article thumbnail

Kentucky passes bill to end ‘harmful’ listing contracts 

Housing Wire

Kentucky is on the brink of ending exclusive real estate listing contracts. The state’s General Assembly passed a bill to protect homebuyers from predatory contracts known as non-title recorded agreements for personal services (NTRAPS) or right-to-list agreements.

Contracts 421
article thumbnail

Government mortgage loan demand drops as affordability issues loom

Housing Wire

But the decline in demand for mortgage loans was more evident in the government market, which consists of Federal Housing Administration (FHA), U.S. Meanwhile, the conventional space – not offered or secured by a government entity – registered a 2.7% Department of Agriculture (USDA) and Department of Veteran Affairs (V.A.)

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Contract is Born

The Appraiser Coach

What makes a contract a contract? Is it the legal prose, the professional typesetting, or the date across the top? I’m no lawyer, but my mentor once told me that. Read More.

Contracts 195
article thumbnail

Fraud risk continues to rise even as the market contracts

Housing Wire

Wire and title fraud remained at all time high levels in the second quarter of 2022 while the market contracted, rates increased and fraud risk continued to rise,” FundingShield CEO Ike Suri said. The post Fraud risk continues to rise even as the market contracts appeared first on HousingWire.

Contracts 369
article thumbnail

Ginnie Mae contends TCB can’t rely on alleged verbal promises in lawsuit

Housing Wire

But government attorneys representing Ginnie Mae (GNMA) say that it doesn’t matter whether or not such verbal promises were made. In addition to denying that any such promises were made, attorneys for the government argue they are immaterial, saying that “even if such promises occurred, such promises would have no legal effect.”

Legal 466
article thumbnail

Texas Capital Bank shoots back at Ginnie Mae over dismissal motion

Housing Wire

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” TCB was thus left with no alternative but to file this action,” the bank concluded.

article thumbnail

Ginnie Mae fires back over RMF lending suit, seeks case dismissal

Housing Wire

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.

Lending 432