Housing Wire

FEBRUARY 27, 2023

RMK Financial Corporation , which does business as Majestic Home Loans , has been permanently banned by the Consumer Financial Protection Bureau (CFPB) from the mortgage lending industry following a series of repeat offenses — which occurred despite the CFPB’s law enforcement order issued in 2015. government. government.

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Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , Mayopoulos resigned from Fannie Mae in 2018 and joined mortgage software startup Blend the following year, becoming one of the highest-profile executives to join the fintech industry.

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Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

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Mortgage Government Retail Lending 491

Housing Wire

DECEMBER 14, 2023

The fees paid to the mortgage-backed security (MBS) investor and lender are next with the accumulated cost of the annual interest payments made to the investor(s) that purchased the MBS bond containing the mortgage, and the lender’s net origination charges at closing plus the accumulated value of the excess interest the lender charges for profit.

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Insurance Property Taxes Buyers Investors 432

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.

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Legal Mortgage Contracts Insurance 421

Housing Wire

MAY 20, 2021

The founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also the president of the Mortgage Bankers Association in the late 1990s, pleaded guilty to five counts of bank fraud, money laundering and false statements to a financial institution. billion for the government-sponsored entity.

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Mortgage Government Lending Insurance 458

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”.

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Housing Wire

JANUARY 27, 2022

housing entities are at odds over the future of the federal government’s cash-strapped flood insurance program. But Fannie Mae , the government-sponsored entity that backstops a significant portion of the country’s mortgages, does not seek an exception to the 1974 Federal Privacy Act. Two of the most powerful U.S.

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Insurance Government Law Real Estate Agent 384

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. Department of the Treasury ; and the Federal Reserve System. .

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Valuation Appraisal Government Real Estate 370

Housing Wire

MARCH 7, 2024

President Joe Biden’s new plan to lower housing costs includes a pilot program that waives the requirement for lender’s title insurance on certain refinance transactions, according to the White House. However, that’s a controversial topic for the mortgage industry and it’s already facing resistance from trade groups.

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Insurance Legal Mortgage Government 479

Housing Wire

APRIL 4, 2024

The following day, Martin Gruenberg, chairman at the Federal Deposit Insurance Corp. Kevin Stein, chief of legal and strategy at Rise Economy, said during the same session that the new CRA rules ignore some relevant topics.

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Modernization Law Legal Landlords 318

Raleigh Realty

MARCH 29, 2021

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?

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Housing Wire

DECEMBER 21, 2020

The trade organization announced Elizabeth Blosser as its new vice president of government affairs. She ensured the association continued to provide networking and educational opportunities to the title insurance industry within the new platform. Finally, it named Emily Tryon its senior director of public policy and government affairs.

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Insurance Government Advertising Legal 340

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

OCTOBER 12, 2020

Under the CARES Act, homeowners have been able to ask for forbearance from their mortgage servicers and suspend payments for up to 12 months. Though numbers have declined since hitting a peak earlier this year, the Mortgage Bankers Association estimates there are still at least 3.4 million homeowners in forbearance plans.

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Housing Wire

MARCH 20, 2024

Buyer representation becomes mainstream The dramatic volume of lawsuits filed by aggrieved buyers highlighted the urgent need for change—a need our government in all of its infinite wisdom (sarcasm intended) failed to address at the time. These are areas where professional expertise is not just beneficial but essential.

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Real Estate Buyers Agents Sellers 479

Housing Wire

FEBRUARY 27, 2024

The practice of redlining , initiated in the 1930s, where banks and insurers refused services to entire neighborhoods based on racial composition, further entrenched these disparities. Despite these legal advancements, Black Americans still face challenges in achieving homeownership at rates comparable to other demographics.

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Real Estate Investors Business Lending 432

Housing Wire

SEPTEMBER 15, 2020

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. Consumer loans such as mortgages and other financial documents require notarization. insurance companies, including home and auto providers.

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Business Law Real Estate Investors 491

Housing Wire

JULY 12, 2022

Starting in July, the government-sponsored enterprise will allow remote inspections on some refinance loans it buys. Beginning July 17, Freddie Mac will accept some mortgages with hybrid appraisals — but the list of caveats is lengthy. Mortgages for manufactured homes, investment properties, duplexes and fourplexes are not eligible.

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Appraisal Inspection Real Estate Agent Training 410

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Is there demand for “mortgages” to buy virtual real estate in the Metaverse?

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Real Estate Mortgage Property Taxes Law 530

Housing Wire

FEBRUARY 8, 2022

Goldstone is an executive at a mortgage servicer company trying to reach out to homeowners. “We But we’re having a hard time reaching out to them,” he said during a panel at the annual Residential Mortgage Servicing Rights Forum held in New York City in October. We know who the borrowers are. We service their loans. of the U.S.

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Law Mortgage Legal Finance 370

Appraisal Today

NOVEMBER 24, 2023

The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. Obviously, you need legal counsel, but you may also need USPAP counsel as well. They may allow you to come back as an insured appraiser.

