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Michigan attorney general reissues reverse mortgage consumer alert

Housing Wire

The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A Department of Housing and Urban Development (HUD)-approved counseling prior to closing the loan.

Mortgage 407
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Mortgage AI firm Candor conducts layoffs

Housing Wire

Future development projects will follow this collaborative approach with our clients and strategic partners. The company debuted in August 2020 with a mission to automate much of the underwriting process when making income, asset and lending decisions. In August 2021, Candor raised $12.5

Mortgage 348
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Movement to pay $24M to settle underwriting government loans fraud case

Housing Wire

million to settle allegations that it improperly originated and underwrote mortgages insured by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) programs. Therefore, lenders must follow FHA and VA rules to ensure only loans that meet credit and underwriting criteria are insured or guaranteed by the government.

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MISMO searches for participants for closing initiative

Housing Wire

The CLP forms a contract between a title insurance underwriter and a lender, in which the underwriter agrees to indemnify the lender for actual losses caused by certain types of misconduct by the closing agent, while the Title Commitment is a promise from your title company to issue the title insurance policy after the closing is completed.

Insurance 348
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With $150M in new funding, Endpoint plans to expand

Housing Wire

The company last announced a funding raise in November 2020 , when it secured $40 million from First American. The Los Angeles-based startup was designed and developed in a collaboration with BCG Digital Ventures , a global corporate venture, investment and incubation arm of the Boston Consulting Group.

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CRT protects GSEs, taxpayers from unexpected disasters

Housing Wire

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

Insurance 317
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Mary Ann Azevedo named Managing Editor of FinLedger

Housing Wire

Azevedo initially joined HW Media in June 2020 as Fintech Editor for HousingWire, and was quickly identified as the right talent to lead the launch of FinLedger as managing editor. . FinLedger officially launched on August 17, 2020. About FinLedger. Published by HW Media. Visit FinLedger.com to learn more. About HW Media.