Housing Wire

JUNE 29, 2023

The poaching lawsuit, filed on June 22 at a federal district court in Delaware, states that South Carolina-based Movement recruited and hired its employees in late 2021 and early 2022 to take trade secrets and confidential information. That’s not the Orange County, California-based lender’s only poaching legal battle.

Retail 406

Retail Contracts Legal Business 406

Housing Wire

FEBRUARY 9, 2024

Florida-based Okavage Group sued UWM in April 2021, following the lender’s announcement of an ultimatum that the wholesale lender will no longer partner with brokers who also work with Rocket Mortgage or Fairway Independent Mortgage Corp. for selling loans to rivals Rocket and Fairway despite agreeing to the contract.

Contracts 435

Contracts Retail Mortgage Lending 435

Housing Wire

SEPTEMBER 26, 2023

Mr. Cooper says that on or about April 23, 2021, ACI and/or its agents sent instructions to depository institutions of its customers that initiated ACH [automatic clearing house] debits for multiple monthly mortgage payments without the servicer’s knowledge or authorization. district court in Texas on Sept. million ACH withdrawals.

Mortgage 368

Mortgage Legal Fees Legal Contracts 368

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 413

Loan Officers Legal Real Estate Lending 413

Housing Wire

JANUARY 3, 2024

Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. million and liquidated damages for the company’s breach of contract. In total, he asks for about $13 million.

Contracts 404

Contracts Legal Mortgage 404

Housing Wire

MAY 10, 2024

million for the first time since May 2021. Additionally, the board also voted to change Article 4’s first standard of practice, which currently reads: “For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by Realtors prior to the signing of any contract.” represent themselves 2.

Realtors 275

Realtors Finance Agents Legal 275

Housing Wire

DECEMBER 21, 2022

A representative for CrossCountry told HousingWire, “As a matter of practice, we do not comment on legal matters.” . Finally, CrossCountry is likely to be found liable for aiding and abetting the Individual Defendants’ contractual and fiduciary violations, as well as being responsible for tortious interference with contract.”.

Legal 402

Legal Loan Officers Contracts Business 402

Housing Wire

APRIL 18, 2024

She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts. Another source, mortgage tech platform Modex , which collects data from public records nationwide, shows she originated over $95 million in 2020, $93 million in 2021 and $50 million in 2022.

Loan Officers 443

Loan Officers Human Resources Contracts Mortgage 443

Housing Wire

FEBRUARY 5, 2024

Seely joined Guild in 2021 when the California-based lender paid $196.7 Following the M&A transaction , Seely signed a five-year employment agreement with Guild in May 2021. 10, Guild sent a written notice of the employment agreement, saying he failed to cure the breaches and because of that, the company terminated his contract.

Retail 414

Retail Contracts Loan Officers Mortgage 414

Housing Wire

JUNE 6, 2023

UWM launched the “All in” initiative in March 2021, requiring brokers partners to stop sending loans to Rocket and Fairway for review, underwriting, purchase and funding if they were also doing business with UWM. The reality is if a broker breaks the contract and if they have, we will address it, and we will win,” he said in a statement.

Brokerage 337

Brokerage Contracts Legal Business 337

Housing Wire

MARCH 11, 2022

According to the legal filings , Barber’s alleged goal was to take real estate “prospects and leads assigned to other brokers” for “his own personal benefit” and that of the other defendants, Darcy Varney and eXp Realty. Barber had been working for the Harrelson Group on a contract basis since March of 2017. and 5:30 a.m.

Real Estate 330

Real Estate Realty Real Estate Agent Legal 330

Housing Wire

JULY 19, 2022

The lawsuit, filed in federal court in New York last week, alleges that since February 2022 “CrossCountry improperly poached no fewer than 32 loanDepot employees from loanDepot branches in Manhattan, Brooklyn and Fishkill, New York by interfering with loanDepot’s contractual and other legal rights.” billion in business.

Loan Officers 396

Loan Officers Contracts Legal Business 396

Housing Wire

OCTOBER 23, 2023

A judgment as a matter of law is permissible if there is no legally sufficient basis for a reasonable jury to find for the nonmoving party (in this instance, the plaintiffs) on the issue. According to Warner, the module that mentions commissions had just 138 views in 2020 and 2021, combined, among HomeServices’ 51,000 agents.

