Housing Wire

APRIL 18, 2024

A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment.

Loan Officers 390

Loan Officers Human Resources Contracts Mortgage 390

Housing Wire

JANUARY 25, 2024

From at least August 29, 2022 to December 2, 2022, individuals who were not licensed as loan officers (LOs) in Connecticut acted as LOs by taking residential mortgage loan applications , soliciting Connecticut borrowers for mortgages and offering or negotiating terms of mortgages, according to the order issued earlier this month.

Loan Officers 329

Loan Officers Mortgage Finance Lending 329

Housing Wire

AUGUST 31, 2022

The lender has roughly 300 mortgage loan officers and 1,800 team members and does in-house processing and underwriting. billion in loans in the retail channel during the first half of 2022, good for 38th nationwide production volume but down 28.8% compared to the same period in 2021. . It funded $5.1

Lending 298

Lending Retail Legal Loan Officers 298

Housing Wire

JULY 19, 2022

Even in a downturn, the loan officer recruiting wars remain fierce. Beleaguered nonbank lender loanDepot is suing rival lender CrossCountry for allegedly dozens of poaching high-performing loan officers from its New York branches. Anthony Hsieh, founder and CEO of loandepot. billion in business.

Loan Officers 378

Loan Officers Contracts Legal Business 378

Housing Wire

DECEMBER 21, 2022

A representative for CrossCountry told HousingWire, “As a matter of practice, we do not comment on legal matters.” . In July 2022, loanDepot sued the rival again for allegedly poaching high-performing loan officers from its New York branches. billion in business.

Legal 352

Legal Loan Officers Contracts Business 352

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 270

Legal Contracts Lending Loan Officers 270

Housing Wire

MARCH 24, 2023

As for the “limitations,” it’s not always correct, and much data has not been updated after 2021. ChatGPT for lenders Several use cases exist for mortgage companies and loan officers to use ChatGPT and AI. ChatGPT wrote it as a legal issue and all of a sudden, the developer showed up at her house,” he said.

Loan Officers 466

Loan Officers Legal Development Marketing 466

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As

Loan Officers 447

Loan Officers Mortgage Business Retail 447

Housing Wire

AUGUST 11, 2022

That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits. In August 2021, Cadence Bank settled allegations of redlining which stemmed, in part, from the bank’s loan officers’ lack of Spanish language skills.

Lending 346

Lending Finance Loan Officers Legal 346

Housing Wire

JUNE 2, 2022

CrossCountry Mortgage is suing Guild Mortgage for poaching a former Las Vegas branch manager and allegedly convincing her to steal proprietary information, the latest escalation in a brewing legal battle between the retail mortgage lenders. The lawsuit also claims that Guild convinced Casimiro to divert loans in process to be closed.

Loan Officers 333

Loan Officers Retail Legal Clients 333

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. Illinois-based Interfirst Mortgage , legally known as Chicago Mortgage Solutions LLC , issued pink slips to employees this month amid forecasts that housing sales are expected to slump even more next year than 2022.

Marketing 332

Marketing Loan Officers Business Mortgage 332

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 352

Retail Contracts Legal Business 352

Housing Wire

JANUARY 6, 2023

billion in mortgage volume in the third quarter of 2022, which was 71% lower than the $88 billion in volume it produced in the same period in 2021, when refinancing business was still plentiful. The mortgage tech platform Modex shows that the company has about 5,700 active loan officers and 1,720 branches. Rocket originated $25.6

Loan Officers 319

Loan Officers Mortgage Business Marketing 319

Housing Wire

FEBRUARY 5, 2024

Seely joined Guild in 2021 when the California-based lender paid $196.7 RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. Following the M&A transaction , Seely signed a five-year employment agreement with Guild in May 2021. In 2020, it originated $8.5

Retail 361

Retail Contracts Loan Officers Mortgage 361

Housing Wire

FEBRUARY 6, 2023

In May 2021, UWM’s CEO Mat Ishbia asked brokers to sign an “All In” agreement by pledging to stop working with Rocket or Fairway. More than 17,000 loan officers joined the mortgage broker channel this year, with about half of them coming from the retail channel, Ishbia told analysts in its latest third quarter earnings.

