Housing Wire

JANUARY 24, 2022

Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote. Apart from questions of governance, the report found significant gaps in the Appraisal Foundation’s fair housing requirements and training.

Government 370

Government Appraisal Reconsideration of Value Lending 370

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Lending Government Legal Law 432

Housing Wire

MARCH 14, 2024

Michael Hild, who served as CEO of now-defunct reverse mortgage lender Live Well Financial , is seeking a one-year delay of a deadline to file a motion for a new trial based on what his attorney describes as “new evidence.” Hild’s attorney conferred with the government on the matter and says it “objects to this request.”

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Government Legal Mortgage 421

Housing Wire

NOVEMBER 8, 2023

Data from the Legal Research Center concluded that all 50 states and Washington, D.C., Citing the research, Kasper added that there is “no need to have federal government involvement in a practice that each state knows how to handle best. A lapse in NFIP will take place if the government enters a shutdown, which will take place on Nov.

Legal 420

Legal Law Insurance Real Estate 420

Housing Wire

JANUARY 12, 2024

The court will decide whether or not national banks will be required to follow state-level laws governing escrow accounts’ accumulation of interest. New York’s state law, they say “doesn’t prevent national banks from making real-estate loans or providing mortgage-escrow services.

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Law Mortgage Government Real Estate 479

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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Lending Advertising Mortgage Law 384

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 370

Mortgage Retail Loan Officers Lending 370

Housing Wire

JANUARY 30, 2024

The suit, filed in October over loans TCB made to now-bankrupt lender Reverse Mortgage Funding (RMF), recently saw the presiding magistrate judge impose deadlines on all pretrial processes that extend into 2025, a point when it’s possible that new leaders — and, potentially, new priorities — will be steering the government-owned Ginnie Mae.

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Government Legal Law Mortgage 410

Housing Wire

DECEMBER 18, 2023

The Federal Communications Commission (FCC) last week released a new order amending its “express consent” rules for the Telephone Consumer Protection Act (TCPA), which closes the “lead generator loophole” used by mortgage professionals to connect with potential business leads. We now have a time clock of about six months.

Mortgage 432

Mortgage Business Legal Real Estate 432

Housing Wire

MARCH 1, 2024

government and former Live Well Financial CEO Michael Hild regarding a restitution amount owed to the company’s creditors, a magistrate judge overseeing the issue has recommended that Hild pay more than $46 million. Attorneys for Hild and the government have been at odds for the better part of a year over restitution.

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Government Legal Fees Market Value Legal 420

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 466

Technology Lending Government Legal 466

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. Just ask the ones who in the recent past have lost their jobs or faced reputational damage.

Legal 410

Legal Law Supply Chain Lending 410

Housing Wire

SEPTEMBER 25, 2023

Equifax ‘s new product integration with the United Kingdom’s IRIS Software Group aims to cut down underwriting time for mortgage borrowers at small- and medium-sized businesses (SMBs). When a consumer applies for a home mortgage , auto loan or social service benefits, their employer is required to provide employment and income history.

Legal 441

Legal Business Government Tools 441

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 491

Mortgage Government Retail Lending 491

Housing Wire

SEPTEMBER 15, 2022

loanDepot continues to make changes to its top management as it navigates a sharp workforce reduction in a shrinking mortgage market. He will oversee all aspects of loanDepot’s legal strategy and operations, including enterprise, shareholder and corporate governance matters.

Legal 384

Legal Government Technology Mortgage 384

Housing Wire

SEPTEMBER 13, 2023

Gavin Newsom of California on Tuesday received a senate bill legalizing remote online notarizations ( RON ). It found that California was one of the least equitable states in the country when it came to access to financial and government services. He has until Oct. 14 to act on it. It takes effect on Jan.

Real Estate 397

Real Estate Legal Government Technology 397

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.

Mortgage 458

Mortgage Government Lending Insurance 458

Housing Wire

JANUARY 24, 2024

A cohort of former employees at now-defunct reverse mortgage lender Live Well Financial has been granted final settlement approval in a class action lawsuit brought against the company’s estate in May 2019. Monica Williams, a former loan account manager in Live Well’s Richmond, Va. The class action lawsuit was filed in the U.S.

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Government Legal Law Mortgage 420

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 421

Housing Wire

MARCH 9, 2023

and rival mortgage software firm Black Knight. The merger would give ICE and Black Knight a significant position in the market for loan origination software, which it could use to push customers to its other mortgage services and products instead of rivals’ offerings, the agency argued.

Legal 370

Legal Valuation Mortgage Technology 370

Housing Wire

MARCH 13, 2023

While the FDIC — an independent government agency that insures bank deposits and overseas financial institutions — declined to comment on Mayopoulos’ role, his career has been focused on financial and legal expertise. Treasury and introducing new technologies to the housing finance system.

Insurance 384

Insurance Government Design Finance 384

Housing Wire

JULY 30, 2021

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. Now, that simply isn’t the case, Giordano says.

Mortgage 410

Mortgage Loan Officers Advertising Clients 410

Housing Wire

JANUARY 8, 2024

The presiding judge in the ongoing bankruptcy case of Reverse Mortgage Funding (RMF) has approved a stipulation that would resolve an administrative claim made against the company’s estate by reverse mortgage servicing company Celink , authorizing both companies to consummate the agreement.

Law 430

Law Property Taxes Legal Mortgage 430

Housing Wire

DECEMBER 16, 2022

For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. Much of the expense is invested in the efforts of land title professionals to review the title and purchase title data from local governments. Consumers can shop around and should compare policies.

Insurance 473

Insurance Government Legal Fees Real Estate 473

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.

Mortgage 358

Mortgage Legal Fees Law Legal 358

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. Is now a good time to invest in real estate automation technologies?

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Brokerage Real Estate Lending Mortgage 397

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

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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Government Real Estate Agent Insurance Property Taxes 148

Housing Wire

FEBRUARY 21, 2024

Texas Capital Bank (TCB), a warehouse lender that is suing Ginnie Mae over loans made by TCB to now-bankrupt lender Reverse Mortgage Funding (RMF), has objected to a motion by U.S. That is because the bank is seeking targeted information related to the cancellation of liens stemming from RMF’s portfolio of reverse mortgage-backed securities.

Government 410

Government Mortgage Legal 410

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.

Construction 397

Construction Real Estate Agent Loan Officers Legal 397

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.

Valuation 370

Valuation Appraisal Government Real Estate 370

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.

Marketing 384

Marketing Law Legal Government 384

Appraisal Buzz

MAY 14, 2021

The mortgage servicing industry’s top thought leaders converge with government reps for a Legal League 100 virtual gathering tackling the hot-button issues impacting the marketplace. The post The Week Ahead: Servicers Brace for the Future appeared first on DSNews.

Legal 195

Legal Government Appraisal Mortgage 195

Housing Wire

JULY 27, 2023

The letter, which was also sent to the CEOs of Fannie Mae and Freddie Mac , expresses appreciation to FHFA for “its efforts to improve the credit score reporting process and to offer more mortgage access with lower costs in mortgage transactions,” the letter said. credit score models by Fannie Mae and Freddie Mac.

Legal 370

Legal Government Finance Mortgage 370

Housing Wire

SEPTEMBER 27, 2022

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac , has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps.

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Government Investors Law Finance 545

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 370

Legal Law Government Realtors 370

Housing Wire

MARCH 28, 2024

The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home purchase transactions.

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Real Estate Agent Sellers Buyers Agents 450