Housing Wire

NOVEMBER 7, 2022

According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. Athas Capital has been credited for “pioneering the re-birth of ‘sane’ subprime lending,” according to the company website. and Sprout Mortgage.

Lending 427

Lending Investors Business Mortgage 427

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. New Wave said it requested bids from multiple investors from Jan. 20, 2022, to Feb. Presented by: Polly.

Mortgage 383

Mortgage Legal Lending Investors 383

Housing Wire

JULY 26, 2022

California-based wholesale/correspondent lender New Wave Lending Group filed a lawsuit against Sprout Mortgage , accusing the company of defaulting on a pool of $32 million in loans it agreed to purchase. New Wave said it requested bids from multiple investors from Jan. 20, 2022, to Feb. Presented by: Polly.

Mortgage 370

Mortgage Legal Lending Investors 370

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.

Mortgage 370

Mortgage Retail Loan Officers Lending 370

Housing Wire

JULY 14, 2022

Non-QM lender Kiavi , which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday. Because we are in the hard money space, we don’t have a lot of investors willing to buy our assets because of the rate hikes, is what our CEO told us.”.

Human Resources 395

Human Resources Construction Legal Investors 395

Housing Wire

MAY 17, 2022

Founded in 2000, Irvine, California-based Inco-Check leverages its proprietary web-based platform to support GSE, regulatory agency, and investor requirements. With NGC’s acquisition of Inco-Check, the company aims to enhance loan quality and prevent fraud in a competitive mortgage and consumer lending market, Inco-Check said.

Logistics 370

Logistics Legal Investors Technology 370

Housing Wire

JUNE 28, 2023

Ultimately, the lender packages the loan to sell to an investor, who doesn’t trust any of the data in the file, and the process starts all over again, Graham noted. If AI can confirm for all parties – including the lender, borrower and investor – that the data is correct, the cost to originate loans will go down, according to Graham.

Mortgage 395

Mortgage Investors Legal Lending 395

Housing Wire

FEBRUARY 13, 2023

The stock car team is also accusing EPM of breaching the contract by failing to make more than $4 million in sponsorship payments following a “margin call” from its investors. Darren Heitner, JIM’s attorney and founder at Heitner Legal , P.L.L.C, It’s mostly known for wholesale lending.

Legal 379

Legal Contracts Lending Loan Officers 379

Boston Appraisal

JULY 27, 2023

As an investor or lender, you need accurate valuations of residential properties to make informed investment and lending decisions. Focus instead on features that affect utility, desirability and marketability – such as functional obsolescence, legal restrictions, environmental issues or external neighborhood factors.

Investors 78

Investors Valuation Architecture Appraisal 78

Housing Wire

MAY 24, 2021

We are adding resources to engineering, security and trust, product, industry relations, legal, compliance and more. Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators. Presented by: Sagent Lending Technologies.

Technology 417

Technology Lending Investors Modernization 417

Housing Wire

MARCH 22, 2021

John Hedlund: Non-delegated lending can serve multiple purposes for different types of lenders. For mortgage brokers looking to make the jump to mortgage banking, non-delegated lending is the perfect way to build the resume they need on their journey to a fully delegated, agency-approved seller and servicer.

Business 492

Business Lending Investors Sellers 492

Housing Wire

JANUARY 19, 2023

The Smart Rate website mentions that the mortgage lender offers purchase and refinancings, jumbo, FHA, adjustable, bank statement and investors loans. We are no closer to being paid and he had the capital to open up Smart Rate Mortgage,” said a former employee who requested anonymity due to an ongoing legal case.

Mortgage 395

Mortgage Investors Legal Loan Officers 395

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. Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer.

Renovations 505

Renovations Development Investors Legal 505

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. In his own statement Thursday, Chopra said companies have “legal responsibilities when they let a black-box model make lending decisions.”. The CFPB has raised concerns in the past that algorithmic models perpetuate discriminatory mortgage lending practices.

Law 417

Law Legal Valuation Government 417

Housing Wire

FEBRUARY 2, 2024

The remainder transitioned to CrossCountry Mortgage , Synergy One Lending , Capital Bank , First Home Mortgage Corp. and NFM Lending. Commissions, however, are to be disbursed within a “reasonable timeframe following the expiration of the investor recapture period published on the Company’s intranet,“ the letter read.

Loan Officers 407

Loan Officers Human Resources Law Mortgage 407

Housing Wire

OCTOBER 2, 2020

Nonbanks are intermediaries that originate loans to the terms of the ultimate investor. These investors included the GSEs, the Ginnie Mae programs, larger bank portfolios, and Wall Street firms. Nonbanks do not set the rules of lending. They sell all of their loans to investors.

Government 523

Government Investors Lending Mortgage 523

Housing Wire

OCTOBER 18, 2022

A sharp rise in mortgage rates this year saddled Sprout with tens of millions of dollars in loans it couldn’t sell to investors in the secondary market at par and, consequently, the company was not able to pay its business partners and employees. Since its closing, the company has been the target of several lawsuits.

Contracts 383

Contracts Law Legal Mortgage 383

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.

Lending 395

Lending Legal Clients Development 395

Housing Wire

AUGUST 7, 2020

Suazo has over 15 years of leadership experience in the mortgage lending space with firms including Stearns Lending , Bank of America , Carrington Holding Company and CloudVirga. Tech company Azimuth GRC has hired Chris Phillips as its chief technology officer and investor.

