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CFPB bans RMK Financial Corporation from mortgage lending industry

Housing Wire

The CFPB issued the initial agency order against RMK for, among other things, sending advertisements to military families that led the recipients to believe the company was affiliated with the U.S. RMK originated consumer mortgages, including mortgages guaranteed by the VA and mortgages insured by the FHA. government.

Lending 357
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First American fined $1 million for illegal perks to agents

Housing Wire

The company, one of the “Big Four” title insurers, agreed to pay a $1.185 million penalty after California state regulators alleged that a marketing representative provided agents illegal perks such as video marketing and drone footage of listings with placement on social media sites, and bus caravans to promote listings.

Agents 424
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Opinion: More can be done to shorten the average time to close

Housing Wire

In fact, if you were to describe the home-buying experience solely upon the things we see in advertisements, the home-buying process would end with the sales contract, and all parties would merrily proceed directly to the handing over of the keys. It doesn’t lend itself to a 24-hour cycle.

HOA 410
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ALTA shakes up leadership team with staff promotions

Housing Wire

She ensured the association continued to provide networking and educational opportunities to the title insurance industry within the new platform. After the onset of the pandemic, Gottheim helped ensure the title insurance industry was deemed an essential business. WFG reports its highest volume months ever during Q2 and Q3 of 2020.

Insurance 224
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Opinion: More should be done to shorten the average time to close

Housing Wire

In fact, if you were to describe the home buying experience solely upon the things we see in advertisements, the process would end with the sales contract and all parties would merrily proceed directly to the handing over of the keys. It doesn’t lend itself to a 24-hour cycle.

HOA 396
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RESPA enforcement is back — are you ready?

Housing Wire

“The line of what is legal and illegal depends on who is running the CFPB,” Steve Murray, partner at RealTrends Consulting , said. Under MSAs, a lender or title insurer markets the services of a real estate agent or brokerage, and vice versa, in exchange for a set fee.

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15 Costs to Consider When Starting an Appraisal Business

McKissock

Consider the cost of advertising. If you’re taking over an existing business—especially if you’re working primarily with banks—your advertising budget will probably be small. If you’re starting a new business, your up-front advertising spend could be higher. Business insurance is a must. You need to establish your brand.