Housing Wire

SEPTEMBER 26, 2023

Mortgage servicer Nationstar , doing business as Mr. Cooper , has filed a lawsuit against electronic payment processing vendor ACI Payments related to the damages it allegedly suffered from unauthorized mortgage payments imposed on its customers two years ago. district court in Texas on Sept. In total, ACI initiated around 1.4

Mortgage 325

Mortgage Legal Fees Legal Contracts 325

Housing Wire

MAY 29, 2024

Earlier this year, New Jersey-based mortgage broker Joe Racamato, president of Silex Financial Group Inc., Traditionally, Silex Financial Group ran the initial numbers for a potential borrower to qualify for a mortgage based on what’s on their credit report, according to Racamato. Meanwhile, BNPL loans are growing rapidly.

Mortgage 356

Mortgage Clients Sellers Loan Officers 356

Housing Wire

OCTOBER 1, 2021

United Wholesale Mortgage. EVP, Compliance and Legal. Mortgage Champions. ICE Mortgage Technology. AmeriHome Mortgage Company. AmeriHome Mortgage. Fairway Independent Mortgage Corporation. Rocket Mortgage. First Community Mortgage. Cornerstone First Mortgage. Company Name.

Finance 356

Finance Technology Legal Mortgage 356

Housing Wire

MAY 29, 2024

Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. Kind Lending, a California-based lender founded by industry veteran Glenn Stearns, is a client of LendArch , a mortgage consulting firm that Richards founded in 2021.

Lending 268

Lending Loan Officers Retail Legal 268

Housing Wire

JANUARY 10, 2024

Guild Mortgage has filed a petition in a district court in Washington to confirm a $10.7 million award resulted from an arbitration dispute against three former employees accused of poaching when they transitioned to rival CrossCountry Mortgage. A spokesperson for CCM wrote that the company “does not comment on legal matters.”

Legal 386

Legal Lending Contracts Mortgage 386

Inman

MAY 22, 2023

Julie de Pontbriand of EasyKnock and Nikolai Fraiture of The Strokes have been engaged in a legal battle over a coveted greenspace behind their adjacent properties since 2021.

Legal 120

Legal Finance Mortgage 120

Housing Wire

AUGUST 8, 2023

Mortgage tech firm Lender Toolkit sued two mortgage lenders claiming that the companies failed to make payments while continuing to use its services and software solutions. Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. Both lenders entered into a contract with Lender Toolkit in 2021.

Mortgage 267

Mortgage Contracts Legal Business 267

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Is there demand for “mortgages” to buy virtual real estate in the Metaverse?

Real Estate 527

Real Estate Mortgage Property Taxes Law 527

Housing Wire

JULY 5, 2023

District Court for the Western District of Texas by a group of current and former staffers from the company’s bilingual mortgage sales team alleging race-based discrimination. Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads.

Mortgage 351

Mortgage Lending Legal Business 351

Housing Wire

APRIL 28, 2022

Residential real estate brokerages will not do as well in 2022 as they did in 2021, but let’s not get carried away. The pair’s spinoff company, dubbed Guaranteed Rate Affinity , lost $3 million in operating income for the first quarter, after making $61 million in quarter one 2021. Ryan Schneider, CEO of Realogy.

Mortgage 340

Mortgage Brokerage Agents Real Estate Agent 340

Housing Wire

MARCH 4, 2024

Three Bayview Asset Management -owned mortgage servicers are seeking to halt a plaintiff’s filing in a data breach lawsuit, citing an overabundance of confidential information shared about the incident, National Mortgage News first reported. and Fairway Independent Mortgage Corp. The objection, filed on Feb.

Mortgage 348

Mortgage Clients Development Legal 348

Housing Wire

JANUARY 3, 2023

lender United Wholesale Mortgage (UWM) notched a partial win in a lawsuit against broker shop America’s MoneyLine (AML) regarding the controversial “ultimatum” it imposed two years ago. A spokesperson for UWM said the company does not “comment on legal matters that are currently pending.”

Legal 476

Legal Law Brokerage Mortgage 476

Housing Wire

APRIL 23, 2024

Chamber of Commerce has vowed to take legal action against the FTC, according to a statement calling the ban “an unlawful power grab.” The rule follows through on an Executive Order issued by President Joe Biden in the summer of 2021, who directed the FTC to ban or limit such agreements in the U.S. labor force.

Real Estate Agent 396

Real Estate Agent Loan Officers Lending Real Estate 396

Housing Wire

APRIL 14, 2021

Non-QM lender Sprout Mortgage has brought on Infosys ‘s chief information officer and global director of real estate finance solutions, Henry Santos , as its own CIO and executive vice president, the company announced Tuesday. In her new role, LaRaia will oversee all legal and regulatory compliance functions.

Mortgage 264

Mortgage Lending Legal Modernization 264

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 355

Mortgage Legal Lending Investors 355

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 354

Mortgage Legal Lending Investors 354

Housing Wire

APRIL 22, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. Cooper Group for $422 million in March 2021.

Mortgage 368

Mortgage Marketing Human Resources Clients 368

Housing Wire

MAY 10, 2024

The Consumer Financial Protection Bureau (CFPB) and Freedom Mortgage were handed minor setbacks by the presiding and magistrate judges, respectively, in a case that the regulator brought in widespread violations in its 2020 submission of Home Mortgage Disclosure Act (HMDA) data. The original case was filed in the U.S.

