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 358

Mortgage Legal Lending Investors 358

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 357

Mortgage Legal Lending Investors 357

Housing Wire

JANUARY 27, 2022

San Francisco-based startup Vesta, which provides a software-as-a-service platform for mortgage loan originators, announced on Thursday that it raised $30 million through a Series A funding round. trillion mortgage loan origination market, according to the Mortgage Bankers Association (MBA) forecast for 2022.

Mortgage 355

Mortgage Investors Loan Officers Technology 355

Housing Wire

SEPTEMBER 11, 2020

Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index fell 4.7% last month, the lowest since March 2014, indicating stricter requirements to get loans.

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Mortgage Government Contracts Lending 545

Housing Wire

SEPTEMBER 30, 2021

Origence has addressed these common pain points by launching the Origence Mortgage Platform, a tightly integrated point of sale and loan origination system. The Origence Mortgage Platform removes inefficiencies from the loan origination process through automation and configuration.

Mortgage 309

Mortgage Contracts Technology Modernization 309

Housing Wire

JANUARY 27, 2022

Wells Fargo agreed to pay $12 million to more than 1,800 mortgage borrowers to resolve a class action lawsuit that alleged the bank’s clients had loan modifications wrongfully denied due to calculation errors in the bank’s system. A spokesperson for Wells Fargo, the largest depository residential mortgage lender in the U.S.,

Mortgage 407

Mortgage Government Contracts Tools 407

Raleigh Realty

FEBRUARY 24, 2022

What Does 'Under Contract' Mean in Real Estate? You've decided to buy a home and whether it's your first home or your tenth you're likely to stumble across homes that are listed as 'under contract' on the real estate listing. Then, you look at the status and that other shoe finally has a chance to drop: it's "under contract."

Contracts 147

Contracts Real Estate Sellers Real Estate Agent 147

Housing Wire

FEBRUARY 16, 2023

The two firms signed an agreement to combine Wolters Kluwer’s eNote and eVault solutions with Expedite Close — Black Knight’s digital closing solution — as the final pieces to connect all the tools lenders need to perform digital closings and complete digital mortgages, Black Knight said Thursday.

Contracts 278

Contracts Technology Clients Design 278

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Lending Government Legal Law 382

Housing Wire

APRIL 18, 2024

McDermott joined G-Rate when the lender acquired Superior Mortgage in 2012, and resigned in November 2022. She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts. “We know Megan very well and treasured her 10 years with the company.

Loan Officers 405

Loan Officers Human Resources Contracts Mortgage 405

Appraisal Buzz

AUGUST 20, 2021

Oaktree Funding, a wholesale mortgage lender, is now a participating lender in Calyx Point , the loan origination system from Calyx. Oaktree Funding offers a wide range of mortgage products, including competitive non-QM and non-agency programs: for example, low-document bank statement and investor loans with limits as high as $4 million. “As

Contracts 370

Contracts Investors Appraisal Mortgage 370

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. loanDepot filed the lawsuit on Oct. 30, 2021, Richards resigned from her position at loanDepot.

Contracts 354

Contracts Legal Retail Training 354

Housing Wire

JANUARY 14, 2021

The mortgage industry has not traditionally been the vanguard of digital adoption, particularly in data intelligence and applied machine learning. The mortgage industry has been forced to respond to the massive and sudden work-from-home mandates. Consumers can succeed as self-directed digital learners.

Mortgage 481

Mortgage Technology Business Tools 481

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents. billion. “So

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Housing Market Marketing Contracts Finance 389

Housing Wire

JANUARY 3, 2024

Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. million and liquidated damages for the company’s breach of contract. Movement filed a lawsuit in a U.S.

Contracts 365

Contracts Legal Mortgage 365

Housing Wire

APRIL 26, 2022

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. It’s an open platform. We’re not huge, but we’re not small either.”.

Mortgage 442

Mortgage Technology Investing Investors 442

Movoto

APRIL 8, 2024

This is a legally binding agreement between the buyer and seller that helps ensure the sale will be completed according to the contract’s outlined conditions. Real estate purchase contracts come into play to protect both parties and move the sale forward, helping prevent either party from wasting the other’s time and money.

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Contracts Real Estate Property Taxes Legal 36

Housing Wire

AUGUST 28, 2023

Because CDFIs provide credit and financial services to underserved Black, Hispanic and low-income communities, they are exempt from certain mortgage regulations. Levine also accused The Change Company of false representations to investors about the underlying characteristics of the mortgages it securitizes.

Lending 367

Lending Design Finance Contracts 367

Housing Wire

JUNE 29, 2023

loanDepot is accusing its competitor Movement Mortgage of damaging its business by hiring over 25 employees in three months and “effectively crippling” “now-depleted” branches. It also accuses Movement of inducing these employees to breach contracts by soliciting others to leave loanDepot.

Retail 367

Retail Contracts Legal Business 367

Will Springer Realtor

MAY 2, 2023

They have safeguards built in to written agreements such as a purchase contract on a home. This person represents the best interests of the mortgage company. If the value determined by the appraiser is less than the agreed offer price, the financial institution will not approve the full amount of the mortgage.

