Housing Wire

JANUARY 10, 2023

Amid a rapidly shrinking mortgage market, the company reported a loss of $133.98 It resulted from a big decline in mortgage banking, title insurance revenues and an impairment related to the Title365 segment. . workforce by 28%, including research and development, sales, marketing, general and administrative functions.

Legal 421

Legal Finance Insurance Mortgage 421

Housing Wire

DECEMBER 18, 2023

The Federal Communications Commission (FCC) last week released a new order amending its “express consent” rules for the Telephone Consumer Protection Act (TCPA), which closes the “lead generator loophole” used by mortgage professionals to connect with potential business leads. We now have a time clock of about six months.

Mortgage 430

Mortgage Business Legal Real Estate 430

Housing Wire

OCTOBER 16, 2023

Generative artificial intelligence (AI) has tremendous potential to cut costs and improve customer experience, but regulation has not caught up to develop a governance program, industry pros said of AI’s implementation in mortgage lending. Have we developed a model that is in fact fair?

Technology 453

Technology Lending Government Legal 453

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

Legal 411

Legal Mortgage Contracts Insurance 411

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. Department of Treasury that would keep the firm certified as a Community Development Financial Institution (CDFI).

Lending 406

Lending Finance Legal Contracts 406

Housing Wire

MARCH 30, 2023

New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. Severance will also be provided according to legal requirements. Per Inside Mortgage Finance data, the company was the 39th-largest U.S.

Retail 409

Retail Loan Officers Legal Technology 409

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. per share.

Contracts 419

Contracts Development Legal Law 419

Housing Wire

AUGUST 11, 2022

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. The data will stay with the loan throughout the mortgage term, regardless of whether the servicing rights change hands. Presented by: Selene Finance.

Lending 383

Lending Finance Loan Officers Legal 383

Housing Wire

JANUARY 8, 2021

For the system to work, mortgage-backed security investors need an efficient and verifiable means to know that all loans in their securities comply with this law, and originators and issuers want certainty that they are not running afoul of the Bureau. This approach has advantages: it’s simple, observable and verifiable.

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Government Mortgage Finance Legal 271

Housing Wire

SEPTEMBER 13, 2022

California-based mortgage lender loanDepot has named Joseph Grassi, an industry veteran who spent two decades at Fannie Mae , as its chief risk officer, the company announced Monday. Grassi spent 20 years at Fannie Mae, from 1994 to 2014, with his last position as a chief legal officer.

Legal 382

Legal Mortgage Finance Development 382

Housing Wire

AUGUST 8, 2022

Cenlar FSB , the nation’s second-largest mortgage servicer and largest sub-servicer, has installed new leadership following the retirement of its president, CEO and chairman Greg Tornquist. Chief Operating Officer Rob Lux was named co-CEO for operations, technology, business development, client management, human resources, and legal.

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Human Resources Legal Finance Insurance 367

Housing Wire

APRIL 22, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. ” In 2021, Blend processed more than 1.8

Mortgage 397

Mortgage Marketing Human Resources Clients 397

Appraisal Buzz

MAY 6, 2024

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. I recently attended the Going to Extremes conference in DC on April 18-19, which focused on how climate change is affecting the US housing and finance industries.

HOA 370

HOA Insurance Legal Fees Valuation 370

Housing Wire

FEBRUARY 1, 2021

The Federal Housing Finance Agency appointed Clinton Jones as its new general counsel, saying this was the next step in turning the FHFA into a “world-class regulator.” When Calabria first took over as head of the agency, he focused on mortgage giants Fannie Mae and Freddie Mac and their future in conservatorship.

Legal 458

Legal Law Brokerage Finance 458

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. These individuals also received inbound calls from individuals interested in obtaining mortgage loans, the order stated.

Loan Officers 399

Loan Officers Mortgage Finance Lending 399

Housing Wire

JUNE 1, 2021

Housing and Urban Development Secretary Marcia Fudge joined Biden to mark the 100th year since a white mob killed hundreds of Black residents of the Greenwood District. HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. How hybrid title and valuations help increase lending efficiency.

Renovations 508

Renovations Development Investors Legal 508

Housing Wire

APRIL 1, 2024

Former NEXA Mortgage president Mat Grella has accused his partner at the firm, Mike Kortas, of making aircraft-related purchases with company money without his consent, resulting in his “abrupt” termination from the company. I had some concerns about where our focus was because it had shifted away from mortgages and more on aviation.

Brokerage 407

Brokerage Business Loan Officers Legal 407

Housing Wire

SEPTEMBER 16, 2021

Kully previously worked at the Department of Housing and Urban Development as a senior attorney, in the legal division at Fannie Mae and as a partner at K&L Gates. housing finance industry and deserves a strong leader. Kris Kully: I have been following the trending innovations in the mortgage origination process.