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Housing Wire

APRIL 12, 2023

Many of these BEC scams are perpetrated by well-organized overseas criminal groups that operate with the sanction of corrupt or authoritarian governments, which also get a cut of the action, according to cybersecurity experts interviewed by HousingWire. The nations that harbor these criminal enterprises are typically U.S.

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Real Estate Government Technology Real Estate Agent 384

AmeriMac

JUNE 20, 2022

If you are at retirement age, or close to it, you may be seeing a lot of advertising for reverse mortgages. Reverse Mortgage Basics. If you own property, and you are 62 or older, a reverse mortgage makes it possible for you to borrow against the equity you have in your home. The Pros of a Reverse Mortgage.

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Mortgage Insurance HOA Advertising 36

D Fritz Appraisals

FEBRUARY 22, 2023

Taking equity out of your home to buy another house can be a financially advantageous option, as it allows homeowners to tap into the built-up value of their primary residence without worrying about saving up for a second mortgage. Homeowners can access this equity through refinancing, taking out a second mortgage or HELOC.

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Real Estate Investing Appraisal Market Value 124

Appraisal Today

MAY 10, 2024

New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. Now there is, per the attached PDF HUD/FHA mortgage letter. The mortgage loan officer handling the loan?

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Raleigh Realty

FEBRUARY 19, 2022

They should also hold professional liability insurance which will cover you if the surveyor makes a mistake when surveying the property and goes over property lines. Hiring a professional surveyor is the only legally binding method to determine exactly where the property lines fall. Is there an app that shows property lines?

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Eppraisal

JANUARY 23, 2024

    Exploitive Lending and Mortgage Relief There have been 35 mortgage relief scams filed by the Federal Trade Commission in recent years, in which scammers promise to negotiate your rate with mortgage lenders, audit loan paperwork or provide legal services for a fee.

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McKissock

OCTOBER 23, 2020

How are divorce appraisals different from standard mortgage lending appraisals? If the IRS reviewer rejects an appraisal, there could be significant restraints on any future appraisal work for the IRS or other federal government agencies. Insurance claims. Bankruptcy. Partitionment.

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Appraisal Insurance Legal Development 77

Zillow

JULY 15, 2019

Cash-value policy : A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur. This document spells out all the terms of the loan: the amount, the interest rate, the monthly payment, mortgage insurance, the monthly escrow amount and all closing costs.

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Real Estate Agent Insurance Inspection Buyers 56

Housing Wire

AUGUST 4, 2021

In March, Congress allocated $10 billion in funds to prevent homeowners from falling behind on their mortgage, losing utility services, or being displaced. The funds can, potentially, be used to pay debt owed the government, in the form of delinquent property taxes.

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Property Taxes Government Legal Development 421

McKissock

JANUARY 6, 2023

You should also consider non-QM lenders (non-qualified mortgage lenders). Aside from that, there are also private mortgage insurance (PMI) providers, like Radian, MGIC, or Genworth that may have open appraisal-related jobs. They all handle land and building acquisitions and dispositions, as well as condemnation valuations.

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Appraisal Training Lending Land Management 74

PennyMac

JUNE 28, 2022

Getting a mortgage isn’t free, and closing on a house isn’t free. After all, you’re already paying a down payment, potentially a mortgage payment, and potentially other fees. From taxes, to inspection fees, to mortgage fees, you’ll need to make sure each party is paid to fully purchase your home. FHA Mortgage Insurance Premium.

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Insurance Property Taxes Sellers Inspection 36

Housing Wire

MARCH 7, 2022

Unlike currencies issued by a country’s government, cryptocurrency is digital and has no central administration. The NFT representing ownership of an LLC representing ownership of a house is 100% legally meaningless. A deed transfer often includes the new owner ensuring they are the property holder through title insurance.

Real Estate 485

Real Estate Law Inspection Agents 485

Will Springer Realtor

AUGUST 2, 2022

A Homeowners Association can take legal action against an owner and win legal judgments for damages if rules are flouted – proceedings that may slow or prevent the sale. A lender typically will not offer a mortgage where a building or septic system creep on a neighbor’s land without clear documentation signed by both owners.

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Easement Sellers Legal Buyers 36

Quicken Loans

JUNE 7, 2021

You might not think you’ll ever need to understand the basics of power of attorney, which is the act of granting someone else the power to sign legal documents on your behalf. A power of attorney is a form required to grant someone else the power to sign legal documents on your behalf. How Does Power Of Attorney Work? Incapacitation.

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Appraisal Today

JUNE 23, 2023

NOTE: Please scroll down to read the other topics in this long blog post on AVMs and AI, good appraisal book, Real estate market, Fannie, non-lender appraisals, unusual homes, mortgage origination stats, etc. A home valued too high can lock a homeowner into an unaffordable mortgage and increase the risk of foreclosure.

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Appraisal Real Estate Valuation Contracts 87