Law 450

Law Agents Realtors Contracts 450

Housing Wire

FEBRUARY 4, 2022

United Wholesale Mortgage (UWM) is making good on its threat to take legal action against partnering broker shops that also send business to Rocket Mortgage and Fairway Independent Mortgage , a violation of the wholesaler’s controversial broker agreement. million for repeatedly violating the terms of the agreement.

Legal 370

Legal Contracts Business Mortgage 370

Housing Wire

JULY 26, 2022

District Court of Southern District of New York against Sprout Mortgage and Sprout Mortgage Asset Trust for fraud, breach of contract, promissory estoppel and unjust enrichment. New Wave filed the lawsuit Monday in the U.S. Sprout’s executives did not immediately return a request for comment, nor did executives at New Wave.

Mortgage 378

Mortgage Legal Lending Investors 378

Housing Wire

JULY 26, 2022

District Court of Southern District of New York against Sprout Mortgage and Sprout Mortgage Asset Trust for fraud, breach of contract, promissory estoppel and unjust enrichment. New Wave filed the lawsuit Monday in the U.S. Sprout’s executives did not immediately return a request for comment, nor did executives at New Wave.

Mortgage 361

Mortgage Legal Lending Investors 361

Housing Wire

JANUARY 18, 2024

Myers joined Qualia in 2021 through the firm’s acquisition of Resware from Adeptive Software , which closed in December 2020. Qualia is suing both Settlor and Myers for misappropriation of trade secrets, and it is suing Myers for breach of contract, and Settlor for intentional interference with a contract.

Contracts 425

Contracts Government Business Marketing 425

Housing Wire

MAY 11, 2022

Caliber claims its rival hired more than 80 of its employees, among them 40 loan producers, beginning in February 2021. A CrossCountry spokesperson told HousingWire they don’t comment on legal matters. in April 2021 for $1.675 billion from the hedge fund Lonestar Funds, was No.

Technology 396

Technology Investing Legal Mortgage 396

Housing Wire

FEBRUARY 25, 2022

The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal court accusing broker partners of breach of contract for originating mortgages to its competitors. A warranty in the addendum said that if brokers submitted loans to Rocket or Fairway, it would constitute a breach of contract.

Contracts 369

Contracts Brokerage Investing Mortgage 369

Housing Wire

FEBRUARY 7, 2023

Like its peers, loanDepot is struggling amid a contracting mortgage market. loanDepot’s headcount has nearly halved from 11,300 at year-end 2021 to approximately 6,100 at the end of September 2022. Per Inside Mortgage Finance data, conditions have since worsened – the lender originated just $6.37

Real Estate 333

Real Estate Legal Contracts Mortgage 333

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

Marketing 397

Marketing Mortgage Investors Legal 397

Housing Wire

MAY 23, 2023

In other words, independent mortgage banks (IMBs) acting as buyers in M&A deals are being asked to assume the future R&W liabilities for past loans sold to Fannie Mae by the seller should the seller, at some point, be unable to honor the terms of the contracts.

Buyers 384

Buyers Sellers Finance Contracts 384

Housing Wire

DECEMBER 21, 2020

Headed into 2021, the American Land Title Association announced the promotion of six of its staff members to new leadership positions. “I This year, he has also been driving ALTA’s internal legal efforts regarding the SECURE Notarization Act while overseeing the Title Insurance Political Action Committee and its regulatory efforts.

Insurance 245

Insurance Government Advertising Legal 245

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Sign up now. Blog post: 9 Ways to Handle Appraisal Pressure.

Appraisal 103

Appraisal Contracts Market Value Clients 103

Miller Samuel

FEBRUARY 24, 2021

It is where the BOD gets to vote on Jim Amorin's new contract that the entire board has not seen. You can't vote on a contract in good conscience, if you haven't seen it or been exposed the the key terms. The next board meeting is coming up tomorrow and Friday, and it is a seminal moment for the Appraisal Institute.

