Housing Wire

AUGUST 4, 2022

Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. The post Real estate brokerage Radius unveils mortgage-lending arm appeared first on HousingWire.

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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?

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Technology Lending Government Legal 466

Housing Wire

MARCH 21, 2022

Chambliss is currently the deputy general counsel for mission and anti-predatory lending at the enterprise. In that role he gives legal and regulatory advice on activities connected with fulfilling Freddie Mac’s mission. He also oversees Freddie Mac’s anti-predatory lending efforts. At Fannie Mae, 4.0%

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Housing Wire

APRIL 20, 2022

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S.

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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

FEBRUARY 9, 2023

The lenders, both privately held, will retain their names and brands after the transaction, but APMC will be the new legal entity as the companies come together. The merger will result in an “increased lending footprint” to better serve clients, Paul Kessel, president of American Portfolio, said in a statement.

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Housing Wire

APRIL 4, 2023

The Consumer Financial Protection Bureau (CFPB) issued a new policy statement on Monday that outlines standards for the legal prohibition of abusive conduct in consumer financial markets, summarizing over a decade of precedent. Abusive conduct prohibitions were established in the wake of the 2008 financial crisis.

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Housing Wire

JULY 14, 2022

“The problem is we’re not backed by the government sponsored enterprises (GSEs). Cuts also hit operations, risk and compliance, legal, finance, business operations and marketing teams, according to a presentation held on Wednesday afternoon. . . Of the 39 employees laid off, 12 cuts hit the human resources team.

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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. We also commend the whistleblower for coming forward, exposing these wrongs, and working with the government investigative team.”.

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Housing Wire

APRIL 4, 2024

Meanwhile, community-focused trade groups and associations, although feeling that the new rules miss some relevant aspects of fair lending, criticized the judge’s decision. 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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Housing Wire

FEBRUARY 1, 2023

While mortgage attorneys said the “Control your Price” initiative doesn’t appear to clearly cross the legal line, they raised compliance concerns — including rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts.

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Housing Wire

AUGUST 22, 2023

The proposed rule will implement quality control standards that govern AVMs used by originators and secondary market issuers in valuing the real estate collateral securing mortgage loans. The National Association of Mortgage Brokers (NAMB) said it supports new federal regulatory proposals governing the use of AVMs.

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Appraisal Buzz

APRIL 29, 2024

If you aren’t in control of your clients, your fees, your market, or the main factors that drive your business, you’re always under threat by outside forces, like interest rates and government policy. To that end, the appraisal business is ripe with opportunities to diversify and have revenue streams from multiple sources.

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Housing Wire

JANUARY 24, 2023

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices.

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Housing Wire

DECEMBER 11, 2020

LendingHome , which focuses on lending to real estate investors, named Michael Bourque as CEO after he served as LendingHome’s chief operating officer and chief financial officer since joining the company in August 2018. The leadership change comes as Thomas Black, Jr. 31, when he will join Calvin Mann as counsel to the firm.

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Housing Wire

JUNE 21, 2023

Other measures in the “proposed rule” stage include rulemaking on personal financial data rights; Property Assessed Clean Energy (PACE) financing and its interactions with the Truth in Lending Act (TILA); and the supervision of certain, larger nonbank covered participants for compliance with federal consumer financial laws.

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Housing Wire

JUNE 14, 2023

We learned the hard lesson in the financial crisis when it came to predatory mortgage lending, and the reforms we’ve put into place have built a lot of resilience in the system.” In his opening statement, Brown also described recent actions challenging the CFPB’s constitutionality as legal maneuvers seeking to invalidate the CFPB.

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Housing Wire

DECEMBER 20, 2023

It’s the ultimate in legalized fraud. In and of itself, it’s legal, provided the lead really did come from the source and it’s diligently tracked by the lender. In and of itself, it’s legal, provided the lead really did come from the source and it’s diligently tracked by the lender.

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Housing Wire

JUNE 1, 2021

HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. How hybrid title and valuations help increase lending efficiency. Developers, lenders or local governments could compete for the funds through an application process. Streamline by combining services.

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Housing Wire

OCTOBER 2, 2020

The proposed rule addressed capital, liquidity, governance, policy related to entity survivorship, and more. The nonbank servicing model grew at the behest of the federal government and the GSEs and more. Nonbanks do not set the rules of lending. It began because mostly larger banks simply could not meet the challenge.

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Housing Wire

JANUARY 6, 2022

The government-sponsored enterprises must do this by setting a plan every three years, dubbed Duty to Serve, that provides lending liquidity and preservation goals for manufactured, rural, and affordable housing. A federal law mandates that Fannie Mae and Freddie Mac help households on moderate, low, or very low income.