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Contracts Buyers HOA Inspection 54

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). The volume of HELOC loans declined by 17% to $60.1 rebranded as Rithm Capital ).

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Lending Renovations Real Estate Finance 282

Housing Wire

DECEMBER 21, 2022

The court quickly imposed a temporary restraining order to the case, which prohibited the former employees from using documents and mandated the return of the filings containing customer information that loanDepot claims they improperly took to CrossCountry. billion in business.

Legal 366

Legal Loan Officers Contracts Business 366

Housing Wire

NOVEMBER 29, 2021

The Mortgage Industry Standard Maintenance Organization (MISMO) announced last week that the organization is looking for participants for an initiative focused on standardizing pre-closing title document data sets. This frequently results in delayed document review and general inefficiencies in pre-closing procedures.

Insurance 319

Insurance Real Estate Agent Brokerage Agents 319

Housing Wire

JANUARY 25, 2023

Chicago-based mortgage lender Guaranteed Rate launched a new program this week that will provide up to $8,000 in assistance to potential first-time homebuyers from underserved communities. The platform provides a secure way to upload sensitive documents and automates underwriting. Its total loan volume amounted to $116 billion in 2021.

Buyers 375

Buyers Contracts Insurance Mortgage 375

Housing Wire

NOVEMBER 16, 2021

PIMCO, founded in 1971, has a long history of aggregating residential mortgage loans as well as managing assets for corporations, sovereign wealth funds, pension funds and other investors. A small issue within the title process can have an impact on the length of the closing process, impacting mortgage lenders and borrowers.

Investors 333

Investors Marketing Contracts Investing 333

Housing Wire

NOVEMBER 3, 2023

Non-bank originator Change Lending will continue to originate non-qualified mortgages ( non-QMs ) for underserved borrowers after it reached a tentative deal with the U.S. A federal judge sided with Change in September, allowing the originator to continue its mortgage offerings for underserved borrowers until at least December.

Lending 366

Lending Finance Legal Contracts 366

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. ” “The mortgage lending industry is highly competitive.

Legal 393

Legal Lending Contracts Mortgage 393

Housing Wire

SEPTEMBER 1, 2020

Documents need to be collected, credit scores need to be checked, appraisers need to be arranged. There’s a lot of mortgages to be processed. Sales and contracts aren’t yet back up to normal levels, but the return of families – often for school – has meant more deals are being discussed, he said. The banks need bodies.

Loan Officers 384

Loan Officers Retail Lending Contracts 384

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 348

Mortgage Loan Officers Retail Training 348

Realtor

OCTOBER 16, 2023

“Doing your due diligence can help you avoid some of the most common rookie mistakes, so you come out not only with the home of your dreams, but also a mortgage you can afford.” Here are some common blunders homebuyers make when attempting to secure a mortgage.

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Housing Wire

AUGUST 31, 2022

Outsourcing or hiring in-house compliance experts are no longer the only options for servicers who need help handling lien releases and assignment of mortgage documents. Data entry is a separate function and can be completed with client staff or offshore partners.

Clients 308

Clients Inspection Technology Contracts 308

Housing Wire

MAY 4, 2021

. “And since there’s no limit to the number of documents you can execute through QuickSign, organizations can use it for sales contracts, legal or human resource documents as well.” Currently, 32 U.S. states allow full eClosings. RON bills have also been introduced in several other states, and at the federal level.

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Tools Human Resources Technology Real Estate 265

Housing Wire

NOVEMBER 7, 2023

loanDepot , the California-based lender targeting profitability next year, delivered its sixth consecutive quarterly loss in the third quarter of 2023, according to documents filed with the Securities and Exchange Commission (SEC) on Tuesday. Total revenue declined as a result of lower origination volume. Servicing fee income rose to $118.7

Legal 406

Legal Contracts Real Estate Mortgage 406

Housing Wire

MAY 19, 2022

The ability to close loans as of the contract date is important for the customer and it serves to strengthen relationships with referral partners too. Not all borrowers will be able to secure a traditional mortgage. Our proprietary Community Mortgage program is a unique opportunity for brokers to expand their product base.

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Marketing Lending Inventory Mortgage 399

Housing Wire

JULY 6, 2022

PFSI), which ranks as one of the top five mortgage lenders nationally, are seeking to raise more than $700 million in the debt markets through the sale of notes secured by mortgage servicing rights. The notes are backed by Ginnie Mae mortgage-servicing rights, according to a presale report by Kroll Bond Rating Agency (KBRA).

Investing 341

Investing Finance Mortgage Market Value 341

Housing Wire

JUNE 9, 2022

That bolt-like spike in rates put many mortgage lenders into crisis mode. Still, a good portion of the lower-rate mortgage paper has worked its way through the system and is being replaced by higher-rate mortgage loans. Interest rates jumped by more than 2 percentage points over the first quarter of 2021.

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Marketing Contracts Technology Mortgage 364

Housing Wire

SEPTEMBER 22, 2021

HousingWire recently spoke with Bill Dallas, President of Finance of America Mortgage, to discuss how brokers can leverage technology to accommodate today’s average homebuyer. As a result, today’s borrowers need mortgage products that are better aligned with their current needs while still considering their ability to repay.

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Finance Technology Lending Mortgage 370