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 lender and LO can make or break the transaction.”

Buyers 382

Buyers Agents Loan Officers Real Estate 382

Housing Wire

JUNE 30, 2021

The Consumer Financial Protection Bureau (CFPB) is tightening the screws on mortgage servicers and originators that violate consumer protection laws. The lender’s offices were concentrated in white neighborhoods, and nearly all of its loan officers were white. Presented by: iEmergent.

Loan Officers 421

Loan Officers Lending Open Houses Legal 421

Housing Wire

OCTOBER 10, 2023

For example, managers allegedly asked loan officers to select non-Hispanic white options regardless of whether that was accurate or not. Boca Raton, Florida-based Freedom reported data on over 700,000 loan applications in 2020 and originated nearly 400,000 HMDA-reportable loans worth almost $100 billion.

Brokerage 389

Brokerage Realty Real Estate Loan Officers 389

Housing Wire

JULY 16, 2021

Glenn Sanford’s eXp World Holdings announced Thursday a mortgage joint venture with Glenn Stearns’s Kind Lending , called Success Lending. The company will be headquartered in Santa Ana, California, Stearns said, home of Kind Lending. The second big mortgage joint venture announcement this week is a meeting of the Glenns.

Mortgage 389

Mortgage Lending Brokerage Agents 389

Housing Wire

JUNE 2, 2022

NCRC testers made inquiries about mortgage financing with a loan officer at Movement Mortgage, Dave Skow, on two occasions, four months apart, during 2021. Demetria McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity, said it is “imperative” that lenders comply with fair housing laws.

Mortgage 371

Mortgage Training Loan Officers Lending 371

Housing Wire

JANUARY 24, 2023

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices. But nothing is risk-free.”

Lending 341

Lending Law Legal Training 341

Housing Wire

MAY 4, 2022

The Federal Housing Finance Agency will now require lenders to provide data on borrowers’ language preferences in order to sell loans to Fannie Mae and Freddie Mac , a move which could invite fair lending lawsuits. The disclosure requirements could potentially be another data point for fair lending lawsuits.

Legal 350

Legal Lending Government Loan Officers 350

Housing Wire

OCTOBER 12, 2022

Stavvy , a fintech company at the intersection of lending and real estate, on Wednesday announced partnering with Guaranteed Rate , one of America’s largest nonbanks. The announcement comes as 40 states have permanent Remote Online Notarization (RON) laws , with seven more having temporary authorizations on the practice.

Law 391

Law Real Estate Retail Agents 391

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.

Retail 388

Retail Legal Lending Business 388

Housing Wire

MARCH 4, 2021

While mortgage lenders would do well to heed the statements from the Consumer Financial Protection Bureau that it will be carefully watching fair lending and servicing issues , especially with the likelihood of a default spike, title and settlement firms will be keeping an eye on more than just the CFPB.

Lending 413

Lending Law Loan Officers Clients 413

Housing Wire

OCTOBER 11, 2021

The fair housing organization argued that Old National should have “ been especially attuned to the country’s fair lending laws and the need to make loans available in communities of color due to its 2018 purchase of KleinBank.”

Lending 396

Lending Loan Officers Law Mortgage 396

Housing Wire

JULY 1, 2021

On Wednesday, the Consumer Financial Protection Bureau (CFPB) said it will be tightening the screws on mortgage servicers and originators that violate consumer protection laws — including redlining, the racist housing policy that effectively blocked many Black families from obtaining mortgages throughout the middle of the 20th century.

Loan Officers 484

Loan Officers Realtors Open Houses Law 484

Housing Wire

APRIL 27, 2021

The controversial ultimatum United Wholesale Mortgage (UWM) issued to brokers in March constituted a violation of the Sherman Act and a series of anti-competition laws in the state of Florida, a St. UWM is stripping my freedom to be the best loan officer for my clients.”. That was never something I considered nor wanted to do.