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Housing Wire

FEBRUARY 2, 2024

The remainder transitioned to CrossCountry Mortgage , Synergy One Lending , Capital Bank , First Home Mortgage Corp. and NFM Lending. The Regulation Z loan originator compensation rule does not govern this issue. According to the NMLS, two top DKMC originators not transitioning to NAF are not licensed with any lender.

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Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. “The Bank Home Mortgage and Planet Home Lending declined to comment.

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Housing Wire

MAY 20, 2021

He set his sights on CapLOC , a North Carolina-based mortgage lending business, and tried to sell CapLOC First Mortgage Company’s lending arm for a quick buck. billion for the government-sponsored entity. As part of the plea deal, the government agreed not to push for a sentence longer than 8.5

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Housing Wire

FEBRUARY 16, 2024

The DOJ also noted that this type of conditional offer is permitted under federal government lending programs, thus requiring no changes to lending regulations. Originally filed in 2020 in U.S.

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Housing Wire

JUNE 8, 2022

The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap. Both plans rely heavily on special purpose credit programs , which allow lenders to target lending to protected classes without violating the Equal Credit Opportunity Act. . “A

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Housing Wire

FEBRUARY 27, 2024

In the early 20th century, Black Americans faced significant barriers to homeownership, including racial segregation, discriminatory lending practices, and exclusionary covenants that prevented them from buying homes in certain neighborhoods. But it wasn’t enough.

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Real Estate Investors Business Lending 432

Housing Wire

APRIL 6, 2021

Elaine Marshall, North Carolina Secretary of State, described it as a “win-win-win for home buyers, the business sector and the government sector in making the mortgage closing process less time consuming, less stressful, and even more secure.” Full e-Closings reduce the use of paper, legal fees, mailing and courier costs.

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Mortgage Legal Fees Law Legal 346

McKissock

SEPTEMBER 21, 2021

Luckily, there are steps you can take to limit your legal liability and keep yourself and your business protected. Craig Capilla will discuss the legal ins and outs of the engagement letter to put appraisers in the best position to satisfy client expectations and limit liability. About the presenter.

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Appraisal Legal Government Valuation 80

Housing Wire

FEBRUARY 8, 2022

Goldstone, who is president of Capital Markets & Lending at BSI Financial Services , estimates that between 20% to 25% of borrowers in BSI’s servicing portfolio have been non-communicative, he told HousingWire. We already know that government staff were low, to begin with. An army of door-knockers. To read the full issue, go here.

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Will Springer Realtor

JANUARY 16, 2024

These acts were deemed legal by the Supreme Court until 1948 and by Congress until it enacted the Fair Housing Act (Title VIII of the Civil Rights Act of 1968). Tens of thousands of documents with language against protected classes of people still exist in our state even as they no longer hold legal standing.

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Real Estate Law Legal Training 52

McKissock

JANUARY 6, 2023

There are appraisal jobs available in the lending sector, such as staff appraisers, review appraisers, fee panel managers, and with experience and time on the job, chief appraiser and valuation compliance officer jobs can be found. Non-lending appraisal courses. Who staffs these types of jobs?

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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. Some pretend to be with the government.  Other

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Housing Wire

APRIL 5, 2022

There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Lending is lending. Similar to consumer lending, you may consider a simplified tradeline-level AUS scorecard to deliver an instant decision to applicant(s).

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Real Estate Mortgage Property Taxes Law 530

DataMaster

APRIL 6, 2021

Many people don’t understand home appraisals and how appraisers are legally bound to operate. Lenders make sure that they are lending the right amount of money for a home. They are also monitored by Government Sponsored Entities (GSEs) Fannie Mae and Freddie Mac. But still, he was baffled. I Just Don’t Get It!

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Appraisal Appraisal Process Buyers Legal 158

Housing Wire

FEBRUARY 14, 2024

Department of Housing and Urban Development (HUD) deputy secretary Brian Montgomery and his partners, announced this week the launch of a new subsidiary that will offer its expertise to financial services firms seeking fair lending and other compliance management services. You can’t just say ‘we did it legally’ or ‘we did a review.’

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Lending Clients Government Legal 418

Appraisal Buzz

SEPTEMBER 26, 2022

The “official unofficial” government-related loan definition of market value is clear. Let’s pretend that government policies do not impact real estate markets. Let’s pretend that these loans are not highly leveraged investments (not legal in stocks or other markets). Let’s also pretend predatory lending never took place.

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