Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 387

Loan Officers Legal Real Estate Lending 387

Housing Wire

JANUARY 25, 2024

From at least August 29, 2022 to December 2, 2022, individuals who were not licensed as loan officers (LOs) in Connecticut acted as LOs by taking residential mortgage loan applications , soliciting Connecticut borrowers for mortgages and offering or negotiating terms of mortgages, according to the order issued earlier this month.

Loan Officers 354

Loan Officers Mortgage Finance Lending 354

Housing Wire

APRIL 18, 2024

A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment.

Loan Officers 416

Loan Officers Human Resources Contracts Mortgage 416

Housing Wire

MARCH 30, 2023

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.

Retail 391

Retail Loan Officers Legal Technology 391

Housing Wire

NOVEMBER 10, 2022

Houlihan Lokey served as financial advisor and Pierce Atwood served as legal advisor to Mortgage Network. Troutman Pepper was Movement’s legal advisor in the M&A transaction. “We Movement says it employs more than 1,500 loan officers nationwide and has over 550 branches.

Retail 370

Retail Mortgage Loan Officers Legal 370

Housing Wire

DECEMBER 15, 2023

It’s the latest salvo in a legal battle that started after the three of Movement’s veteran sales executives — Deran Pennington, Matt Schoolfield and Chris Shelton — left for Summit in July. Movement also accuses Scrima of creating a scheme to divert its customers to Summit through its “resigning loan officers.”

Legal 376

Legal Loan Officers Retail Business 376

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender. million , down from $26.5

Business 423

Business Loan Officers Law Mortgage 423

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. Fannie Mae, Freddie Mac and the U.S.

Buyers 388

Buyers Agents Loan Officers Real Estate 388

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 363

Lending Finance Loan Officers Legal 363

Housing Wire

AUGUST 31, 2022

The lender has roughly 300 mortgage loan officers and 1,800 team members and does in-house processing and underwriting. According to Inside Mortgage Finance estimates, Cornerstone, independently held, is a top-50 retail mortgage lender. was the financial advisor and Holland & Knight LLP the legal counsel.

Lending 317

Lending Retail Legal Loan Officers 317

Housing Wire

AUGUST 10, 2022

“We are well positioned to educate consumers about the loan process and help them overcome whatever challenges that may arise. Panorama offers platforms for human resources, finance, technology, legal and compliance services to its group of lenders.

Lending 405

Lending Human Resources Mortgage Loan Officers 405

Housing Wire

JULY 19, 2022

Even in a downturn, the loan officer recruiting wars remain fierce. Beleaguered nonbank lender loanDepot is suing rival lender CrossCountry for allegedly dozens of poaching high-performing loan officers from its New York branches. Anthony Hsieh, founder and CEO of loandepot. billion in business.

Loan Officers 383

Loan Officers Contracts Legal Business 383

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. VanFossen said there are talks about the “mortgage industry figuring out methods to finance the buyers’ real estate agent commission.” “As

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

JUNE 30, 2021

The lender’s offices were concentrated in white neighborhoods, and nearly all of its loan officers were white. The CFPB also found that loan officers sent internal emails “containing racist and derogatory content.”. In the lender’s direct marketing and open house materials, the models were white.

Loan Officers 421

Loan Officers Lending Open Houses Legal 421

Housing Wire

APRIL 1, 2024

billion in mortgage loans in 2023, according to Kortas. As of Monday, the company had 2,391 sponsored mortgage loan officers, per the Nationwide Multistate Licensing System (NMLS). NEXA’s businesses America’s largest mortgage brokerage, NEXA originated $6.29 But that’s not the case for the aviation business.

Brokerage 360

Brokerage Business Loan Officers Legal 360

Housing Wire

AUGUST 17, 2023

The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years.

Realty 370

Realty Mortgage Brokerage Real Estate 370

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.” Freedom had to pay a $1.75

Brokerage 393

Brokerage Realty Real Estate Loan Officers 393

Housing Wire

JANUARY 30, 2023

According to the class-action-seeking lawsuit, filed in California, AmeriSave hired 200 loan officers to focus on the West Coast region in early 2022. year over year, according to Inside Mortgage Finance estimates. It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division.

Loan Officers 452

Loan Officers Retail Contracts Mortgage 452

Housing Wire

FEBRUARY 6, 2023

billion in mortgages, according to Inside Mortgage Finance. More than 17,000 loan officers joined the mortgage broker channel this year, with about half of them coming from the retail channel, Ishbia told analysts in its latest third quarter earnings. The trend continued into the fourth quarter, during which UWM originated $25.75

Mortgage 302

Mortgage Loan Officers Retail Legal 302

Housing Wire

DECEMBER 18, 2023

Colgate Selden is an attorney, a partner at SeldenLindeke and has over 20 years of regulatory legal experience in government and as in-house and outside counsel, and also served as a founding member of the Consumer Financial Protection Bureau (CFPB) as senior counsel in its Office of Regulations. They [may] have to do it,” he said. “I

Mortgage 408

Mortgage Business Legal Real Estate 408

Housing Wire

JANUARY 6, 2023

The lawsuit was filed on December 23 in the Superior Court of the State of California for the County of Orange by about 40 former loanDepot employees, including loan officers, processors, underwriters, loss mitigation and foreclosure specialists. The company produced $47.4

Loan Officers 435

Loan Officers Law Mortgage Real Estate 435

Housing Wire

AUGUST 25, 2023

Through its origination business, AmeriFirst kept its business purpose lending (BPL), providing four products, including debt-service coverage ratio (DSCR) loans, bridge financing, investor construction loans and residential transition loans (RTLs).

