Housing Wire

MAY 29, 2024

Other lenders said if it’s on the bank statement, then we need to verify and document it, see how many months are left and what the monthly payment is.” But there are some headaches in collecting the documentation.” With differing guidance from lenders, Racamato decided to take a more dramatic approach. are examples.

Mortgage 393

Mortgage Clients Sellers Loan Officers 393

Housing Wire

JANUARY 8, 2021

It seems simple enough on its face: when a lender makes a home loan, the lender must determine, document, and verify that the prospective borrower has the ability to repay their full loan. The rule still calls for the lender to “document and verify” the borrower’s ability to repay with standards that need development.

Government 251

Government Mortgage Finance Legal 251

Housing Wire

JANUARY 6, 2022

The digital notarization process will be led by the Covius notary panel and will use Stavvy’s technology to notarize the documents in the borrowers’ home or office. In anticipation of even greater adoption by investors, Covius has proactively aligned with Stavvy, to be ready to offer these options to our large servicer clients.”.

Technology 420

Technology Legal Tools Real Estate 420

Housing Wire

NOVEMBER 7, 2022

According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. But in the current mortgage landscape, with crazy rate spreads and shy investors, non-QM can be a dangerous space. Since 2008, it has funded over 14,000 loans, reaching $5.5

Lending 424

Lending Investors Business Mortgage 424

Housing Wire

OCTOBER 18, 2022

On August 5, about one month after Sprout shutting down, the parties executed a new agreement saying FirstFunding “is permitted to immediately exercise all of its rights,” including FirstFunding receiving mortgage loan proceeds directly from Sprout or any borrower, according to documents attached to the lawsuit.

Contracts 380

Contracts Law Legal Mortgage 380

Housing Wire

MARCH 22, 2021

As long as they can meet the licensing and financial requirements of the non-delegated correspondent investor, that broker can be the lender – giving them the ability to control their own destiny at the loan level, lose the requirement to disclose premium price rebates, expand their product lineup and be a more powerful recruiting machine.

Business 462

Business Lending Investors Sellers 462

Housing Wire

SEPTEMBER 15, 2020

Digital notary platform Notarize also closed on a $35 million Series C round of funding in March, raising a total of $82 million with investments from real-estate focused venture capital firm Camber Creek , Boston-based Polaris Partners , and other existing strategic investors. All application accesses are also tracked using an audit trail.

Business 476

Business Law Real Estate Investors 476

Housing Wire

JULY 22, 2022

Omar Ennabe: I would like to see the document packages for reverse mortgages become much simpler. The current application packages and final doc sets have become very long and full of legal jargon that most laymens don’t understand. HousingWire: If you could change one piece of housing regulation, what would it be and why?

Technology 363

Technology Investors Housing Market Legal 363

Housing Wire

JULY 14, 2021

The class action-seeking lawsuit, which was filed in the Eastern District Of Michigan’s Southern Division, alleges that Rocket was aware of factors that were already taking a toll on its business, while touting its future performance to investors.

Law 450

Law Investors Mortgage Legal 450

Housing Wire

OCTOBER 2, 2020

I am concerned, however, by some of the language in this document mischaracterizing nonbanks. Nonbanks are intermediaries that originate loans to the terms of the ultimate investor. These investors included the GSEs, the Ginnie Mae programs, larger bank portfolios, and Wall Street firms. Nonbanks do not set the rules of lending.

Government 521

Government Investors Lending Mortgage 521

Housing Wire

FEBRUARY 2, 2024

During their departure, DKMC sales staff who are not joining NAF were informed by leadership that they will have to wait a few months before receiving all of their compensation tied to any loans closed before the M&A deal, per documents reviewed by HousingWire. Some former LOs said they are expected to be paid in June or July.

Loan Officers 397

Loan Officers Human Resources Law Mortgage 397

Housing Wire

AUGUST 10, 2023

The class action was filed on behalf of investors who purchased loanDepot’s class A common stock in connection with the company’s initial public offering on February 16, 2021. It also includes investors who acquired company stock between March 16, 2021 and September 22, 2021. loanDepot stock was trading at $2.14

Investors 364

Investors Investing Marketing Legal 364

Housing Wire

JULY 28, 2023

According to the document, Sprout has “nearly fully complied with the terms of the class settlement agreement, but for the last $300,000 payment.” They claim that the escrowed funds are not the property of Sprout’s estate for bankruptcy. Ex-employees alleged the company did not pay their last paychecks and severance package.