Mortgage 287

Mortgage Loan Officers Retail Legal 287

Housing Wire

NOVEMBER 24, 2021

Trevor Dickens, 29, worked for loanDepot from 2015-2017 and 2020-2021, at the call center located in Plano (TX), when the company allegedly refused accommodations for his medical needs and subjected him to humiliation and anti-homosexual slurs. His job was to receive and make calls to customers and pass them along to loan officers.

Human Resources 370

Human Resources Loan Officers Retail Mortgage 370

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

JANUARY 6, 2023

The lawsuit was filed on December 23 in the Superior Court of the State of California for the County of Orange by about 40 former loanDepot employees, including loan officers, processors, underwriters, loss mitigation and foreclosure specialists. The company produced $47.4 accordingly.

Loan Officers 408

Loan Officers Law Mortgage Real Estate 408

Housing Wire

MAY 29, 2024

‘Flying under the radar’ Based on public data from Affirm — a market leader in the BNPL space — Wells Fargo economists Tim Quinlan and Shannon Seery Grein estimate that BNPL providers originated $46 billion in loans in 2023. It found 180 million BNPL loans originated that year for a total of $24.2

Mortgage 348

Mortgage Clients Sellers Loan Officers 348

Housing Wire

MAY 3, 2023

Unlike loan officers, whose commissions are highly regulated by the government, real estate agent commissions are based largely on long-standing industry practices and market forces. The legal threat that looms largest is what’s known as the “Moehrl case.”

Agents 389

Agents Real Estate Agent Brokerage Real Estate 389

Housing Wire

APRIL 13, 2022

Since 2016, legal immigration growth has declined by 40%. Since 2016, legal immigration growth has declined by 40%. Increasing the supply of legal immigrant construction workers would accelerate economic growth. Black homeownership rates have declined from 48.4% in 2001 to 44.8%

Insurance 367

Insurance Construction Government Lending 367

Housing Wire

AUGUST 31, 2022

Based on our read of 2021 Home Mortgage Disclosure Act (HMDA) data, we estimate that total originations volume last year was $4.4 For example, within these firms, there are occupations such as loan officers, loan interviewers, title-related occupations, and loan counselors that could apply to both mortgage and non-mortgage lending.

Lending 382

Lending Mortgage Real Estate Loan Officers 382

Housing Wire

MARCH 29, 2022

Trustmark Bank , for example, settled charges of redlining in the Memphis area for $5 million with the DOJ, the CFPB and the OCC in 2021. Although half of Memphis’ census tracts are majority-minority, Trustmark did not assign a single mortgage loan officer to any of its branches in those areas, the federal government said.

Lending 351

Lending Government Law Mortgage 351

Housing Wire

FEBRUARY 7, 2022

In California’s Contra Costa County, where the median home listing price is now $749,000, a loan officer priced a loan for a potential borrower with less-than-perfect credit, who had found a listing for $650,000. Four in five FHA purchase mortgages went to first-time homebuyers in 2021. Premium product.

Insurance 334

Insurance Modernization Lending Mortgage 334

Appraisal Today

MAY 10, 2024

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. The mortgage loan officer handling the loan? There is administrative time involved, as well as legal factors. Appraisersblogs with Dave Towne’s opinions plus many appraiser comments. Was it the borrower?

Reconsideration of Value 73

Reconsideration of Value Appraisal Real Estate Insurance 73

PennyMac

AUGUST 10, 2022

Credit scores also affect other parts of your FHA loan eligibility, such as your debt-to-income (DTI) ratio, down payment minimums, interest rates and more. The better your score, the more flexibility there is with other requirements of the loan. Credit Score Between 500-619: Pennymac buyers likely qualify with a higher down payment.

Insurance 36

Insurance Buyers Mortgage Renovations 36