Loan Officers 369

Loan Officers Retail Law Clients 369

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. There’s still demand for homes, loan officers told HousingWire. “I

Housing Market 421

Housing Market Marketing Loan Officers Mortgage 421

Housing Wire

JULY 28, 2022

As the Federal Reserve announced yet another 75 basis point interest rate hike Wednesday, loan officers and lending executives — already well aware of the news — were looking ahead, questioning whether mortgage rates will spike or dip in the aftermath. I think it’s already priced in the market.”.

Housing Market 304

Housing Market Marketing Loan Officers Buyers 304

Housing Wire

SEPTEMBER 22, 2020

Do you mandate training (regular, continuous and updated) on the basics like Dodd-Frank, Fair Lending and the most aggressive state-level rules and regulations? Do you have qualified trainers who are constantly abreast of changes in the law? It doesn’t matter if it’s a third party or in-house personnel. It’s tedious.

Training 333

Training Lending Loan Officers Technology 333

Housing Wire

JUNE 15, 2022

Even if more borrowers opted for ARMs in a rising rate environment, stricter underwriting policies for ARMs and laws that keep lenders in check will prevent borrowers from being trapped in loans they could not afford, as occurred in the mid 2000s, said Keith Gumbinger, vice president at HSH Associates. in 2005, the MBA said.

Mortgage 354

Mortgage Bracketing Loan Officers Investors 354

Housing Wire

NOVEMBER 10, 2020

So when that happens, you don’t originate, you don’t lend at par for something at 88. Self-employed borrowers take advantage of the tax laws,” said Dodson, who runs Mortgage Capital Advisors. For eight years they were not able to get a mortgage loan – they could have an 800 credit score, $2 million in the bank.

Business 431

Business Mortgage Investors Loan Officers 431

Housing Wire

DECEMBER 11, 2023

Not surprisingly, affordability is inextricably linked to fair housing , as fair housing (and lending) for all is foundational to affordability for all. According to the CFPB, hundreds of loan officers at BofA failed to ask mortgage applicants demographic questions and falsely reported that they had chosen not to respond.”

Real Estate Agent 422

Real Estate Agent Real Estate Agents Lending 422

Housing Wire

OCTOBER 27, 2020

Loan officers receive title complexity decisions within seconds at the point of sale – so they can create a runway for more straightforward orders and focus resources on more complicated ones. These time-savings are critical in today’s lending environment. Lenders should also consider the strength of their providers’ technology.

Clients 337

Clients Technology Insurance Loan Officers 337

Housing Wire

FEBRUARY 29, 2024

Mortgage lenders are offering discounts on loan pricing to capture borrowers. Mike, a North Carolina-based loan officer, had two loans closing in mid-January. The contrast between the deals was striking. “I have a loan closing today for first-time homebuyers who didn’t really press me on pricing,” he said.

Loan Officers 378

Loan Officers Mortgage Lending Real Estate Agent 378

Housing Wire

FEBRUARY 10, 2022

If you’re a mortgage loan officer with a decade of experience in the industry, you have likely spent over 80 hours taking continuing education courses. Tricky situations can arise in mortgage lending, especially when navigating less-common products or originating non-agency loans.

Loan Officers 352

Loan Officers Law Training Lending 352

Housing Wire

FEBRUARY 4, 2022

It claimed that UWM “willfully violated numerous federal and Florida laws and regulations,” including the Sherman Antitrust Act, the Florida Antitrust Act, the Tortious Interference with Business Relationships and Florida’s Deceptive and Unfair Trade Practices Act.

Legal 370

Legal Contracts Business Mortgage 370

Housing Wire

OCTOBER 1, 2022

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. Federal officials said similar banks generated five times as many loan applications from prospective Black and Latino home buyers as Lakeland.

Law 383

Law Loan Officers Lending Advertising 383

Housing Wire

JUNE 2, 2023

Ishbia: Game On, as I talked about before, was an investment in the broker community to help more loan officers join the broker community and it helped the brokers who needed more loans in the toughest time in the market, which was the fourth quarter. What is your pricing strategy looking ahead?

