Housing Wire

DECEMBER 5, 2023

An arbitrator conclusion issued last week caps a four-year legal battle over allegations of trade secret theft involving two of the biggest companies in the housing industry, Black Knight Servicing Technologies and PennyMac Financial Services. 28, an arbitrator awarded Black Knight $155.2 In March 2020, the companies entered arbitration.

Contracts 412

Contracts Development Legal Law 412

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.

Contracts 36

Contracts Real Estate Property Taxes Legal 36

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 438

Loan Officers Human Resources Contracts Mortgage 438

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

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. billion in the first six months of 2023, according to data from Inside Mortgage Finance.

Loan Officers 403

Loan Officers Legal Real Estate Lending 403

Housing Wire

APRIL 24, 2024

Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6 In response to an analyst’s question during the earnings call, Spector said he expects the company’s servicing channel to lead to more refinance opportunities when mortgage rates eventually decline. Pennymac’s servicing portfolio continues to grow.

Lending 412

Lending Legal Contracts Mortgage 412

Housing Wire

AUGUST 30, 2023

Digital mortgage lender Better Home & Finance faces a $1.86 Better failed to pay for two “insertion orders” – agreements where Meredith would place ads on its digital platforms in exchange for the mortgage lender’s fee – from the summer to the winter of 2022, according to a filing in the U.S. Among the $2.1

Advertising 392

Advertising Finance Contracts Mortgage 392

Housing Wire

MAY 1, 2024

During the first quarter of 2024, Zillow recorded revenue growth across all sectors of its business, including a 31% annual jump in its rentals revenue to $97 million and a 19% year-over-year increase in its mortgage revenue to $31 million.

Agents 406

Agents Real Estate Contracts Real Estate Agent 406

Housing Wire

JULY 19, 2022

The lawsuit, filed in federal court in New York last week, alleges that since February 2022 “CrossCountry improperly poached no fewer than 32 loanDepot employees from loanDepot branches in Manhattan, Brooklyn and Fishkill, New York by interfering with loanDepot’s contractual and other legal rights.” billion in business.

Loan Officers 382

Loan Officers Contracts Legal Business 382

Housing Wire

FEBRUARY 25, 2022

United Wholesale Mortgage (UWM) just sued two more broker shops that allegedly violated its controversial “ultimatum” by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. However, the lender said it was necessary to protect the long-term viability of the wholesale mortgage channel.

Contracts 370

Contracts Brokerage Investing Mortgage 370

Housing Wire

FEBRUARY 5, 2024

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. billion in mortgage loans. 2 in a U.S.

Retail 410

Retail Contracts Loan Officers Mortgage 410

Housing Wire

APRIL 22, 2024

Photo Credit: AJ Canaria) Between inflation , an uncertain interest rate environment and legal challenges , the real estate industry is facing unprecedented challenges. People think that M&A is about finance, deal structure and 20% of it is that, but 80% of it is relationships, and commonality of purpose and interests,” Murray said.

Brokerage 413

Brokerage Real Estate Agents Sellers 413

Housing Wire

JANUARY 30, 2023

A group of 11 former employees are accusing AmeriSave Mortgage Corp. It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division. According to a spokesperson, “As a policy, AmeriSave Mortgage does not comment publicly on pending litigation.” mortgage lenders.

Loan Officers 463

Loan Officers Retail Contracts Mortgage 463

Housing Wire

FEBRUARY 7, 2023

.” Still, he firmly believes it is important to seek out fresh perspectives amid the recent rise in mortgage rates. Like its peers, loanDepot is struggling amid a contracting mortgage market. Per Inside Mortgage Finance data, conditions have since worsened – the lender originated just $6.37

Real Estate 365

Real Estate Legal Contracts Mortgage 365

Housing Wire

NOVEMBER 16, 2023

The CDFI certification is given by the Treasury Department CDFI Fund to lenders providing financial services to low-income communities and people who lack financing. But at least 60% of a lender’s financing must target these borrowers. Change sued the CDFI Fund in late August, complaining about the Fund’s analysis.

Lending 394

Lending Finance Contracts Development 394

Housing Wire

NOVEMBER 13, 2023

” Mr. Cooper is accused of negligence, breach of implied contract and unjust enrichment, among other claims. At this time, however, it’s not possible to quantify the full extent of remediation and legal expenses due to the cyberattack. On Thursday, Mr. Cooper announced it had partially resumed its operations.

Legal 544

Legal Law Contracts Technology 544

Housing Wire

NOVEMBER 7, 2023

million since the second quarter due to lower salaries and benefits resulting from reduced headcount and legal expenses. In the quarter, the company also accrued $2 million of legal expenses related to the expected settlement of outstanding litigation. Quarterly non-volume expenses decreased $18.7 billion in the second quarter of 2023.

Legal 414

Legal Contracts Real Estate Mortgage 414

Housing Wire

MAY 11, 2022

Texas-based multichannel lender Caliber Home Loans is accusing Ohio-based CrossCountry Mortgage of executing an “illegal scheme of unfair competition” by targeting its employees, stealing trade secrets and diverting customers. National Mortgage News first reported the case.

Technology 382

Technology Investing Legal Mortgage 382

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. One top-producing California -based loan officer said she was excited when a top 35 mortgage lender tried to recruit her with the promise of multiple pricing buckets.

Loan Officers 450

Loan Officers Clients Law Legal 450

Lamacchia Realty

MAY 6, 2024

This agreement is a binding contract that outlines the rights and obligations of the buyer and seller during the whole buying process. Their job is to pay close attention to every detail to make sure the agreement i ncludes all the legal requirements. They can also assist with reviewing mortgage documents and loan negotiations.

