Housing Wire

JANUARY 10, 2024

The case began in August 2021 when Guild filed a demand for arbitration claiming Christopher Flowers, Cory Flynn and Lisa Jolliffe, who left the Kirkland branch weeks before joining CCM, allegedly “engaged in a massive, coordinated effort to divert” its customers and employees.

Legal 421

Legal Lending Contracts Mortgage 421

Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. million in 2021. The goal is to build and amplify the affiliated agents’ own brands, Kasle explained.

Brokerage 397

Brokerage Real Estate Lending Mortgage 397

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. A spokesperson for District Lending did not immediately reply to a request for comment.

Contracts 441

Contracts Loan Officers Lending Retail 441

Housing Wire

APRIL 24, 2023

The case began in March 2021, when UWM CEO Mat Ishbia announced the lender would not work with brokers who also did business with Rocket Mortgage or Fairway Independent Mortgage. AML also claims that wholesale lending is a separate submarket of the mortgage industry, which has barriers to entry. Any broker who did so would face fines.

Legal 392

Legal Law Retail Brokerage 392

Housing Wire

APRIL 14, 2021

Santos had served at Infosys for two years before his latest appointment, and previously served as the North American lending executive for IBM. LaRaia has been in the industry for over 20 years and was previously the chief compliance officer/deputy general counsel at Supreme Lending.

Mortgage 348

Mortgage Lending Legal Modernization 348

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. The company originates and markets its mortgage lending services to Anywhere’s real estate brokerage and relocation subsidiaries.

Loan Officers 410

Loan Officers Legal Real Estate Lending 410

Housing Wire

FEBRUARY 13, 2023

Darren Heitner, JIM’s attorney and founder at Heitner Legal , P.L.L.C, Both sides in the dispute admit that the sponsorship was signed in November 2021 and that EPM made the required monthly payments of $187,500 from December 2021 through September 2022. They founded JIM in 2021 to compete in the Nascar Xfinity Series.

Legal 362

Legal Contracts Lending Loan Officers 362

Housing Wire

JULY 5, 2023

Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads. billion fine in December over an array of violations, including mortgage lending, did not immediately respond to a request for comment. The bank, which paid a $3.7

Mortgage 370

Mortgage Lending Legal Business 370

Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. from 2012 to 2021. The GAO said that the VA lacked the staff to run the lending program and failed to inform communities that it exists.

Government 541

Government Lending Development Legal 541

Housing Wire

SEPTEMBER 26, 2023

Cooper was completed in August, Home Point Capital agreed to settle for $5 million a class action lawsuit filed in 2021 by investors claiming the company made false and misleading statements related to its initial public offering (IPO).

Investors 405

Investors Lending Law Business 405

Housing Wire

FEBRUARY 4, 2021

The deal is expected to close in the second quarter of 2021 subject to shareholder approval, regulatory approvals and other customary closing conditions. Strategies lenders should adopt from direct to consumer lending. Sign up here.

Legal 458

Legal Investors Lending Finance 458

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. In his own statement Thursday, Chopra said companies have “legal responsibilities when they let a black-box model make lending decisions.”. The CFPB has raised concerns in the past that algorithmic models perpetuate discriminatory mortgage lending practices.

Law 421

Law Legal Valuation Government 421

Housing Wire

JULY 28, 2021

Digital lending and cloud banking startup Blend Labs has launched Blend Impact , a program focused on increasing access and equity in housing and financial services with Blend’s nonprofit partners. Launched in 2012, Blend raised $300 million in January 2021, not long after it introduced a series of consumer banking tools.

Legal 410

Legal Development Lending Design 410

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 384

Mortgage Legal Lending Investors 384

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 370

Mortgage Legal Lending Investors 370

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. Okavage Group didn’t respond to requests for comment.

Contracts 421

Contracts Retail Mortgage Lending 421

Housing Wire

FEBRUARY 6, 2023

In October 2021, Cindy Buhr – general counsel and executive vice president of legal and compliance, and in 2022, Gene Lugat – executive vice president of strategic support at PrimeLending featured among HousingWire Vanguards.

Legal 374

Legal Mortgage Lending Buyers 374

Housing Wire

MARCH 21, 2022

Chambliss will take over for Dionne Wallace Oakley, who has been balancing the diversity and inclusion role as well as her duties as chief human resources officer since August 2021. Chambliss is currently the deputy general counsel for mission and anti-predatory lending at the enterprise.

Human Resources 370

Human Resources Government Lending Finance 370

Housing Wire

JULY 14, 2022

Cuts also hit operations, risk and compliance, legal, finance, business operations and marketing teams, according to a presentation held on Wednesday afternoon. . Kiavi, which rebranded from Lending Home in November, ranked as the top short-term lender in the fix-and-flip space in 2021, with $2.7

Human Resources 397

Human Resources Construction Legal Investors 397

Housing Wire

MAY 24, 2021

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. Presented by: Sagent Lending Technologies. The company was recognized as one of the 2021 HW Tech100 winners for its native eSign and hybrid transaction tools.

