Remove 2020 Remove Development Remove Legal Remove Lending
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HUD ends silence on targeted lending programs

Housing Wire

The Department of Housing and Urban Development (HUD) on Tuesday resolved uncertainty around special purpose credit programs, 45 years after Congress allowed lenders to tailor products to groups that have historically been excluded from homeownership. In a legal memo, HUD stated that SPCPs are allowed under the Fair Housing Act.

Lending 441
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Wells Fargo workers allege anti-Latino bias in predatory mortgage scheme

Housing Wire

Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads. For example, Wells Fargo has developed an ‘Earn the Business’ program for the Bilingual team. The bank, which paid a $3.7

Mortgage 370
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Stavvy lands $40 million Series A for aggressive growth

Housing Wire

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. COVID19 certainly accelerated development and focus on servicing, coming out of 2019 with record low default and foreclosure.”. Presented by: Sagent Lending Technologies.

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Non-QM lender Athas Capital Group ‘bows out like gentlemen’

Housing Wire

According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. Athas Capital has been credited for “pioneering the re-birth of ‘sane’ subprime lending,” according to the company website. Presented by: Teraverde.

Lending 432
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HW Media acquires REAL Trends to combine two of real estate’s most powerful media outlets

Housing Wire

mortgage and housing markets and serves an audience of lending, servicing, investment and real estate market participants. In 2020, HousingWire surpassed 10 million annual unique visitors and has over 100,00 subscribers to its newsletters. In connection with the transaction, Goodwin Procter LLP served as HW Media’s legal counsel.

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How Blend plans to survive a shrinking mortgage market 

Housing Wire

” Blend is reducing general and administrative expenses in human resources, finance, and legal, but decided not to cut costs related to engineering and product development. Meanwhile, consumer banking transactions totaled just 300,000 last year, from 87,000 in 2020, according to the company’s most recent earnings statement.

Mortgage 397
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Two Southern banks complete mortgage eNote transfer

Housing Wire

Officials said 11 federal home loan banks set servicing system requirements relating to eSignatures and eNote documentation in early 2020 – the culmination of three years of development. Full e-Closings reduce the use of paper, legal fees, mailing and courier costs.

Mortgage 325