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 391

Mortgage Business Legal Real Estate 391

Housing Wire

APRIL 4, 2024

An action taken that is determined to be “arbitrary and capricious” would translate into “willful and unreasonable action without consideration or regard for the facts and circumstances,” according to Cornell Law School ’s Legal Information Institute. Presiding Judge Matthew Kacsmaryk ruled in the U.S. The judge largely disagreed.

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Legal Government Law Development 330

Housing Wire

MARCH 18, 2024

million to Black Knight Servicing Technologies , concluding a five-year legal battle over allegations of trade secret theft involving two of the biggest companies in the housing industry. When announcing earnings in early February, company executives commented on the legal battle. PennyMac Financial Services has paid $158.4

Legal 337

Legal Contracts Technology Development 337

Housing Wire

JANUARY 20, 2021

Department of Housing and Urban Development declared Wednesday that the Federal Housing Administration will once again back mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. HUD said DACA recipients who are legally permitted to work in the U.S. are not eligible for FHA-insured mortgages.”

Mortgage 546

Mortgage Law Insurance Legal 546

Housing Wire

JULY 5, 2023

District Court for the Western District of Texas by a group of current and former staffers from the company’s bilingual mortgage sales team alleging race-based discrimination. Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads.

Mortgage 351

Mortgage Lending Legal Business 351

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

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Tools Mortgage Finance Lending 358

Housing Wire

MARCH 7, 2024

Department of Housing and Urban Development (HUD). This includes a strain on resources brought about by the assumption of a sizable portfolio of reverse mortgage-backed securities following the bankruptcy of a major lender in the space in 2022. It allocates $450 billion in funding for several departments, including the U.S.

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Government Transportation Development Modernization 333

Housing Wire

MARCH 14, 2024

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). Change is a community development financial institution (CDFI) that is certified by the U.S. Last year, Change Lending ranked as the top nonqualified mortgage (non-QM) originator, posting $4.1

Lending 348

Lending Renovations Legal Real Estate 348

Housing Wire

MARCH 4, 2024

Three Bayview Asset Management -owned mortgage servicers are seeking to halt a plaintiff’s filing in a data breach lawsuit, citing an overabundance of confidential information shared about the incident, National Mortgage News first reported. and Fairway Independent Mortgage Corp. The objection, filed on Feb.

Mortgage 348

Mortgage Clients Development Legal 348

Housing Wire

SEPTEMBER 11, 2023

The Mortgage Bankers Association (MBA) presented its annual Ken Markison Legacy Achievement award to Michael Eising, a vice president and mortgage compliance manager at Merchants Bank of Indiana. He authored Nationwide Mortgage Licensing System (NMLS) licensing courses for more than a decade.

Retail 361

Retail Legal Design Mortgage 361

Housing Wire

MAY 10, 2024

The Consumer Financial Protection Bureau (CFPB) and Freedom Mortgage were handed minor setbacks by the presiding and magistrate judges, respectively, in a case that the regulator brought in widespread violations in its 2020 submission of Home Mortgage Disclosure Act (HMDA) data. The original case was filed in the U.S.

Mortgage 318

Mortgage Law Clients Development 318

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 377

Contracts Development Legal Law 377

Housing Wire

APRIL 21, 2022

The programs will be announced in the third quarter of this year, Perry said during a fair housing webinar hosted by the National Housing Conference , a mortgage trade association. Notwithstanding all of the guidance, we still hear concerns of legality from lenders,” Perry said. “So

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Lending Legal Law Development 404

Housing Wire

FEBRUARY 26, 2024

Top 10 mortgage lender and servicer Newrez sued one of its former executives over multiple allegations, including breach of contract, disclosure of confidential information and unfair competition tied to soliciting several Newrez executives to join a competing lender. 21 in the U.S. the Nationwide Multistate Licensing System (NMLS) showed.

Retail 383

Retail Legal Lending Business 383

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 385

Technology Lending Government Legal 385

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.

Lending 374

Lending Government Legal Law 374

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 394

Legal Finance Insurance Mortgage 394

Housing Wire

APRIL 19, 2024

Department of Housing and Urban Development (HUD) and Ginnie Mae largely deny any allegations made against the company in the original complaint. Attorneys for the U.S. The judge largely disagreed.