Mortgage 328

Mortgage Insurance Business Lending 328

Housing Wire

JANUARY 25, 2024

Once an unlicensed LO deemed a potential borrower qualified for one of LoanSnap’s loan products based on the information gathered – via text, electronic mail, telephone call and additional verification documentation he or she required the potential borrower to submit – the unlicensed MLO then sent the file to a licensed LO.

Loan Officers 372

Loan Officers Mortgage Finance Lending 372

Housing Wire

NOVEMBER 23, 2022

While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse and investor covenants, which are causing lenders to move expeditiously to cut costs,” Jim Cameron, Stratmor Group ’s senior partner, wrote in a report published this week. “In

Marketing 368

Marketing Loan Officers Business Mortgage 368

Listing Spark

SEPTEMBER 1, 2023

Real estate investors operate differently than conventional buyers and sellers, especially to get the 26.9% Instead, investor-friendly brokerages are a better fit for your goals. Learn more about why choosing the right investor-friendly brokerage is so important and what to look for when you start your search.

Investors 36

Investors Brokerage Real Estate Agent Real Estate 36

Housing Wire

MARCH 17, 2023

The violations of law were directly related to mortgage loans originated by the company, which were “rife with fraud” and used to “pad its bottom line” in a manner that deceived and defrauded investors, according to Assistant Attorney General Kenneth A. Polite, Jr.

Loan Officers 362

Loan Officers Law Investors Mortgage 362

Housing Wire

JUNE 6, 2023

The document states that Sprout will pay $3.5 Defunct Long Island-based Sprout, led by industry veteran Strauss, informed hundreds of workers it was closing its doors on July 6 after a sharp rise in mortgage rates saddled the company with loans it was unable to sell to investors in the secondary market at par.

Clients 327

Clients Mortgage Insurance Investors 327

Housing Wire

MAY 28, 2021

Additionally, the proposed amendments would allow mortgage servicers to offer certain loan modifications more efficiently by requiring fewer borrower documents. If that is the determination, we may go ahead and move forward in the foreclosure if all efforts have been exhausted and in accordance with applicable legal and investor requirements.”

Tools 424

Tools Clients Legal Design 424

Housing Wire

NOVEMBER 13, 2020

For too long, we’ve made prospective borrowers submit forms and documents for review in an antiquated process that’s subject to fraud, bias and human error and frustrating for everyone involved. Direct-source data holds the key to limiting lenders’ and investors’ risk exposure. If consumers aren’t holding us back, then who or what is?

Modernization 483

Modernization Technology Mortgage Investors 483

The Robert Weiler Company

OCTOBER 15, 2021

Also, find out what benefits the new tax bill brought to the commercial real estate industry, particularly for Ohio investors; these benefits might motivate you to make that buy decision quicker than you thought! For CRE investors, the cap rate is a way to determine the property’s ROI potential. A recent change by the U.S.

Investing 138

Investing Real Estate Tenants Investors 138

Housing Wire

APRIL 9, 2024

HOA requirements and documentation: a case in point. As a case in point, let’s look at the settlement requirement to navigate homeowners associations (HOA) and their vast and disparate array of documents and requirements. The result is thousands of HOAs with thousands of varying requirements and mounds of varying documentation.

HOA 390

HOA Real Estate Technology Investors 390

McKissock

MAY 15, 2023

You’ll need to know whom you’ll mainly be working for (banks, individual homeowners, investors). An online legal team such as Rocket Lawyer can provide templates for various legal documents, as well as personalized legal advice, for a monthly fee—usually less than $100. Business insurance is a must.

Business 71

Business Appraisal Advertising Real Estate 71

Eppraisal

JANUARY 29, 2023

In the first installment of this series, we looked at the advantages of raw land as an investment as well as the ways an investor might go about locating such parcels. In this posting, we will follow the acts of contract negotiation and legal settlement when undeveloped land changes ownership.

Development 36

Development Counter Offer Easement Legal 36

Eppraisal

DECEMBER 28, 2021

This documentation includes a residential appraisal; proof of employment; pay stubs or income confirmation; bank and investment statements; insurance declarations; copies of photo IDs; and condominium information (if applicable). Assembling and confirming the validity of these documents is the job of a loan processor.

