Housing Wire

MAY 10, 2023

Cooper Group has entered into an agreement to acquire struggling Home Point Capital for $324 million in cash, the companies announced on Wednesday. Cooper was interested in Ann Arbor, Michigan-based Home Point spread prior to the latter selling its wholesale origination business to The Loan Store on April 7 and were amplified after.

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Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 The news was first reported by legal website Top Class Action. While Citywide Home Loans denies liability for the incident, it is still settling the lawsuit to end the claims.

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Legal Technology Insurance Lending 361

Housing Wire

AUGUST 31, 2022

Houston-based nonbank mortgage lender Cornerstone Home Lending announced on Wednesday it has received all regulatory approvals to acquire traditional depository The Roscoe State Bank, a deal that will expand its operations beyond the traditional mortgage business. was the financial advisor and Holland & Knight LLP the legal counsel.

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Lending Retail Legal Loan Officers 351

Housing Wire

MARCH 14, 2024

In a working paper published in late February by Borys Grochulski and Zhu Wang of the Federal Reserve Bank of Richmond , the Fed concluded that the current real estate agent compensation structure “may lead to elevated home prices, overused agent services, and prolonged home searches.” housing market. housing market. needs to change.

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Agents Legal Real Estate Agent Buyers 410

Housing Wire

MARCH 26, 2024

Just for a moment, let’s imagine a world in which a person purchases a home shortly before a global pandemic. Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs.

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Law Real Estate Property Taxes Marketing 427

Housing Wire

MARCH 14, 2024

Hello Divorce , a platform that provides legal assistance to couples in the process of divorce, has introduced a new service, HomeSplit, to help individuals navigate the process of dividing their home’s financial assets. In return, they receive a report detailing the various options they have for reaching their goals.

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Real Estate Legal Modernization Clients 447

Housing Wire

MARCH 22, 2023

Homebot , a home education portal that keeps people connected to their loan officers and real estate agents, acquired Quo Finance , a mobile app for first-time homebuyers. billion in home buying power and are working toward buying $5 billion in homes, the company said.

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Finance Real Estate Agent Loan Officers Legal 359

Housing Wire

MARCH 8, 2024

District Court for the Northern District of Texas that verbal agreements are not legally binding and the case should be dismissed, according to court filings reviewed by RMD. Attorneys for the U.S. government have repeatedly requested for the claims to be dismissed.

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Housing Wire

NOVEMBER 13, 2020

Offerpad also announced new hires on its executive team, appointing David Connelly as its new chief growth officer and Ben Aronovitch as its new chief legal officer. Connelly, who previously worked at Citigroup , and Aronovitch, who previously worked at Taylor Morrison Home Corporation , bring decades of combined real estate expertise.

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Lending Mortgage Retail Legal 437

Housing Wire

NOVEMBER 8, 2023

With home prices at all-time highs and concern that the labor market will break going into a recessionary period, is another 2008-style crash a possibility? And I’m not even talking about the over 40% of homes that don’t have a mortgage; I am just talking about homeowners who are paying a mortgage. Is the U.S. What happened here?

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Housing Market Legal Marketing Mortgage 418

Housing Wire

MARCH 15, 2024

NAR’s legal counsel approved the settlement agreement early Friday morning. According to NAR, this settlement brings an end to all of the litigation claims brought by home sellers. The National Association of Realtors has agreed to pay $418 million in damages to settle the commission lawsuits. It has yet to be filed in court.

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Housing Wire

APRIL 4, 2024

An action taken that is determined to be “arbitrary and capricious” would translate into “willful and unreasonable action without consideration or regard for the facts and circumstances,” according to Cornell Law School ’s Legal Information Institute. Presiding Judge Matthew Kacsmaryk ruled in the U.S.

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Housing Wire

JUNE 1, 2021

The Biden administration announced proposals to combat the racial wealth gap , including a tax credit to rehab homes for low and moderate-income homebuyers as part of the trillion dollar infrastructure package. HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing.

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Renovations Development Investors Legal 505

Housing Wire

NOVEMBER 23, 2021

A shortage of affordable starter homes is thwarting aspiring first-time homebuyers and fueling inflation in home prices. The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities.

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Investing Renovations Development Construction 442

Inman

MARCH 4, 2024

The all-white mansion on the shores of Georgica Pond boasts 951 feet of frontage on the exclusive waterfront — but can't legally be lived in

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Housing Wire

MARCH 8, 2024

The mailers are titled “Notice of Proposed Settlements” and they began hitting the mailboxes of home sellers in mid-February. If you sold a home and paid a commission to a real estate agent, you may be part of class action settlements,” the postcards read. What do the postcards say?

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Agents Legal Realtors Clients 421

Chicagoland Appraisal Blog

AUGUST 1, 2023

Reading a home appraisal might feel overwhelming at first, but worry not! Say goodbye to confusion and welcome a clear understanding of your home appraisal! Appraisal Cover Page This page includes essential details such as the property address, the appraiser’s name and contact information and the date of the appraisal.

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Appraisal Legal Construction Appraisal Process 148

Housing Wire

FEBRUARY 28, 2024

The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. Freedlund sold her Laguna Nigel home in late Sept. The National Association of Realtors is facing yet another copycat commission lawsuit. Filed on Tuesday in U.S. 2021 to a buyer represented by a Redfin agent.

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Realtors Legal Agents Brokerage 412

Housing Wire

NOVEMBER 9, 2023

The heightened consumer protection focus from government agencies, combined with the Department of Justice’s ongoing legal feud with the National Association of Realtors and its recent involvement in the Nosalek commission lawsuit , has many in the industry expecting that the DOJ will get involved in the Sitzer/Burnett suit, and potentially others.