Real Estate 70

Real Estate Legal Law Contracts 70

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Buyers 389

Buyers Sellers Finance Contracts 389

Housing Wire

MAY 27, 2022

This week’s HW+ member spotlight features Jeremy Potter, chief evangelist at Stavvy , a 2022 Tech100 Mortgage winner. Potter was recently promoted after serving as head of legal and capital markets and is a thought leader in the industry, regularly sharing his insights on how the industry can move forward through the power of innovation.

Modernization 379

Modernization Legal Contracts Mortgage 379

Housing Wire

SEPTEMBER 7, 2023

“The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said. There will likely be fewer Realtors, the sales volume will be handled by fewer Realtors.

Buyers 393

Buyers Agents Loan Officers Real Estate 393

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year. billion over the same period in 2021.

Marketing 399

Marketing Mortgage Investors Legal 399

Housing Wire

DECEMBER 19, 2023

Big Four title firm Fidelity National Financial and its subsidiary mortgage subservicer Loancare are facing a class action lawsuit alleging that they were negligent with customer data and that they breached their contract, after the firm was the victim of a cyber security attack in late-November.

Clients 414

Clients Contracts Mortgage Legal 414

Housing Wire

DECEMBER 9, 2020

The Supreme Court heard arguments Wednesday over whether it should find the structure of the Federal Housing Finance Agency unconstitutional and void an agreement it struck with the Treasury Department over revenue from the companies it oversees, Fannie Mae and Freddie Mac. The plaintiffs in the case, Collins v. home loans.

Government 402

Government Legal Investing Law 402

Eppraisal

OCTOBER 23, 2023

Your bid may need to be higher, your contract contingencies may be undesirable or other buyers may have more attractive financing requirements. You can say no to the counteroffer, accept it or propose new changes to the contract. Arriving at a verbal agreement differs from being in a contract.

Real Estate Agent 69

Real Estate Agent Sellers Inspection Real Estate 69

Raleigh Realty

MARCH 31, 2021

In every market though, things happen where homes that are under the contract may not reach the closing table and the contingency clause usually protects the buyer and sometimes the seller in the event the parties decide to terminate. Contingencies are conditions that either the buyer or seller (or both) must meet for the sale to go through.

Real Estate 148

Real Estate Sellers Contracts Buyers 148

Eppraisal

MARCH 12, 2024

Mazur covers every aspect of the home buying process, from understanding mortgage options to negotiating favorable terms. and Marcia Stewart "Nolo's Essential Guide to Buying Your First Home" is a trusted resource for first-time homebuyers seeking reliable advice from legal experts. . "Nolo's

Real Estate 36

Real Estate Legal Buyers Finance 36

Movoto

FEBRUARY 23, 2024

Unlike a standard renting agreement, rent to own provides a means to own property for those unable to secure financing , so long as certain conditions are satisfied. However, if the lessee fails to purchase the home or secure financing, payments toward the property are lost, along with the option fee, in most cases.

Contracts 36

Contracts Finance Real Estate Legal 36

Housing Wire

JULY 12, 2022

Beginning July 17, Freddie Mac will accept some mortgages with hybrid appraisals — but the list of caveats is lengthy. Mortgages for manufactured homes, investment properties, duplexes and fourplexes are not eligible. A certification lightens the legal liability of bias. The seller accepts it; they go into contract.

Appraisal 404

Appraisal Inspection Real Estate Agent Training 404

Housing Wire

OCTOBER 4, 2023

Garg and Calamari’s motion to dismiss Pierce’s claim for breach of fiduciary duty, intentional infliction of emotional distress and tortious interference with contract were also granted.

Law 407

Law Contracts Business Legal 407

Movoto

APRIL 30, 2024

Near the end of the initial lease or rental agreement, you’ll likely need to obtain a mortgage loan to finance the purchase. Credit scores need to meet a minimum threshold for most lending scenarios, and better scores translate to more favorable mortgage terms. What Are The Cons Of Renting A Condo? Lease Option Agreement.

Tenants 36

Tenants Real Estate Contracts HOA 36

Eppraisal

OCTOBER 19, 2021

It's their job to protect the mortgage companies' investments. There are many instances nowadays where a house doesn't appraise for the price on the contract. How It Affects Lenders If you are not paying cash for a home in today's market, you are most likely obtaining a mortgage loan. They work for the mortgage lenders.

Appraisal 66

Appraisal Contracts Sellers Home Value 66

D Fritz Appraisals

FEBRUARY 22, 2023

Taking equity out of your home to buy another house can be a financially advantageous option, as it allows homeowners to tap into the built-up value of their primary residence without worrying about saving up for a second mortgage. Homeowners can access this equity through refinancing, taking out a second mortgage or HELOC.

Real Estate 124

Real Estate Investing Appraisal Market Value 124

Assurance Financial

DECEMBER 20, 2021

There are many factors to consider when selling a home, and you may be wondering what happens to your mortgage when you move. After all, the 2018 American Community Survey found that the median length of time homeowners stayed in their homes was 13 years, a shorter length of time than most mortgage terms.

Mortgage 74

Mortgage Sellers Buyers Finance 74

Eppraisal

JULY 21, 2023

However, with the constantly shifting dynamics of the housing market and the advent of alternative financing options, it begs the question: Is rent-to-own still a thing in real estate? Rent-to-own contracts involve intricate legal and financial considerations, which can vary significantly from one region to another.

Real Estate 36

Real Estate Sellers Investors Finance 36