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

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. million mortgage fraud settlement with the Securities and Exchange Commission to his name, seems to be back in the mortgage business. Shocked employees didn’t receive their last paychecks.

Mortgage 395

Mortgage Investors Legal Loan Officers 395

Housing Wire

AUGUST 25, 2023

filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. AmeriFirst told Housingwire that the bankruptcy action has no impact on closed mortgages and the loans in the pipeline will be closed and funded. Retail lender AmeriFirst Financial Inc.

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

NOVEMBER 7, 2022

Executives at the mortgage lender announced their decision in a letter sent on Wednesday to business partners and employees, which was reviewed by HousingWire. According to the document, Athas is winding down, effective immediately, but will honor loans in its pipeline that it’s legally obligated to fund. and Sprout Mortgage.

Lending 427

Lending Investors Business Mortgage 427

Housing Wire

FEBRUARY 13, 2023

Equity Prime Mortgage (EPM) filed a counterclaim against Jesse Iwuji Motorsports (JIM) last week for allegedly breaching a sponsorship contract. The Atlanta-based mortgage lender is accusing the stock car racing team of breaking the agreement by changing the driver of the car starting in May 2022.

Legal 378

Legal Contracts Lending Loan Officers 378

Housing Wire

MAY 17, 2022

Private equity firm Narrow Gauge Capital (NGC) acquired Inco-Check, LLC , a provider of quality control audit mortgage software and fraud prevention services. Founded in 2000, Irvine, California-based Inco-Check leverages its proprietary web-based platform to support GSE, regulatory agency, and investor requirements.

Logistics 370

Logistics Legal Investors Technology 370

Housing Wire

JULY 19, 2022

Fannie Mae and Freddie Mac ’s regulator imagines a future where, perhaps through artificial intelligence and machine learning, errors in mortgages are identified in real time before a loan is closed. Although investors have poured an increasing amount of money into fintechs — $1.7 But that scenario is a long way off.

Mortgage 383

Mortgage Finance Technology Legal 383

Housing Wire

FEBRUARY 4, 2021

Stone Point and Insight Partners are highly respected investors who recognize the value and potential of CoreLogic’s digital content, solutions and market-leading platforms that power the housing economy,” CoreLogic President and CEO Frank Martell said. Strategies lenders should adopt from direct to consumer lending. Sign up here.

Legal 454

Legal Investors Lending Finance 454

Housing Wire

APRIL 22, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. ” In 2021, Blend processed more than 1.8

Mortgage 395

Mortgage Marketing Human Resources Clients 395

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 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

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.

Loan Officers 407

Loan Officers Human Resources Law Mortgage 407

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

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

SEPTEMBER 9, 2020

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021.

Mortgage 433

Mortgage Lending Investors Legal 433

Housing Wire

NOVEMBER 17, 2023

The deal was made public four months ago and created a dispute among investors to take the firm, leading Rithm to increase its price by 14% compared to the original bid. The transaction also created legal battles with Sculptor’s shareholders and founders, including Daniel S. Och, but the parties settled the cases in court.

Real Estate 407

Real Estate Investors Investing Legal 407

Housing Wire

OCTOBER 18, 2022

A recent lawsuit claims Sprout Mortgage left its warehouse lender FirstFunding holding over $220 million of its debt when the mortgage lender abruptly closed on July 6. Sprout was founded in 2009 by industry veteran Michael Strauss and became “one of the fastest growing non-QM lenders in the country,” according to the lawsuit.

Contracts 383

Contracts Law Legal Mortgage 383

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. According to Kris Kully, an attorney at Mayer Brown , the notice will affect mortgage lenders because many of the underwriting systems lenders use to measure default risk contain proprietary algorithms, or “black-box models.”

Law 417

Law Legal Valuation Government 417

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.

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. Financial services law firm Garris Horn announced that mortgage attorney Melanie Feliciano has joined as a partner.

Technology 330

Technology Law Lending Legal 330

Housing Wire

JANUARY 25, 2024

California-headquartered LoanSnap was hit with a temporary order to cease and desist from Connecticut’s Department of Banking for “systemic” unlicensed mortgage loan origination activity. Connecticut Banking Commissioner Jorge Perez alleged that LoanSnap violated the Truth in Lending Act (TILA) and Fair Credit Reporting Act (FCRA).

Loan Officers 406

Loan Officers Mortgage Finance Lending 406

Housing Wire

OCTOBER 2, 2020

There are a few lessons to remember here: Nonbanks did not create the unsustainable mortgage market. 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.

Government 523

Government Investors Lending Mortgage 523

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

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

JANUARY 5, 2023

is the latest former business partner to sue Sprout Mortgage in a suit filed six months after the mortgage lender abruptly closed its doors. Loan America, a full-service mortgage company, relies on warehouse loans or lines of credit for loan funding, similar to many other non-QM lenders. California-based Loan America, Inc.

Insurance 427

Insurance Loan Officers Mortgage Business 427

Housing Wire

JULY 28, 2023

million settlement with Sprout Mortgage for unpaid wages goes through. million on mortgage purchase agreements. 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

Housing Wire

NOVEMBER 23, 2022

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. Nonbanks have more than 60% market share of mortgage industry production — and they are more likely than banks to move quickly to reduce capacity.

Marketing 383

Marketing Loan Officers Business Mortgage 383

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

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. You may also have to prove that you have enough income to cover the mortgage on all properties that you own.

Investing 332

Investing Renovations Landlords Real Estate 332

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. Servicers, lenders and investors dealt with a tsunami of 7.7

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

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?

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

Eppraisal

DECEMBER 28, 2021

Application: Because You Say So When a mortgage applicant sits down with a loan officer to formally request a home loan, the information conveyed is received in good faith, i.e. the lender's representative gives the prospective borrower the benefit of the doubt as far as representations go regarding income, employment, assets and home value.

Mortgage 68

Mortgage Home Value Insurance Loan Officers 68

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

Quicken Loans

APRIL 14, 2021

The majority of loans include interest as payment to the lender for their services, and mortgages are no exception. Unless you can pay entirely with cash, mortgage interest is an expense you should expect with homeownership. The same concept applies to compound interest on a debt you owe, such as a mortgage.

Mortgage 47

Mortgage Investing Lending Investors 47