Technology 420

Technology Lending Investors Modernization 420

Housing Wire

DECEMBER 9, 2021

Nominations for HousingWire’s Tech100 award are now open through next Friday, December 17, 2021. A 2021 Tech100 Mortgage honoree, Stavvy is helping organizations navigate complex financial and legal transactions easily and safely, allowing servicers to put customer experience at the forefront during tough times like a global pandemic.

Technology 395

Technology Legal Tools Clients 395

Housing Wire

DECEMBER 11, 2020

The recent string of executive-level hires is part of a company focus to prepare for growth through the end of this year and into 2021. In their new roles as co-managing partners, Graham will oversee all legal functions of the firm, while Shawn Black will manage the firm’s operations. The leadership change comes as Thomas Black, Jr.

Lending 393

Lending Legal Clients Development 393

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 420

Retail Contracts Legal Business 420

Housing Wire

AUGUST 5, 2022

Numerous organizations criticized the agencies for not proposing to grade banks based on data about their minority lending. Above all, we are extremely disappointed to see the lack of the explicit consideration of lending by race in a lender’s CRA rating,” wrote the St. Louis Equal Housing and Community Reinvestment Alliance.

Lending 421

Lending Development Mortgage Retail 421

Housing Wire

DECEMBER 13, 2021

The critical defect rate climbed to 2.27% in the second quarter of 2021, ending the trend of improvement in the previous two quarters. of the total), followed by borrower and mortgage eligibility (10.4%) and legal/regulatory/compliance (10.4%). In the most recent quarter, it was 2.01%, according to the report published on Tuesday.

Marketing 385

Marketing Legal Appraisal Process Appraisal 385

Housing Wire

APRIL 22, 2022

.” 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. The main cost reduction target is Title365 , a business acquired from Mr. Cooper Group for $422 million in March 2021. million in 2021, compared to $74.6

Mortgage 397

Mortgage Marketing Human Resources Clients 397

Housing Wire

OCTOBER 18, 2022

Racial Equity Accelerator for Homeownership, a collaboration between Urban Institute and Federal Home Loan Bank (FHLB) of San Francisco , on Monday released a report that examines how the adoption of alternative data can benefit Black households within the mortgage lending landscape. ” On-time payments.

Lending 421

Lending Mortgage Legal Design 421

The Robert Weiler Company

JANUARY 2, 2021

The contract is essentially a seller-financed lending agreement for the purchase of a property, which requires the buyer to pay monthly installments until a balloon payment is due. Otherwise, you risk defaulting on your loan and losing your car to the bank or lending institution that financed the vehicle. No legal title.

Contracts 143

Contracts Tenants Legal Sellers 143

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. In February 2023, Rocket said it would pay the legal costs of brokerages who are sued by UWM for sending loans to Rocket.

Brokerage 370

Brokerage Contracts Legal Business 370

Housing Wire

JANUARY 19, 2022

In addition, the proposed rule also envisions potentially requiring mandated reporting for trusts — defined, by FinCEN, as a legal “relationship in which one person holds title to property subject to an obligation to keep or use the property for the benefit of another.”. Using figures from NAR for 2020 and 2021, FinCEN estimates that 18.5%

Real Estate Agent 441

Real Estate Agent Real Estate Agents Insurance 441

Housing Wire

JULY 19, 2022

billion in 2021, up from $0.4 Those include inadequate regulation of the fintech sector, cybersecurity vulnerabilities due to “complex, poorly understood, or poorly managed innovations,” consumer privacy threats, fair lending violations, and legal, compliance and reputational risk. But that scenario is a long way off.

Mortgage 384

Mortgage Finance Technology Legal 384

Housing Wire

JUNE 30, 2022

Pennsylvania-based Customers Bank , which has warehouse lending operations located in Hamilton, New Jersey, is listed as the largest unsecured creditor in the FGMC Chapter 11 case — with a claim of $25 million, court pleadings show.

Finance 370

Finance Lending Mortgage Investing 370

Housing Wire

JANUARY 25, 2024

Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA). In 2021, LoanSnap secured $30 million in series B financing led by True Ventures. But the crux of the commissioner’s findings focuses on unlicensed origination activities.

Loan Officers 407

Loan Officers Mortgage Finance Lending 407

Housing Wire

NOVEMBER 23, 2022

In total, Home Point has shrunk its workforce from about 4,000 workers in the summer of 2021 to about 1,000 in the fall of 2022. billion in 2021. A snapshot of its operation offers an explanation of Intefirst’s struggling business. The lender originated a total volume of $953.2 million year-to-date, dropping from $2.14 million.

Marketing 384

Marketing Loan Officers Business Mortgage 384

Housing Wire

JUNE 8, 2022

Both plans rely heavily on special purpose credit programs , which allow lenders to target lending to protected classes without violating the Equal Credit Opportunity Act. . “A A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

Development 369

Development Finance Government Lending 369

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

In March 2021, UWM imposed on brokers its “all-in initiative,” ending its business relationship with partners who chose to continue sending loans to Rocket or Fairway for review, underwriting, purchase and funding. The disputes involve Californian brokerage shops Kevron Investments Inc. and Mid Valley Funding & Inv.

Contracts 370

Contracts Brokerage Investing Mortgage 370