Retail 351

Retail Inventory Mortgage Loan Officers 351

Housing Wire

NOVEMBER 28, 2023

The Consumer Financial Protection Bureau (CFPB) imposed a $12 million penalty on Bank of America (BofA) for violating federal laws by submitting false mortgage lending information for about four years, it announced on Monday. A top-20 U.S. A top-20 U.S. Overall, the bank posted a net income of $7.8 billion in the third quarter of 2023.

Law 422

Law Mortgage Loan Officers Lending 422

Housing Wire

APRIL 19, 2022

The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Loan officers working for depository banks are not bound by the same requirements. HMDA, Fair Lending etc.,”

Training 345

Training Loan Officers Lending Mortgage 345

Appraiserblogs

MARCH 1, 2021

Here’s the law from New York state: 19 NYCRR § 1107.2. With increased public attention on the… The post Blaming, Punishing Appraisers in State Laws appeared on Appraisers Blogs. is amended as follows: Section 1107.2. A bill to amend Illinois’ appraiser and real estate licensing acts to address discrimination.

Law 110

Law Appraisal Loan Officers Real Estate 110

Miller Samuel

FEBRUARY 12, 2019

The change in tax laws in 2018 and a several-month stretch that saw mortgage rates rise before recently dropping close to previous levels had both buyers and sellers re-calibrating what value is. Miller said there are more buyers today compared to 2009, but those buyers are “very jaded about what value is.” That process can take time.

Marketing 221

Marketing Real Estate Appraisal Sellers 221

AmeriMac

SEPTEMBER 1, 2021

In 2009, Freddie Mac and Fannie Mae, government housing lending institutions, the Federal Housing Finance Agency (FHFA) and the New York Attorney General got together to create the Home Valuation Code of Conduct (HVCC). Why AMCs Are Important Under Federal Law. AMCs as a concept were developed in the 1970s.

Appraisal 36

Appraisal Valuation Law Lending 36

Housing Wire

MAY 6, 2024

Largely hidden from view and misperceived by some to be on the lower end of the hierarchy of service providers, the position seemingly lacked the luster of the real estate agent or the panache of the loan officer. During the housing crisis of 2008, the title industry suddenly emerged from obscurity into full view.

Real Estate Agent 307

Real Estate Agent Real Estate Project Management Agents 307

Housing Wire

JUNE 2, 2023

District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. According to a complaint filed by DOJ in the U.S. It is simply the right thing to do.”

Lending 274

Lending Advertising Design Loan Officers 274

Housing Wire

JUNE 18, 2021

This article first appeared in the June 18th newsletter Lending Life. On Thursday, President Joe Biden signed a bill into law, declaring June 19th, or Juneteenth, a federal holiday. One Orlando, Florida-based loan officer said she doesn’t mind the new Juneteenth holiday, but it did impact closings for several loans.

Loan Officers 404

Loan Officers Law Lending Insurance 404

Birmingham Appraisal

SEPTEMBER 15, 2022

A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. This form is what is used by most lending institutions for residential properties. What is a Mortgage Appraisal?

Appraisal 91

Appraisal Inspection Appraisal Process Real Estate Agent 91

AmeriMac

MARCH 15, 2024

The HVCC laid the foundation for subsequent regulatory changes, including the incorporation of similar appraiser guidelines into the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Truth in Lending Act. Regulatory Compliance: AMCs are well-versed in federal laws and regulations governing appraisals.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

PennyMac

DECEMBER 29, 2020

In other words, they need to know your home is worth an amount equal to (or more than) the amount of money they are lending you. In some cases the lender will determine the value of your house by ordering an appraisal as part of the homebuying process — and again when you look to refinance into a new loan. Refinance Fearlessly.

Real Estate 36

Real Estate Property Taxes Appraisal Loan Officers 36

Housing Wire

DECEMBER 31, 2021

Lenders will have to “manage expenses and improve customer service in a purchase market,” Tom Wind, executive vice president of consumer lending with U.S. One of the ways that lenders “manage expenses” has historically been by laying off processors and loan officers. Bank Home Mortgage , said at the MBA Annual convention.

Marketing 425

Marketing Law Government Mortgage 425