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Government Legal Law Development 366

Housing Wire

OCTOBER 27, 2023

The Real Estate Settlement Procedures Act (RESPA) ensures that homebuyers always have the legal right to consider alternative title insurance providers and can never be forced into using a particular provider. According to Fannie Mae, one third of American homebuyers only get one quote on their mortgage before choosing a lender.

Insurance 491

Insurance Real Estate Buyers Real Estate Agent 491

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 349

Legal Mortgage Contracts Insurance 349

Housing Wire

FEBRUARY 14, 2022

Heidi brings deep expertise in areas across the legal spectrum, including in mortgage lending, servicing, credit access and regulatory matters, among others,” said Michael DeVito, CEO of Freddie Mac. “I Weiss was the fifth-highest earning named executive officer at Freddie Mac in 2021, with a total compensation of $2.3

Legal 338

Legal Law Lending Development 338

Housing Wire

MARCH 7, 2024

The mortgage relief credit would provide “middle-class first-time homebuyers with an annual tax credit of $5,000 a year for two years,” according to the announcement. This would act as an equivalent to reducing the mortgage rate by more than 1.5% The NHC lauded the development.

Construction 530

Construction Renovations Insurance Landlords 530

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. CMG was the 27th-largest.)

Retail 376

Retail Loan Officers Legal Technology 376

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. Now, that simply isn’t the case, Giordano says.

Mortgage 376

Mortgage Loan Officers Advertising Clients 376

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 368

Mortgage Marketing Human Resources Clients 368

Housing Wire

DECEMBER 21, 2020

Ten days ahead of the latest expiration date, the Department of Housing and Urban Development announced that the Federal Housing Administration is providing a two-month extension of its foreclosure and eviction moratorium, and initial forbearance requests through Feb. Low mortgage rates fuel the demand for valuation and settlement services.

Insurance 545

Insurance Legal Finance Inspection 545

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 237

Housing Wire

MARCH 24, 2023

By its own description, ChatGPT is “an AI-powered chatbot developed by OpenAI, based on the GPT (Generative Pretrained Transformer) language model. ChatGPT for lenders Several use cases exist for mortgage companies and loan officers to use ChatGPT and AI. AI can be used to provide a more personalized experience for mortgage customers.

Loan Officers 468

Loan Officers Legal Development Marketing 468

Housing Wire

JANUARY 23, 2024

Department of Housing and Urban Development (HUD) may not be in office should the suit progress to trial sometime next year. Plaintiff [TCB] also had an interest in those mortgages — prior to extinguishment — because RMF had pledged its limited interest in those mortgages to TCB as collateral for a loan.”

Government 353

Government Development Mortgage Legal 353

Housing Wire

FEBRUARY 14, 2024

I am a big believer in developing a brand for your real estate business from Day One. While you can develop name recognition over time, I believe that naming your team or brokerage something other than the leader’s name allows more opportunity for scale and differentiation. A great brand is a valuable tool, and it’s worth protecting.

Real Estate Agent 419

Real Estate Agent Real Estate Agents Brokerage 419

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 341

Brokerage Business Loan Officers Legal 341

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 359

Lending Finance Legal Contracts 359

Housing Wire

SEPTEMBER 29, 2023

Department of Housing and Urban Development (HUD) on Thursday joined seven other federal agencies to clarify in writing that Title VI of the Civil Rights Act of 1964 prohibits forms of discrimination, including antisemitism, Islamophobia and other related forms.

Transportation 389

Transportation Legal Government Development 389

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. Department of Housing and Urban Development (HUD), according to lawyers.

Construction 393

Construction Real Estate Agent Loan Officers Legal 393

Housing Wire

AUGUST 25, 2021

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. But the mortgage industry and HUD don’t see eye-to-eye on how that decision should be taken into account.

Legal 357

Legal Insurance Development Mortgage 357

Housing Wire

SEPTEMBER 9, 2021

Notarize , a provider of remote online notarization (RON) services in 38 states, and Snapdocs , a California-based digital mortgage closing platform, are partnering, the companies announced Thursday. 5000 list, connects all parties and technologies involved in a mortgage transaction to complete the closing process online.

Legal 315

Legal Technology Real Estate Law 315

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.

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Legal Mortgage Finance Development 318