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Sprout Mortgage taps Wells Fargo veteran to lead retail

Housing Wire

Sprout said it intends to grow its retail channel through increased direct sales to consumers and residential investors, dedicated retail facilities, and joint ventures. In the last six months, Sprout has unveiled a series of new products for it non-QM program , resumed correspondent lending.

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CFPB wants lenders to disclose reason for denial of credit

Housing Wire

The requirement also applies to mortgage lenders, legal experts say. The designers historically have been unwilling to tell lenders all the factors used and how they are weighted,” Kully said. In his own statement Thursday, Chopra said companies have “legal responsibilities when they let a black-box model make lending decisions.”.

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Stavvy lands $40 million Series A for aggressive growth

Housing Wire

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators. Presented by: Sagent Lending Technologies.

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Valuing Complex and Unusual Properties: Guidance for Investors and Lenders

Boston Appraisal

As an investor or lender, you need accurate valuations of residential properties to make informed investment and lending decisions. Focus instead on features that affect utility, desirability and marketability – such as functional obsolescence, legal restrictions, environmental issues or external neighborhood factors.

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Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit

Housing Wire

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Through Guild Holdings, the lender’s management and the private equity investors planned to issue 8.5

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Mortgage industry provides commentary on CFPB’s proposed changes to QM loan definition

Housing Wire

This outcome would substantially impair the benefits of QM status to lenders and investors, introducing significant legal uncertainty into a regime meant to provide clear eligibility parameters. ” The MBA also called for the Bureau to remove or amend the special rule for ARMs.

Mortgage 358
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Make Your First Investment Property an Attractive and Profitable Option

Cleveland Appraisal Blog

Today, Cleveland Appraisal Blog shares a few tips for first-time investors. Keep in mind that investment homebuyers will be required to put down a minimum of 15% to secure financing, according to Lending Tree. This should include repairing any structural damage or major systems before you think about design. Questions?

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