Mortgage 318

Mortgage Law Clients Development 318

Housing Wire

MAY 10, 2023

At that point, Home Point said it would manage its balance sheet and mortgage servicing rights ( MSR ) portfolio. Wachtell, Lipton, Rosen & Katz and Simpson Thacher & Bartlett LLP were the legal advisors to Mr. Cooper in the transaction. decline compared to 2021. billion in 2022, a 71.6%

Legal 369

Legal Sellers Inventory Mortgage 369

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. He said the lenders were inhibiting mortgage brokers from growing their business.

Contracts 418

Contracts Loan Officers Lending Retail 418

Housing Wire

JULY 19, 2022

Fannie Mae and Freddie Mac ’s regulator imagines a future where, perhaps through artificial intelligence and machine learning, errors in mortgages are identified in real time before a loan is closed. billion in 2021, up from $0.4 billion in 2021, up from $0.4 How mortgage lenders are qualifying the value of fintech solutions.

Mortgage 350

Mortgage Finance Technology Legal 350

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 372

Loan Officers Legal Real Estate Lending 372

Housing Wire

APRIL 24, 2023

United Wholesale Mortgage (UWM) has moved to dismiss an amended counterclaim filed by broker shop America’s MoneyLine (AML) that accuses the lender of antitrust practices regarding the “ultimatum” it imposed two years ago. A spokesperson for UWM said the company had no comment. Any broker who did so would face fines.

Legal 317

Legal Law Retail Brokerage 317

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. He said the lenders were inhibiting mortgage brokers from growing their business. Since the financial penalty is removed, the ultimatum is – in effect – null and void, Rocket Mortgage said.

Mortgage 291

Mortgage Loan Officers Retail Legal 291

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. compared to the same period in 2021. . It funded $5.1

Lending 305

Lending Retail Legal Loan Officers 305

Housing Wire

FEBRUARY 14, 2022

Mason will assume the role March 7, and will replace Jerry Weiss, who has been general counsel on an interim basis since March 2021. Weiss was the fifth-highest earning named executive officer at Freddie Mac in 2021, with a total compensation of $2.3 of the GSEs’ common stock, in his longtime role of chief administrative officer.

Legal 338

Legal Law Lending Development 338

Housing Wire

MARCH 14, 2024

Michael Hild, who served as CEO of now-defunct reverse mortgage lender Live Well Financial , is seeking a one-year delay of a deadline to file a motion for a new trial based on what his attorney describes as “new evidence.” This is according to court documents reviewed by RMD.

Government 340

Government Legal Mortgage 340

Housing Wire

JULY 6, 2022

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. When people say credit will get so tight that we are headed back to 2008 levels of lending, they’re telling me they’ve never read the MBA’s mortgage credit availability index, not even one time.

Lending 477

Lending Mortgage Business Inventory 477

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 276

Legal Contracts Lending Loan Officers 276

Housing Wire

NOVEMBER 2, 2023

The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Exchange. 30, 2021, Richards resigned from her position at loanDepot.

Contracts 346

Contracts Legal Retail Training 346

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. Is now a good time to invest in real estate automation technologies?

Brokerage 392

Brokerage Real Estate Lending Mortgage 392

Housing Wire

DECEMBER 21, 2022

A representative for CrossCountry told HousingWire, “As a matter of practice, we do not comment on legal matters.” . Guild Mortgage and Caliber Home Loans have both sued CrossCountry on similar grounds. Guild Mortgage and Caliber Home Loans have both sued CrossCountry on similar grounds. billion in business.

Legal 359

Legal Loan Officers Contracts Business 359

Housing Wire

APRIL 21, 2022

The programs will be announced in the third quarter of this year, Perry said during a fair housing webinar hosted by the National Housing Conference , a mortgage trade association. Notwithstanding all of the guidance, we still hear concerns of legality from lenders,” Perry said. “So In December 2021, HUD Sec.

Lending 404

Lending Legal Law Development 404

Housing Wire

FEBRUARY 16, 2021

Department of Housing and Urban Development on Tuesday extended COVID-19 foreclosure and forbearance moratoriums for FHA and USDA loans to June 30, 2021. It also extended the deadline for the first legal action and the reasonable diligence time frame to 180 days. Mortgage servicers take steps to support borrowers amid COVID-19. “The

Legal 515

Legal Design Government Mortgage 515

Housing Wire

JUNE 5, 2023

originator United Wholesale Mortgage (UWM) is the target of two lawsuits filed by former underwriters alleging retaliation, a hostile workplace environment, gender/sexual harassment and failure to pay minimum wages and overtime. UWM forced employees to return to the office on July 9, 2021, per the lawsuits.

Human Resources 261

Human Resources Legal Training Mortgage 261

Housing Wire

MARCH 22, 2023

Quo was founded in 2018 with the mission of “making building wealth more equitable by simplifying the mortgage process and making homeownership accessible for everyone,” according to the firm. million in seed funding, led by SignalFire in December 2021 to develop the mobile app. Terms of the transaction were not disclosed.

Finance 311

Finance Real Estate Agent Loan Officers Legal 311

Housing Wire

APRIL 20, 2022

from 2012 to 2021. The GAO’s report said that from 2012 to 2021, 91 loans were originated in Hawaii using the program. In the entire country, 180 loan originations resulted from the program from 2012 to 2021. How Mortgage as a Service Levels the Playing Field for Minority and First-Time Homeowners.

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Government Lending Development Legal 527