Mortgage 68

Mortgage Home Value Insurance Loan Officers 68

Movoto

APRIL 24, 2024

If you’re considering relocating for a more ambitious endeavor, check out the best rental markets for investors. Further, using Google Drive will allow you to easily and securely coalesce documentation in an accessible location. It protects both you and your tenant by outlining responsibilities, expectations, and legal obligations.

Tenants 36

Tenants Landlords Logistics Insurance 36

Lamacchia Realty

JULY 10, 2023

Whether you’re an experienced real estate investor or a first-time homebuyer , it’s extremely important to have a full understanding of the problems surrounding defective drywall, and what to do if it’s found in the house you’re purchasing. These are all things that should be discussed during negotiations.

Inspection 64

Inspection Realty Agents Sellers 64

McKissock

APRIL 3, 2022

There are usually too many cooks in the kitchen when you’ve got those who handle your listings, payment transactions, as well as your legal documentation with your clientele. Immutability. Cutting Out Middlemen. The Current State of Bitcoin.

Real Estate 73

Real Estate Real Estate Agent Technology Contracts 73

Housing Wire

MAY 16, 2022

As the legally proven common agent serving as a mortgagee in the public land records, eliminating the need for mortgage assignments, lenders save up to $125 on every loan when servicing is transferred. Chris McEntee: For over 25 years MERS has been integral in the mortgage industry’s evolution of moving from paper to eMortgages.

Legal 344

Legal Investors Transportation Mortgage 344

AmeriMac

JULY 25, 2022

Resolves Legal Conflict. During legal proceedings, one or both parties may question the accuracy and relevance of the appraisal report used. They give investors extra information to help them make better and informed business decisions. Home hunters and investors make their decisions based on the info contained in the document.

Real Estate 36

Real Estate Appraisal Valuation Clients 36

The Robert Weiler Company

SEPTEMBER 23, 2020

Most building owners and multi-family real estate investors don’t realize that property management companies can completely relieve them of the day-to-day administration of property, prospects, and tenants. Thorough and clear documentation is key to informing you of the decisions they make.

Property Management 142

Property Management Tenants Investing Legal 142

Housing Wire

APRIL 20, 2022

eVaults also support an enhanced customer experience for borrowers and streamline interactions with other participants — warehouse lenders, investors, servicers, etc. Yes, the eVault stores eNotes and other documents, including paper documents that have been wet-signed and uploaded into the eVault as part of a hybrid transaction.

Lending 334

Lending Investors Technology Business 334

The Robert Weiler Company

APRIL 5, 2023

Industrial real estate investors and developers can’t add new properties to the market fast enough. LawDepot™ explains a sublease as, “… a legally binding contract between a tenant and a new tenant… The sublease gives the subtenant the right to share or to take over the rented premises from the first tenant.”

Landlords 144

Landlords Tenants Logistics Real Estate 144

Cleveland Appraisal Blog

NOVEMBER 3, 2022

Investors who need a value of a home before and after the proposed repairs are made, sometimes use appraisers. People may want to hire someone to take photos of personal property items that they would like to document that they possess for insurance purposes. Appraisals are also often needed for tax appeals and for private cash sales.

Business 393

Business Appraisal Real Estate Agent Clients 393

McKissock

MAY 8, 2022

There are usually too many cooks in the kitchen when you’ve got those who handle your listings, payment transactions, as well as your legal documentation with your clientele. Immutability. Cutting Out Middlemen. The Current State of Bitcoin.

Real Estate 52

Real Estate Real Estate Agent Technology Agents 52

Hank Miller Team

FEBRUARY 27, 2022

Add to the mix Wall Street and corporate investors circling like apex predators. Contracts are legal binding documents; mistakes or poor decisions will be expensive, time consuming and emotionally draining. Inventory is even lower than last year and no one is expecting a major change any time soon.

Buyers 52

Buyers Inspection Contracts Sellers 52

Listing Spark

JANUARY 15, 2024

Real estate investors face a lot of challenges, even in Texas markets that are showing a strong ROI for flips and sales. Many real estate investors who don’t want to pay an agent to represent them deal with even more issues, ranging from lack of access to industry resources to paying for services they don’t really need.

Brokerage 36

Brokerage Investors Investing Real Estate 36