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Housing Wire

APRIL 18, 2024

If Pulte, with thousands of claims, did not receive direct notice of settlement, individual home sellers with many fewer sales likely did not receive notice either,” the filing reads. Those individual home sellers may also lack legal counsel and would be less likely to learn about their class membership through the news.”

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Housing Wire

JANUARY 11, 2021

Rocket Homes Real Estate , a real estate affiliate of Rocket Companies , is being investigated by the Consumer Financial Protection Bureau (CFPB) for possibly violating the Real Estate Settlement Procedures Act (RESPA) when it charged fees for referring Quicken’s mortgage clients to real estate agents, according to officials.

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Real Estate Agent Real Estate Brokerage Law 405

Housing Wire

SEPTEMBER 25, 2023

The firm’s legal troubles began in late 2022 when it was sued by attorneys general in Florida , Massachusetts and Pennsylvania over its 40-year contracts. If the homeowner breaks the agreement or decides to terminate it early, they must pay the firm 6% of the appraised value of the home.

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Realty Real Estate Agent Legal Agents 446

Housing Wire

OCTOBER 23, 2023

The first week of the much-anticipated Sitzer/Burn e tt class action buyer broker commission antitrust lawsuit concluded with the testimony of economic and legal experts. During his testimony, Alford said that NAR’s Participation Rule “is not designed to benefit home sellers.”

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Housing Wire

SEPTEMBER 26, 2023

Before the acquisition by Mr. Cooper was completed in August, Home Point Capital agreed to settle for $5 million a class action lawsuit filed in 2021 by investors claiming the company made false and misleading statements related to its initial public offering (IPO). The settlement is pending approval in a U.S. district court in Michigan.

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Investors Lending Law Business 379

Inman

SEPTEMBER 11, 2023

The third round of layoffs in the last 12 months affects employees in 21 states, including Divvy's chief legal officer, vice president of compliance and head of design.

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Housing Wire

FEBRUARY 22, 2024

Demand for existing homes — including REO assets — outpaces the available supply. Factors like location and condition of the property and the market demand for REO and other existing home sales, impact the current landscape for REO assets. Balancing supply and demand is a delicate dance between new construction and existing properties.

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Business Marketing Real Estate Legal 392

Housing Wire

SEPTEMBER 5, 2023

According to court documents filed on Tuesday, Anywhere Real Estate and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits. .

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Real Estate Buyers Legal Realtors 417

Housing Wire

APRIL 15, 2024

Looking at second-quarter 2024, more than half of respondents (53%) believe home sales will increase by more than 5% in the next three months, while 38% believe sales will remain flat and only 10% believe that sales will be down more than 5% in their market.

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Inventory Agents Real Estate Sellers 410

Housing Wire

APRIL 19, 2024

Government attorneys deny that TCB “is entitled to any of the relief sought in the complaint,” adding that they deny “[e]ach and every allegation, as well as all inferences, arguments, and legal conclusions based on them.” Attorneys for the U.S.

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Lamacchia Realty

APRIL 4, 2023

Legislation was signed into law last Wednesday , April 29, 2023 by Governor Maura Healey to legalize remote online notarization (RON). Connecticut lawmakers passed on the vote for RON in 2022 and will be the only state in New England who hasn’t legalized remote notarization.

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Housing Wire

NOVEMBER 30, 2023

Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case. The home seller plaintiffs allege that NAR and the corporate brokerage defendants have conspired to artificially inflate agent commissions, increasing the costs shouldered by home sellers.

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Legal Sellers Realtors Law 416

Housing Wire

FEBRUARY 26, 2024

OneTrust Home Loans , a direct competitor of Newrez’s retail mortgage business, conspired with James Hecht, former Newrez executive vice president for national retail lending, to orchestrate the termination of several Newrez executives and have them join OneTrust, according to the suit filed Feb. 21 in the U.S.

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Retail Legal Lending Business 413

Cleveland Appraisal Blog

AUGUST 11, 2022

Do you fix your home up or sell it as-is? This week I welcome back guest blogger Betty White who shares some pros and cons of selling a home in its as-is condition. For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon.

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Renovations Buyers Appraisal Investing 221

Housing Wire

SEPTEMBER 15, 2022

The California-based mortgage lender announced on Wednesday it has hired Gregory Smallwood, former general counsel and executive vice president of Caliber Home Loans , to be chief legal officer and corporate secretary. The announcement comes two days after the company named Joseph Grassi as its chief risk officer.

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Legal Government Technology Mortgage 383

Housing Wire

APRIL 9, 2024

Modern-day redlining persists, and it’s costing lenders millions in legal fees. Recently, the Department of Justice (DOJ) has taken a strong stance on redlining, taking direct legal action against bad actors and thrusting the topic into the national spotlight. The people purchasing homes have changed, growing more diverse and unique.

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Modernization Lending Legal Legal Fees 373

Housing Wire

DECEMBER 6, 2023

A home purchase or sale might be the most significant financial commitment a person makes in their lifetime, and many sales are layered with complicated feelings. Legal disputes. Many difficult situations involve legal and regulatory compliance in contract disputes, zoning violations, or tenant rights. Natural disasters.

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Real Estate Legal Tenants Clients 406

Inman

JUNE 27, 2023

Tax strategist David A. Perez helps real estate investors plan ahead to minimize their tax burden. Here he shares his insights with author Bernice Ross.

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Real Estate Legal Investing Investors 148