Technology 354

Technology Law Lending Legal 354

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. It’s certainly not the solution Black homeowners need now.

Real Estate 427

Real Estate Investors Business Lending 427

Housing Wire

JUNE 27, 2023

Bush and a vice president at Goldman Sachs before starting at the lender in 2021, listed several alleged violations related to lending practices. Investors looking to support low-income families would not purchase the lender’s loans if they knew they were provided to wealthy individuals or celebrities, the lawsuit states.

Investors 370

Investors Law Insurance Lending 370

Housing Wire

AUGUST 25, 2023

Through its origination business, AmeriFirst kept its business purpose lending (BPL), providing four products, including debt-service coverage ratio (DSCR) loans, bridge financing, investor construction loans and residential transition loans (RTLs).

Mortgage 370

Mortgage Retail Business Lending 370

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. Through Guild Holdings, the lender’s management and the private equity investors planned to issue 8.5

Mortgage 487

Mortgage Government Retail Lending 487

Housing Wire

JANUARY 25, 2024

Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA). Also participating in the funding included prior investors Baseline Ventures , Richard Branson’s Virgin Group , and MANTIS , according to the company’s previous release.

Loan Officers 406

Loan Officers Mortgage Finance Lending 406

Housing Wire

JULY 19, 2022

Although investors have poured an increasing amount of money into fintechs — $1.7 Those include inadequate regulation of the fintech sector, cybersecurity vulnerabilities due to “complex, poorly understood, or poorly managed innovations,” consumer privacy threats, fair lending violations, and legal, compliance and reputational risk.

Mortgage 383

Mortgage Finance Technology Legal 383

Housing Wire

APRIL 22, 2022

For investors, a warning: it means that profitability will take some time to achieve. ” Blend is reducing general and administrative expenses in human resources, finance, and legal, but decided not to cut costs related to engineering and product development. Over time, we expect to diversify our revenue streams.”

Mortgage 395

Mortgage Marketing Human Resources Clients 395

Housing Wire

SEPTEMBER 9, 2020

This outcome would substantially impair the benefits of QM status to lenders and investors, introducing significant legal uncertainty into a regime meant to provide clear eligibility parameters. ” The MBA also called for the Bureau to remove or amend the special rule for ARMs.

Mortgage 433

Mortgage Lending Investors Legal 433

Housing Wire

JANUARY 5, 2023

Typically, the company does not hold such loans for more than two weeks, instead selling them to a group of investors – including Sprout Mortgage. ” Sprout has recently been sued by former employees , vendors and business partners, such as Banc of California , New Wave Lending Group , Merchants Bank of Indiana and FirstFunding.

Insurance 427

Insurance Loan Officers Mortgage Business 427

Housing Wire

NOVEMBER 23, 2022

While it is true that many nonbanks entered this downturn with a large war chest of cash and capital, this is more than offset by the impact of warehouse and investor covenants, which are causing lenders to move expeditiously to cut costs,” Jim Cameron, Stratmor Group ’s senior partner, wrote in a report published this week. “In

Marketing 383

Marketing Loan Officers Business Mortgage 383

Cleveland Appraisal Blog

AUGUST 25, 2022

Today, Cleveland Appraisal Blog shares a few tips for first-time investors. Keep in mind that investment homebuyers will be required to put down a minimum of 15% to secure financing, according to Lending Tree. It starts with managing your budget but also includes understanding which upgrades make a space more desirable. Questions?

Investing 332

Investing Renovations Landlords Real Estate 332

Housing Wire

JULY 28, 2023

It follows a request from the shuttered lender to halt the agreement due to an involuntary bankruptcy petition filed by three creditors. New Wave Lending Group , JMJ Financial Group and EF Mortgage filed on July 5 an involuntary petition against Sprout under Chapter 7 of the Bankruptcy Code in a New York court, claiming the lender owes $1.3

Mortgage 369

Mortgage Insurance Business Lending 369

The Robert Weiler Company

JANUARY 2, 2021

Learn how you, the real estate investor, can avoid the bank and make an agreement directly with the seller. The contract is essentially a seller-financed lending agreement for the purchase of a property, which requires the buyer to pay monthly installments until a balloon payment is due. What Is a Land Contract? Obligation to buy.

Contracts 143

Contracts Tenants Legal Sellers 143

Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. Half my work is non-lending work, and that’s been a blessing. So what can we do?

Business 393

Business Appraisal Real Estate Agent Clients 393

Housing Wire

FEBRUARY 8, 2022

Servicers, lenders and investors dealt with a tsunami of 7.7 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. of the U.S. population. An army of door-knockers.

Law 370

Law Mortgage Legal Finance 370

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?

Appraisal 74

Appraisal Training Lending Land Management 74

McKissock

NOVEMBER 7, 2021

I understand the legal process. Also, I had a bunch of investor friends who kept complaining about how they couldn’t find good deals on houses to buy. I’m also in a couple of “mastermind” groups on Facebook with other real estate investors and we share different techniques or marketing strategies.

Real Estate 82

Real Estate Investing Real Estate Agent Investors 82

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).

Real Estate 529

Real Estate Mortgage Property Taxes Law 529