Finance 374

Finance Legal Development Training 374

Housing Wire

JANUARY 27, 2023

Rent hike protections Nearly one-third of all rental units nationwide are financed with federally backed mortgages — and the blueprint may help curb some of the steep rent price increases for these properties. Fannie Mae provided more than $69 billion in debt financing to support the multifamily market last year.

Tenants 409

Tenants Landlords Finance Government 409

Housing Wire

JUNE 8, 2022

The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. A September 2021 request for input ahead of the equitable housing finance plans indicated the FHFA would implement the plans by January 1, 2022.

Development 364

Development Finance Government Lending 364

Housing Wire

NOVEMBER 23, 2021

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. Homeowners will secure mortgages to finance their homes which can then be used as comparable sales for financing of nearby homes.

Investing 449

Investing Renovations Development Construction 449

Housing Wire

AUGUST 22, 2023

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). the trade groups state. When announcing the proposed rule, Vice President Kamala Harris weighed in.

Valuation 370

Valuation Appraisal Government Real Estate 370

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. According to Kris Kully, an attorney at Mayer Brown , the notice will affect mortgage lenders because many of the underwriting systems lenders use to measure default risk contain proprietary algorithms, or “black-box models.”

Law 421

Law Legal Valuation Government 421

Housing Wire

DECEMBER 11, 2020

Johnson joins the executive team from global finance company MSCI , where he served as managing director and president of InvestorForce. In his new role, Johnson oversees the company’s operations and is tasked with the development of Offerpad’s product team. Have a hiring announcement you want to share?

Lending 383

Lending Legal Clients Development 383

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 472

Loan Officers Retail Contracts Mortgage 472

Housing Wire

NOVEMBER 16, 2023

Department of the Treasury have agreed to settle a lawsuit in which the lender claims “flawed analysis and mathematical errors” led to its decertification as a Community Development Financial Institution (CDFI). But at least 60% of a lender’s financing must target these borrowers.

Lending 401

Lending Finance Contracts Development 401

Housing Wire

JULY 28, 2022

The new rule guidance is designed to expand the supply of affordable housing by making it easier to develop, repair or operate affordable housing. billion for affordable-housing development and preservation. In 1960, a 27-point gap existed between black and white homeownership.

Government 382

Government Development Finance Legal 382

Housing Wire

NOVEMBER 7, 2022

Executives at the mortgage lender announced their decision in a letter sent on Wednesday to business partners and employees, which was reviewed by HousingWire. According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. and Sprout Mortgage.

Lending 432

Lending Investors Business Mortgage 432

Housing Wire

OCTOBER 13, 2022

Now, thanks to United Wholesale Mortgage (UWM) CEO Mat Ishbia’s recent announcement that his company is hiring attorneys to review title and closing documents, AOLs and the risks associated with them, have been a hot topic at this year’s ALTA One conference. This is a top priority for ALTA.”.

Insurance 368

Insurance Legal Legal Fees HOA 368

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 397

Buyers Agents Loan Officers Real Estate 397

Housing Wire

DECEMBER 7, 2021

The Department of Housing and Urban Development (HUD) on Tuesday resolved uncertainty around special purpose credit programs, 45 years after Congress allowed lenders to tailor products to groups that have historically been excluded from homeownership. In a legal memo, HUD stated that SPCPs are allowed under the Fair Housing Act.

Lending 441

Lending Law Design Government 441

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 381

Modernization Legal Contracts Mortgage 381

Housing Wire

JANUARY 6, 2022

But according to the Federal Housing Finance Agency , which has oversight power over Fannie and Freddie, the GSE’s must go back to the drawing board when it comes to their 2022-2024 Duty to Serve plan. Further, the advocates called a legal interpretation preventing GSEs from making targeted Duty to Serve equity investments “dubious.”.

Legal 522

Legal Law Government Lending 522

Housing Wire

NOVEMBER 9, 2020

One area in the mortgage and real estate industry that has been evolving for nearly two decades is digital closings. E-mortgage volume spikes. During the first six months of 2020, the Federal Housing Finance Agency reported that the volume of e-mortgages purchased by Fannie Mae and Freddie Mac spiked significantly.

Law 441

Law Legal Technology Real Estate 441

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 394

Buyers Sellers Finance Contracts 394

Housing Wire

AUGUST 23, 2023

“There is no doubt that the combined technology services business of ICE and Black Knight’s, even with planned divestitures, will affect the pricing of mortgage loans and mortgage servicing rights in profound ways.” ICE) and Black Knight to merge.

Technology 275

Technology Business Finance Mortgage 275

Housing Wire

OCTOBER 27, 2023

In response to the marketplace and at the urging of consumer advocates, NAR began to develop guidance for local MLS broker marketplaces as part of what always has been a very involved and public rule-making process aimed at creating the most consumer-friendly market possible. They coordinate with lenders and research mortgage rates and terms.

Real Estate Agent 466

Real Estate Agent Real Estate Realtors Buyers 466