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. The panel noted the findings of the latest Fannie Mae mortgage lender sentiment survey.

Technology 450

Technology Lending Government Legal 450

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

Finance 444

Finance Government Mortgage Legal 444

Housing Wire

DECEMBER 19, 2023

High-profile government actions against some of the nation’s largest financial firms for alleged violations of fair lending laws and loan servicing principles have sent a sobering message to industry CEOs and their boards: the buck stops at the top.

Legal 405

Legal Supply Chain Law Lending 405

Housing Wire

FEBRUARY 9, 2023

Amid the expectation of a wave of mergers and acquisitions in 2023, nonbank mortgage lenders American Portfolio Mortgage Corporation and Town Square Mortgage announced on Wednesday that the companies are merging their operations. This week, Guild announced it has acquired Legacy Mortgage.

Mortgage 369

Mortgage Retail Loan Officers Lending 369

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.

Mortgage 487

Mortgage Government Retail Lending 487

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 408

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.

Legal 405

Legal Mortgage Contracts Insurance 405

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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Government Lending Development Legal 541

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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Law Legal Valuation Government 417

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.

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Construction Real Estate Agent Loan Officers Legal 395

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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Marketing Law Legal Government 378

Housing Wire

JANUARY 24, 2023

United Wholesale Mortgage ‘s (UWM) aggressive moves to gain an edge on the competition tend to provoke controversy. Attorneys interviewed by HousingWire said nothing appeared to be clearly over the legal line with the Control Your Price initiative. Ultimately, they would be denied access to mortgages.

Lending 369

Lending Law Legal Training 369

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. ” Another trade group weighed in on the newly proposed rule.

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Valuation Appraisal Government Real Estate 370

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. One top-producing California -based loan officer said she was excited when a top 35 mortgage lender tried to recruit her with the promise of multiple pricing buckets.

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Loan Officers Clients Law Legal 454

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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Human Resources Construction Legal Investors 395

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. She will also be charged with oversight of the regulatory and compliance implementation process.

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Lending Legal Clients Development 383

Housing Wire

APRIL 6, 2021

eNotes contain the same information as a traditional mortgage note – on paper – but they are created, signed and stored digitally. Full e-Closings reduce the use of paper, legal fees, mailing and courier costs. The post Two Southern banks complete mortgage eNote transfer appeared first on HousingWire.

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Mortgage Legal Fees Law Legal 289

Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. This is reflected in data collected by the mortgage tech platform Modex and the Nationwide Multistate Licensing System (NMLS). billion in mortgages in 2023. and NFM Lending. A spokesperson at NAF did not respond to a request for comments.

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Loan Officers Human Resources Law Mortgage 406

Housing Wire

JUNE 14, 2023

Chopra responded by describing a scenario in which mortgage borrowers lose a critical advocate while lenders are left in an uncertain operating environment. Well certainly, in as much as the Fifth Circuit’s ruling is sustained, it would create major uncertainty in our mortgage markets,” Chopra said. “It

Legal 361

Legal Law Government Realtors 361

Housing Wire

OCTOBER 2, 2020

The proposed rule addressed capital, liquidity, governance, policy related to entity survivorship, and more. There are a few lessons to remember here: Nonbanks did not create the unsustainable mortgage market. The nonbank servicing model grew at the behest of the federal government and the GSEs and more.

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Government Investors Lending Mortgage 523

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 The lender and LO can make or break the transaction.”

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Buyers Agents Loan Officers Real Estate 395

Housing Wire

JUNE 1, 2021

The provisions are the Biden administration’s latest effort to combat the racial wealth gap, which Fudge called attention to during recent remarks to the Mortgage Bankers Association. HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. Streamline by combining services.

Renovations 505

Renovations Development Investors Legal 505

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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Modernization Law Legal Landlords 280

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.

Clients 195

Clients Business Appraisal Lending 195

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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Development Finance Government Lending 365

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.

Legal 521

Legal Law Government Lending 521

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. You’ll find most of these assets attached to real estate in urban areas.

Real Estate 427

Real Estate Investors Business Lending 427

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.

Law 370

Law Mortgage Legal Finance 370

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?

Real Estate 529

Real Estate Mortgage Property Taxes Law 529

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. CE course: Avoiding Mortgage Fraud for Appraisers.

Appraisal 80

Appraisal Legal Government Valuation 80

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.

Real Estate 53

Real Estate Law Legal Training 53

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. Mortgage applications increased 3.0

Appraisal 75

Appraisal Mortgage Business Contracts 75

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.

Real Estate 124

Real Estate Investing Appraisal Market Value 124

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.

Legal 36

Legal Real Estate Agent Lending Real Estate 36

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. You should also consider non-QM lenders (non-qualified mortgage lenders). Non-lending appraisal courses.

Appraisal 74

Appraisal Training Lending Land Management 74

DataMaster

APRIL 6, 2021

Many people don’t understand home appraisals and how appraisers are legally bound to operate. Appraising is an often misunderstood part of the refinance and mortgage process. Lenders make sure that they are lending the right amount of money for a home. But still, he was baffled. I Just Don’t Get It! Conclusion.

Appraisal 158

Appraisal Appraisal Process Buyers Legal 158

Housing Wire

FEBRUARY 14, 2022

Heidi brings deep expertise in areas across the legal spectrum, including in mortgage lending, servicing, credit access and regulatory matters, among others,” said Michael DeVito, CEO of Freddie Mac. “I Weiss was the fifth-highest earning named executive officer at Freddie Mac in 2021, with a total compensation of $2.3

Legal 369

Legal Law Lending Development 369