vice president of integration. mortgages, and was CEO and president of CitiMortgage Inc. retail bank and mortgage operations.

Retail 404
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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. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgage 482
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FHFA appoints general counsel to create “world-class regulator”

Housing Wire

Clinton’s long-standing career in public service, in-depth legal expertise in housing policy and executive leadership skills will help bolster FHFA’s work as a world-class prudential regulator.”. When Calabria first took over as head of the agency, he focused on mortgage giants Fannie Mae and Freddie Mac and their future in conservatorship.

Legal 445
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Cenlar FSB taps co-CEOs to replace Greg Tornquist

Housing Wire

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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Knox Financial announces $10 million in Series A funding

Housing Wire

Knox automates and oversees a property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking, and bill pay. The company has brought on more than $80 million in investment properties since its launch in 2019.

Landlords 376