Appraisal 259

Appraisal Design Contracts Real Estate 259

Lamacchia Realty

FEBRUARY 2, 2023

WHY YOU SHOULD USE A REAL ESTATE ATTORNEY TO SELL YOUR HOME As a home seller you may think you are saving money by not hiring an attorney to guide you through the legal aspects of your sale but in actuality, it could end up costing you more not to! Again, this is a legal document that needs to be done right!

Real Estate 77

Real Estate Sellers Legal Inspection 77

Empire Appraisal Group

FEBRUARY 29, 2024

Only 7% of homeowners sold as a FSBO over the last year – which matches the all-time low recorded in 2021, according to NAR data. More than a third of non-agent sellers, such as FSBOs (for sale by owner) or those selling to an iBuyer, said the process was more difficult than they expected.

Sellers 78

Sellers Agents Real Estate Agent Real Estate 78

Eppraisal

OCTOBER 19, 2021

In fact, according to the National Association of Realtors, "94% of metro areas saw double-digit price growth in the second quarter of 2021." There are many instances nowadays where a house doesn't appraise for the price on the contract. You have a legal right to ask the sellers to sell you the home for the appraised price.

Appraisal 66

Appraisal Contracts Sellers Home Value 66

Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. The debt level, both current and anticipated in 2021, is worrisome. We believe the bill won’t come due in 2021 and potentially not in 2022 either.

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Cleveland Appraisal Blog

JANUARY 7, 2021

Welcome to 2021! However, what if the car salesman said that the buyer would have to sign a contract stating that they could not resell the second car? In that analysis we must determine if the use of the land is legally permissible, physically possible, financially feasible and most profitable. Excess land or surplus land.

Appraisal 349

Appraisal Legal Inspection Real Estate 349

Housing Wire

NOVEMBER 3, 2023

Other threats Another lawsuit filed by REX in March 2021 against the trade group and Zillow , alleges anti-trust violations related to an NAR rule, known as the no-commingling rule, that prompted Zillow to separate non-MLS listings from MLS listings on its website, including listings from REX. “He got up to 20% to 30%, as I recall.”

Real Estate 330

Real Estate Brokerage Buyers Property Management 330

Hank Miller Team

FEBRUARY 27, 2022

Coming off the frenzied Atlanta 2021 real estate market, it's hard to imagine things could get tougher for home buyers, but they are. For these buyers, the max effort has to be given to finding a seller motivation that's not tied to the contract process. At or above list price may be required Know cash is king. Contingencies?

Buyers 52

Buyers Inspection Contracts Sellers 52

Housing Wire

JULY 12, 2022

A certification lightens the legal liability of bias. The seller accepts it; they go into contract. But Fannie Mae, based on 121,000 property data collection submissions in its pilot from April 2021 through March 2022, said lenders were able to shave off, on average, four days compared to traditional appraisals. that afternoon.

Appraisal 434

Appraisal Inspection Real Estate Agent Training 434

Appraisal Today

MAY 10, 2024

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. There is administrative time involved, as well as legal factors. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.18 percent from 7.29

Reconsideration of Value 69

Reconsideration of Value Appraisal Real Estate Insurance 69

Empire Appraisal Group

JULY 1, 2021

At an interactive session Thursday called “Ask an Appraiser” during the 2021 virtual REALTORS® Legislative Meetings , panelists shared best tactics for working with appraisers and making the process as smooth as possible for all parties involved in a transaction. Agents can also explain why some sales are not comparable.

Agents 78

Agents Appraisal Real Estate Realtors 78

Will Springer Realtor

APRIL 14, 2023

After nearly a year, the housing sector’s contraction is coming to an end,” notes Lawrence Yun, National Association of Realtors® chief economist, speaking about the U.S. Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months.” 

Contracts 36

Contracts Buyers Housing Market Design 36

Appraisal Today

DECEMBER 8, 2023

The first question to talk about is this: “Does the real estate appraiser have any ethical, moral, or legal responsibility to protect the consumer/mortgagor2, 3, 4 when appraising a property for a mortgagee/client?”… The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.98

Appraisal 66

Appraisal Real Estate Contracts Design 66