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HUD sued over alleged failure to refund mortgage insurance premiums

Housing Wire

Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. ” This is a developing story.

Insurance 479
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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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Zillow to list housing discrimination protections

Housing Wire

The app also lists any local laws protecting renters who use veteran’s benefits or Social Security insurance payments to pay their rent. The update expands Zillow’s Local Legal Protections tool, which was created in 2018 to help LGBT home searchers identify if their rights were protected by local laws in certain jurisdictions. .

Landlords 466
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Cenlar FSB taps co-CEOs to replace Greg Tornquist

Housing Wire

Dave Applegate, a board member since 2020, has been named the company’s chairman. Chief Operating Officer Rob Lux was named co-CEO for operations, technology, business development, client management, human resources, and legal. Tornquist served the company for 35 years and became CEO in 2008.

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ALTA shakes up leadership team with staff promotions

Housing Wire

She ensured the association continued to provide networking and educational opportunities to the title insurance industry within the new platform. After the onset of the pandemic, Gottheim helped ensure the title insurance industry was deemed an essential business. WFG reports its highest volume months ever during Q2 and Q3 of 2020.

Insurance 252
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Ex-RealFi worker sues male execs for sexual harassment

Housing Wire

Georganne Youngclaus, the former marketing director at RealFi, filed a civil lawsuit against a group of top male executives at the lender, alleging that they engaged in “severe and pervasive patterns of mentally and physically abusive conduct” from May 2016 through July 2020. rebranded to RealFi in August 2020.

Insurance 347
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Remote online notarization is the proper path forward for digital closings

Housing Wire

During the first six months of 2020, the Federal Housing Finance Agency reported that the volume of e-mortgages purchased by Fannie Mae and Freddie Mac spiked significantly. introduced the Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2020, which allows for the immediate use of RON nationwide.

Law 441