Housing Wire

FEBRUARY 13, 2023

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022.

Legal 292

Legal Contracts Lending Loan Officers 292

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.

Mortgage 367

Mortgage Legal Lending Investors 367

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.

Mortgage 363

Mortgage Legal Lending Investors 363

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. 30, 2021, Richards resigned from her position at loanDepot. loanDepot filed the lawsuit on Oct.

Contracts 364

Contracts Legal Retail Training 364

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 386

Loan Officers Legal Real Estate Lending 386

Housing Wire

APRIL 18, 2024

McDermott joined G-Rate when the lender acquired Superior Mortgage in 2012, and resigned in November 2022. She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts. “We know Megan very well and treasured her 10 years with the company.

Loan Officers 413

Loan Officers Human Resources Contracts Mortgage 413

Housing Wire

JUNE 29, 2023

loanDepot is accusing its competitor Movement Mortgage of damaging its business by hiring over 25 employees in three months and “effectively crippling” “now-depleted” branches. It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot.

Retail 377

Retail Contracts Legal Business 377

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. Movement filed a lawsuit in a U.S.

Contracts 375

Contracts Legal Mortgage 375

Housing Wire

FEBRUARY 5, 2024

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. billion in mortgage loans. 2 in a U.S.

Retail 385

Retail Contracts Loan Officers Mortgage 385

Housing Wire

JUNE 6, 2023

Top originator United Wholesale Mortgage settled a lawsuit with broker shop Mid Valley Funding , in which the broker shop was accused of violating UWM’s controversial ultimatum by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. Ishbia hasn’t backed down.

Brokerage 342

Brokerage Contracts Legal Business 342

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 376

Legal Loan Officers Contracts Business 376

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 381

Loan Officers Contracts Legal Business 381

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

FEBRUARY 25, 2022

United Wholesale Mortgage (UWM) just sued two more broker shops that allegedly violated its controversial “ultimatum” by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. However, the lender said it was necessary to protect the long-term viability of the wholesale mortgage channel.

Contracts 370

Contracts Brokerage Investing Mortgage 370

Housing Wire

MAY 11, 2022

Texas-based multichannel lender Caliber Home Loans is accusing Ohio-based CrossCountry Mortgage of executing an “illegal scheme of unfair competition” by targeting its employees, stealing trade secrets and diverting customers. National Mortgage News first reported the case.

Technology 381

Technology Investing Legal Mortgage 381

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.

Marketing 371

Marketing Mortgage Investors Legal 371

Housing Wire

FEBRUARY 7, 2023

.” Still, he firmly believes it is important to seek out fresh perspectives amid the recent rise in mortgage rates. Like its peers, loanDepot is struggling amid a contracting mortgage market. Per Inside Mortgage Finance data, conditions have since worsened – the lender originated just $6.37

Real Estate 323

Real Estate Legal Contracts Mortgage 323

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Buyers 364

Buyers Sellers Finance Contracts 364

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? CE course: Avoiding Mortgage Fraud. Sign up now.

Appraisal 103

Appraisal Contracts Market Value Clients 103

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 232

Insurance Government Advertising Legal 232

Housing Wire

JULY 12, 2022

Beginning July 17, Freddie Mac will accept some mortgages with hybrid appraisals — but the list of caveats is lengthy. Mortgages for manufactured homes, investment properties, duplexes and fourplexes are not eligible. A certification lightens the legal liability of bias. The seller accepts it; they go into contract.

Appraisal 404

Appraisal Inspection Real Estate Agent Training 404

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." It's their job to protect the mortgage companies' investments. There are many instances nowadays where a house doesn't appraise for the price on the contract.

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. Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007.

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Appraisal Today

MAY 10, 2024

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted.

Reconsideration of Value 71

Reconsideration of Value Appraisal Real Estate Insurance 71

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. .”

Real Estate 306

Real Estate Brokerage Buyers Property Management 306

Appraisal Today

DECEMBER 8, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Non-lender appraisals, dealing with lender hassles, real estate market, unusual homes, mortgage origination stats, etc. = $36M Beachfront Beauty on Maui Hawaii Excerpts: What exactly makes this oceanside manse on Maui so desirable? Investor purchases of U.S.

Appraisal 67

Appraisal Real Estate Contracts Design 67

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. The average mortgage rate is a good 1 higher than twelve months ago, with an expected 3-5 Fed rate bumps over '22. It's a beauty contest and the most appealing offers are getting selected. Contingencies?

Buyers 52

Buyers Inspection Contracts Sellers 52

Appraisal Today

JUNE 23, 2023

NOTE: Please scroll down to read the other topics in this long blog post on AVMs and AI, good appraisal book, Real estate market, Fannie, non-lender appraisals, unusual homes, mortgage origination stats, etc. A home valued too high can lock a homeowner into an unaffordable mortgage and increase the risk of foreclosure.

Appraisal 87

Appraisal Real Estate Valuation Contracts 87

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

Housing Wire

MARCH 7, 2022

billion in 2021, according to an analysis of 10 different blockchain ledgers by DappRadar. The NFT representing ownership of an LLC representing ownership of a house is 100% legally meaningless. between signing a contract to buy a home and purchase closing is 50 days, according to a September 2021 report from ICE Mortgage Technology.

Real Estate 470

Real Estate Law Inspection Agents 470

Appraisal Today

JUNE 3, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market changing, appraisal bias research, unusual homes, mortgage origination stats, etc. Mortgage Lenders – 1989: FIREEA and appraiser licensing, 2009: HVCC and AMCs took over. appraiser live chats on AOL and Compuserve and limited use of.

Appraisal 52

Appraisal Contracts Real Estate Marketing 52

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. Based on our read of 2021 Home Mortgage Disclosure Act (HMDA) data, we estimate that total originations volume last year was $4.4 Source: Mortgage Bankers Association.

Lending 382

Lending Mortgage Real Estate Loan Officers 382

Listing Spark

SEPTEMBER 5, 2023

Ten percent of homes sold in 2021 were sold by their owners without a realtor. While their advice and services can be helpful, you aren’t legally required to use one. You might accept one of those but only if they have mortgage pre approval and don’t have a lengthy option period or onerous terms.

Realtors 36

Realtors Real Estate Agent Real Estate Agents 36

Appraisal Today

SEPTEMBER 2, 2022

In other words, USPAP doesn’t prohibit a mortgage broker from calling and asking you to develop an appraisal based on a predetermined value, but USPAP does prohibit you from accepting that assignment. Many of the homes that go to contract in the peak spring selling season close around 45 to 60 days later in July.” For the U.S.

Appraisal 52

Appraisal Contracts Clients Real Estate 52