Housing Wire

SEPTEMBER 7, 2023

Probably about 60 to 70% of our business comes from referrals from our previous clients,” Chris Gallo, a top producing LO in New Jersey, said. Attorneys, Realtors and clients are a big part of our repeat business.” Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs.

Buyers 382

Buyers Agents Loan Officers Real Estate 382

Housing Wire

DECEMBER 16, 2020

In a lawsuit filed last week, a mortgage brokerage claimed that one of its former loan officers stole a database containing client names and information and brought it with him to a new job at NEXA Mortgage. The suit mirrors an earlier, parallel legal action filed in Illinois state court. 2013 and February 2019.

Mortgage 389

Mortgage Loan Officers Brokerage Clients 389

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. “So, A couple of things.

Mortgage 381

Mortgage Loan Officers Advertising Clients 381

Housing Wire

OCTOBER 10, 2023

That’s because real estate agents and loan officers are in survival mode and desperate to close new business. “The line of what is legal and illegal depends on who is running the CFPB,” Steve Murray, partner at RealTrends Consulting , said.

Real Estate Agent 416

Real Estate Agent Loan Officers Real Estate Agents 416

Housing Wire

MARCH 26, 2021

million to more than 5,300 home mortgage consultants to resolve a pair of class-action legal claims that allege wage-and-hour violations in California, according to the settlement agreement in federal court. Wells Fargo agreed to pay $95.7 The deal will provide $62.8 A settlement with the U.S.

Legal 457

Legal Law Open Houses Loan Officers 457

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 366

Legal Loan Officers Contracts Business 366

Housing Wire

MARCH 24, 2023

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. As for the “limitations,” it’s not always correct, and much data has not been updated after 2021.

Loan Officers 469

Loan Officers Legal Development Marketing 469

Housing Wire

FEBRUARY 9, 2023

The lenders, both privately held, will retain their names and brands after the transaction, but APMC will be the new legal entity as the companies come together. The merger will result in an “increased lending footprint” to better serve clients, Paul Kessel, president of American Portfolio, said in a statement.

Mortgage 347

Mortgage Retail Loan Officers Lending 347

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 449

Loan Officers Mortgage Business Retail 449

Housing Wire

MAY 29, 2024

Racamato is now orienting his team to look closely at clients’ bank statements to find multiple — and often interest-free — installments of a few hundred or thousand dollars paid to the same company on a biweekly or monthly basis. He wants to know whether the potential borrower has acquired a buy now, pay later (BNPL) loan.

Mortgage 259

Mortgage Clients Sellers Loan Officers 259

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.

Loan Officers 348

Loan Officers Retail Legal Clients 348

Housing Wire

JANUARY 19, 2023

The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex. The Smart Rate website mentions that the mortgage lender offers purchase and refinancings, jumbo, FHA, adjustable, bank statement and investors loans.

Mortgage 393

Mortgage Investors Legal Loan Officers 393

Housing Wire

AUGUST 4, 2023

Real estate professionals who listen carefully better understand their clients’ wants and needs. They won’t waste time on mismatched properties or investments beyond a client’s reach. This does not mean you should allow clients to walk all over you. Decipher property valuation software for clients?

Real Estate Agent 352

Real Estate Agent Real Estate Agents Clients 352

Housing Wire

JUNE 29, 2023

The lawsuit follows: “In the weeks leading to their departures, the former employees accessed and misappropriated confidential and trade secret documents about loanDepot’s business, its employees, and its clients; information that, in the hands of Movement, was used to convert customers to Movement and away from loanDepot.”

Retail 367

Retail Contracts Legal Business 367

Housing Wire

AUGUST 29, 2023

Ozment as well as other former employees — loan officer Ron Hankins, underwriter Natalie Boyd and loan processor Kristin Mastrorilli — followed improper mortgage lending practices and lied to Lower about doing so in order to further line their pockets, according to the suit.

Loan Officers 337

Loan Officers Lending Business Mortgage 337

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 5, 2024

“While we do not comment on pending litigation, Guild’s long-standing reputation for doing what’s right is built from our core values of integrity and respect, and we are committed to those values with every employee, client, and partner,” Guild said in a statement. RMS had 70 offices in 14 states, 850 employees, and 250 loan officers.

Retail 375

Retail Contracts Loan Officers Mortgage 375

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 plaintiffs are demanding a jury trial and compensatory damages. ”

Loan Officers 422

Loan Officers Law Mortgage Real Estate 422

Housing Wire

SEPTEMBER 30, 2021

Lenders with the ability to adopt technology that drives efficiency and client satisfaction have a competitive advantage in today’s landscape. DocMagic delivers that technology in one seamless process provided by a single-solution suite designed to make the client experience as simple as possible. Digital adoption made easy.

Technology 286

Technology Clients Supply Chain Design 286

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. He has been focused on getting referrals from prior clients and online.

Buyers 498

Buyers Agents Mortgage Real Estate Agent 498

Housing Wire

JANUARY 24, 2023

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices.

Lending 348

Lending Law Legal Training 348

AmeriMac

MARCH 15, 2024

Appraisal Management Companies (AMCs) play a crucial role in the real estate industry by providing independent appraisal services to lenders and other clients. If any issues or discrepancies are identified, the AMC works with the appraiser to address and resolve them before delivering the final report to the lender or client.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

PennyMac

JULY 20, 2021

New agents can also often deliver high quality, personalized service as a result of having fewer clients. Find an agent who really understands the different contracts you need and how to properly fill them out, the legal obligations you’ll run into, and the financial side of the business. What percentage of your clients are buyers?

Real Estate Agent 69

Real Estate Agent Real Estate Agents Sellers 69

AmeriMac

SEPTEMBER 1, 2021

They will also deliver the report to the lender or other client as well. These legal changes lead to a sharp increase in the use of AMCs. None of the key parties can select the appraiser—including the loan officer, mortgage broker, or homeowner. Why AMCs Are Important Under Federal Law.

Appraisal 36

Appraisal Valuation Law Lending 36

Appraisal Today

MAY 10, 2024

I have never done an “official” ROV for a lender, but I did not like any lender clients objecting to my values. New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted.

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Reconsideration of Value Appraisal Real Estate Insurance 73