Housing Wire

MARCH 6, 2023

A former employee is suing the companies, alleging they “abruptly terminated hundreds of its employees” without giving legally required 60-day advance notice as required by the Worker Adjustment and Retraining Notification Act ( WARN Act ). HousingWire first reported on the Celebrity’s several layoff rounds on Feb. Volumes reached $5.9

Loan Officers 369

Loan Officers Retail Legal Lending 369

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 351

Contracts Loan Officers Legal Best Value 351

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). But the crux of the commissioner’s findings focuses on unlicensed origination activities.

Loan Officers 331

Loan Officers Mortgage Finance Lending 331

Housing Wire

MARCH 30, 2023

A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor and Workforce Development shows the job cuts will affect mortgage loan officers, final “docs” associates, desktop support professionals and business solutions architects, among others. “As mortgage lender by volume last year.

Retail 371

Retail Loan Officers Legal Technology 371

Housing Wire

AUGUST 29, 2023

Ozment was hired in April 2022 and was given access to Lower’s confidential information and trade secrets, including customer identification, financial information and lending objectives. He left the lender in a “sudden coordinated departure in November 2022,” Lower alleged in its suit. Lower originated a total of $4.24

Loan Officers 325

Loan Officers Lending Business Mortgage 325

Housing Wire

JUNE 6, 2023

Rocket Mortgage is looking to hire local loan officers at a time when mortgage rates are high and the industry remains heavily reliant on the purchase market. According to Rocket’s job post, the loan officer position is remote and requires a minimum of three years of experience in mortgage loan origination.

Loan Officers 289

Loan Officers Mortgage Retail Real Estate Agent 289

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. The lender and LO can make or break the transaction.”

Buyers 375

Buyers Agents Loan Officers Real Estate 375

Housing Wire

FEBRUARY 13, 2023

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. The counterclaim is a response to a lawsuit filed by JIM in December 2022. Darren Heitner, JIM’s attorney and founder at Heitner Legal , P.L.L.C,

Legal 271

Legal Contracts Lending Loan Officers 271

Housing Wire

JANUARY 19, 2023

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The mystery as to what happened to its loan pipeline and funding endure. Shocked employees didn’t receive their last paychecks. Michael Strauss’s Smart Rate?

Mortgage 393

Mortgage Investors Legal Loan Officers 393

Housing Wire

NOVEMBER 23, 2022

Based on recent data from the Mortgage Bankers Association (MBA) and Stratmor, Cameron said nonbank turnover rates for processors, underwriters and closers were typically in the range of 35% to 50% in the first half of 2022, compared to 18% to 22% for banks. Originations in October 2022 plummeted more than 95% year over year to $10.7

Marketing 333

Marketing Loan Officers Business Mortgage 333

Housing Wire

JANUARY 5, 2023

After its due diligence, Sprout would send a “cleared to purchase” confirmation, which is what happened with a $7,581,712 package of loans originated from January to March 2022, according to Loan America. Loan America also claims it faced losses when forced to sell the loans to a third party to mitigate its damages.

Insurance 376

Insurance Loan Officers Mortgage Business 376

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 354

Retail Contracts Legal Business 354

Housing Wire

AUGUST 25, 2023

The Arizona-based lender relaunched its forward mortgage origination business in June after ceasing it in December 2022 against the backdrop of rising interest rates. In 2022, AmeriFirst closed $2.5 billion in loan origination, data from Modex showed. The Arizona lender logged a production volume of $3.6

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

AUGUST 31, 2022

At 5 basis points in first-quarter 2022, and at a loss of 5 basis points in second-quarter 2022, the industry is now struggling with the perfect storm of lower volume, lower revenues, and higher costs per loan. It is also unclear in the BLS data how mortgage loan servicing personnel are categorized.

Lending 382

Lending Mortgage Real Estate Loan Officers 382

Appraisal Today

MAY 10, 2024

The mortgage loan officer handling the loan? There is administrative time involved, as well as legal factors. There are few bank-owned (REO) sales right now, but when they happen, they’ve been a combination of older loans and some newer ones (but not really people who bought in 2022 at peak prices).

Reconsideration of Value 76

Reconsideration of Value Appraisal Real Estate Insurance 76

Lamacchia Realty

MARCH 4, 2024

Unlike loan officers at the bank or credit unions who work for a single institution, mortgage brokers have access to a vast network of lenders, providing borrowers with a wider range of options. Streamlined Process and Time Saving In the fast-paced world of real estate, time is of the essence.

Mortgage 64

Mortgage Legal Realty Buyers 64

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. Loan limits are established by the FHA and can vary by county. Mortgage Insurance.

Insurance 36

Insurance Buyers Mortgage Renovations 36

Housing Wire

FEBRUARY 7, 2022

A spokesperson for HUD said the agency could not discuss investigations or strategy of fair lending enforcement, but said that fair lending is a priority of the Biden-Harris Administration and HUD. In August, HUD Secretary Marcia Fudge signed an agreement with the Federal Housing Finance Agency to strengthen fair lending enforcement.

Insurance 335

Insurance Modernization Lending Mortgage 335