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PennyMac pays $158M to Black Knight in servicing platform dispute

Housing Wire

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 341
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Former Homesnap employees stole trade secrets over online marketplace tech, CoStar alleges

Housing Wire

The technology at the center of CoStar’s offering is “CoStar Sync,” which “allows data from locally stored databases to be rapidly and efficiently accessed through CoStar’s multiple product platforms,” the complaint reads. The filing of the suit was first reported by Inman News. District Court for the District of Columbia.

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People Movers: FundingShield, North American Title Company, Valligent Technologies, Garris Horn and Azimuth GRC

Housing Wire

Patricia Suazo has joined FundingShield as its vice president of technology operations and integrations. Valuation technology company Valligent Technologies has named Walter Allen as its executive vice president of digital transformation. Before that Yankowski was president and CEO of Executive Title Insurance Services.

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Regulation hasn’t caught up to generative AI

Housing Wire

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?

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Black Knight awarded $155M in trade secrets theft lawsuit against Pennymac

Housing Wire

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. In March 2020, the companies entered arbitration. per share.

Contracts 380
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Crisis management in real estate: 8 tips for handling difficult situations

Housing Wire

As with establishing effective communication expectations early on, developing a crisis management plan before you need it will allow you to effectively deal with unexpected problems. Legal disputes. Embrace technology If you still rely on paper and pen, it’s time to enter the 21st century. Natural disasters.

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Homebridge to lay off employees following deal with CMG

Housing Wire

A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor and Workforce Development shows the job cuts will affect mortgage loan officers, final “docs” associates, desktop support professionals and business solutions architects, among others. “As mortgage lender by volume last year.

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