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. Seely joined Guild in 2021 when the California-based lender paid $196.7 million to acquire Residential Mortgage Services Holdings (RMS), a Maine-headquartered retail lender of which Seely was president and CEO.

Retail 386

Retail Contracts Loan Officers Mortgage 386

Housing Wire

APRIL 16, 2024

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

Real Estate Agent 426

Real Estate Agent Loan Officers Real Estate Agents 426

Housing Wire

SEPTEMBER 15, 2020

business advisory firm in real estate, mortgage finance, digital mortgage, banking and capital markets. Borrowers and loan officers want and need remote capability to maintain social distancing and continue to transact business,” Madocks said.

Business 471

Business Law Real Estate Investors 471

PennyMac

JUNE 2, 2022

Financing, knowing what kind of property to buy, and the many other steps are all part of a well-rounded investment plan. It may seem overwhelming, but with the right financing, this is doable. Some people are able to buy with cash, while others opt for other financing. Property taxes. Maintenance costs. Mortgage payments.

Real Estate 69

Real Estate Investing Tenants Property Management 69

Eppraisal

DECEMBER 28, 2021

While applicants can feel uneasy about a bank looking so closely at their financial lives, they can nonetheless take comfort from the fact that the lender's thoroughness enables it to make loans in the first place. A working knowledge of the approval process can lower applicant anxiety considerably.

Mortgage 68

Mortgage Home Value Insurance Loan Officers 68

Housing Wire

APRIL 23, 2024

Chamber of Commerce has vowed to take legal action against the FTC, according to a statement calling the ban “an unlawful power grab.” Most real estate agents are freelance employees, but some mortgage loan officers, account executives and marketing personnel are bound by such agreements. labor force.

Real Estate Agent 414

Real Estate Agent Loan Officers Lending Real Estate 414

Assurance Financial

DECEMBER 20, 2021

According to Freddie Mac, almost 90% of American homeowners finance their homes with a 30-year mortgage. This option may require some extra steps and additional help with financing the purchase. If you’re unable to pay for a new home out of pocket, you have several options for financing: 1. Bridge Loan.

Mortgage 74

Mortgage Sellers Buyers Finance 74

Housing Wire

MARCH 22, 2021

I discerned, frankly, that these companies all had good legal counsel and would address their reply to this very unusual policy proclamation in their own way. Without question, the vibrant state of the U.S. mortgage industry drives the best in consumer options and experience. But as time has passed, I simply cannot let it go.

Business 539

Business Retail Mortgage Lending 539

AmeriMac

SEPTEMBER 1, 2021

In 2009, Freddie Mac and Fannie Mae, government housing lending institutions, the Federal Housing Finance Agency (FHFA) and the New York Attorney General got together to create the Home Valuation Code of Conduct (HVCC). These legal changes lead to a sharp increase in the use of AMCs. Why AMCs Are Important Under Federal Law.

Appraisal 36

Appraisal Valuation Law Lending 36

PennyMac

DECEMBER 22, 2020

The lender initiates legal proceedings against the borrower to foreclose on the property. Step 2: Find a Lender and Discuss REO Financing. Once you’ve found a property you are interested in, talk to a lender about your financing options. Foreclosure.

Inspection 69

Inspection Real Estate Agent Real Estate Agents 69

AmeriMac

MARCH 15, 2024

The HVCC was a set of appraisal guidelines created by Freddie Mac, Fannie Mae, the Federal Housing Finance Agency (FHFA), and the New York Attorney General. Loan officers can focus on other aspects of the loan origination process, knowing that the appraisal process is being handled by qualified professionals.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

Lamacchia Realty

MARCH 4, 2024

Unlike loan officers at the bank or credit unions who work for a single institution, mortgage brokers have access to a vast network of lenders, providing borrowers with a wider range of options. Streamlined Process and Time Saving In the fast-paced world of real estate, time is of the essence.

Mortgage 69

Mortgage Legal Realty Buyers 69

PennyMac

APRIL 2, 2020

Your home buying budget will be impacted by your household finances and the market you are searching in. Is Homeowners Insurance Legally Required? No matter which step you’re on, working with a PennyMac Loan Officer or getting started online is a great way to make your homeownership dream a reality.

Real Estate Agent 36

Real Estate Agent Inspection Sellers Agents 36

Quicken Loans

JUNE 10, 2021

Finalize The Loan. After you’ve legally bound your offer with a purchase agreement, you’re ready to apply for your mortgage and finalize the terms of the loan. Loan officers will need any information you haven’t yet provided surrounding your debts, assets, credit and income.

Mortgage 68

Mortgage Real Estate Agent Sellers Appraisal 68

PennyMac

AUGUST 10, 2022

For an FHA loan, the details are a little different. FHA loans don’t have the same standards of a conventional loan, rather, they require the following two kinds of mortgage insurance premiums: one paid in full upfront (or financed into the mortgage) and another paid as a monthly fee, regardless of how much equity you have.

Insurance 36

Insurance Buyers Mortgage Renovations 36