Housing Wire

JULY 27, 2022

a subsidiary of Warren Buffet’s Berkshire Hathaway , discriminated in its marketing outreach, failed to hire minority loan officers, avoided making loans or locating offices in minority areas and sent racist internal emails. The complaint against Trident alleges that nearly all of its offices were in majority-white areas.

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Loan Officers Mortgage Law Contracts 397

Housing Wire

MARCH 28, 2024

A spokesperson at PrimeLending wrote to HousingWire that the company disagrees with the findings, intends to appeal them, and request a hearing before an Administrative Law Judge. The main strategy was to tap high-volume loan officers in targeted locations. mortgage lender in 2023.

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Human Resources Legal Fees Loan Officers Retail 394

Housing Wire

DECEMBER 11, 2023

Loan discounts — known as pricing exceptions — is when a lender makes exceptions to its established credit standards. fair lending laws has been on regulators’ radar in recent years. Whether certain borrowers – based on race, gender and age – received fewer pricing exceptions, violating U.S.

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Mortgage Lending Law Loan Officers 436

Housing Wire

AUGUST 17, 2023

According to the CFPB, Freedom provided real estate agents and brokers with incentives, including cash payments, paid subscription services, and catered parties in exchange for agent and broker referrals for mortgage loan offerings. Freedom also offered free access to parties and other exclusive events.

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Realty Mortgage Brokerage Real Estate 370

Housing Wire

FEBRUARY 6, 2024

In addition, the bank discouraged these customers from obtaining home loans, according to the complaint. Lending discrimination violates the law and harms communities and entire families for generations,” Attorney General Merrick Garland said in a statement.

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Advertising Lending Loan Officers Law 396

Housing Wire

SEPTEMBER 7, 2023

NAR’s commitment to defend ourselves in court remains unchanged and we are confident we will prevail in proving the lawfulness of the rules under attack. Loan officers may increasingly place more importance on reaching consumers directly especially when a buyer takes initiative in the homebuying process rather than relying on agents. “If

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Buyers Agents Loan Officers Real Estate 394

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. And I’m so delighted. I’ve read them.

Mortgage 400

Mortgage Loan Officers Advertising Clients 400

Housing Wire

SEPTEMBER 27, 2023

“We believe we have been fully compliant with the letter and spirit of fair lending laws, and the agreement will further strengthen our focus on an area that has always been important to us,” Edward O. “Ned” Handy III, Washington Trust chairman and CEO, said in a statement.

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Advertising Loan Officers Lending Training 411

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. In the lawsuit filed on Tuesday, the CFPB claims that in 2019, Freedom had intentionally misreported HMDA data about applicants’ race and ethnicity. Freedom had to pay a $1.75

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Brokerage Realty Real Estate Loan Officers 396

Housing Wire

MARCH 26, 2021

The lawsuit, which combined two legal actions that were designated a class action, was filed on behalf of 5,377 loan officers and other mortgage staffers employed by the bank in California from 2013 and 2019. The deal will provide $62.8 million to the class members, with the remainder going to plaintiffs attorneys.

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Legal Law Open Houses Loan Officers 466

Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As billion.

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Loan Officers Mortgage Business Retail 458

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 370

Loan Officers Retail Law Clients 370

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.

Loan Officers 421

Loan Officers Lending Open Houses Legal 421

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.

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Mortgage Training Loan Officers Lending 389

Housing Wire

AUGUST 30, 2021

“When banks fail to provide equal access to credit in communities of color, they violate our civil rights laws and they deprive people in those communities of the opportunity to build wealth,” said Kristen Clarke, assistant attorney general at DOJ’s civil rights division.

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Lending Loan Officers Advertising Development 395

Appraiserblogs

JANUARY 17, 2024

million armed robbery of a… 'Clean-Slate' Laws, Bad Policy Could Dispatch More… The idea of unlicensed individuals being hired off the streets and paid a pittance to video and photograph the interiors… Foregoing Contingencies! Few would argue that society doesn’t benefit when convicted felons are rehabilitated and re-integrated.

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Loan Officers Property Management Inspection Law 127

Housing Wire

JANUARY 6, 2023

The lawsuit was filed on December 23 in the Superior Court of the State of California for the County of Orange by about 40 former loanDepot employees, including loan officers, processors, underwriters, loss mitigation and foreclosure specialists.

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Loan Officers Law Mortgage Real Estate 448

Appraiserblogs

OCTOBER 11, 2022

Loan officers at Wells Fargo altered values in the bank’s database, so loans would qualify for so-called appraisal waivers… It feels like Ground Hog Day all over again. Dozens of loan officers at Wells Fargo altered values in the bank’s database, so loans would qualify. That was in 2016.

Appraisal 144

Appraisal Loan Officers Law Mortgage 144

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 485

Loan Officers Realtors Open Houses Law 485

Housing Wire

OCTOBER 12, 2022

The announcement comes as 40 states have permanent Remote Online Notarization (RON) laws , with seven more having temporary authorizations on the practice. “Guaranteed Rate recognizes that title and settlement agents and law firms provide critical services to consumers and customers in mortgage and real estate transactions.

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Law Real Estate Retail Agents 397

Housing Wire

MARCH 17, 2023

The violations of law were directly related to mortgage loans originated by the company, which were “rife with fraud” and used to “pad its bottom line” in a manner that deceived and defrauded investors, according to Assistant Attorney General Kenneth A.

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Loan Officers Law Investors Mortgage 358

Housing Wire

SEPTEMBER 22, 2022

Marty Green, principal with mortgage law firm Polunsky Beitel Green , described increasing affordability pressures in the housing market as “throwing cold water on what was a frenzied residential real estate market.”. According to the NAR, there were 1.28 million existing homes on the market in August and would take 3.2

Mortgage 419

Mortgage Loan Officers Buyers Inventory 419

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

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Housing Market Marketing Loan Officers Mortgage 421

Housing Wire

JULY 7, 2022

In Portland, Oregon, for example, one loan officer noted that new listings doubled in the second half of May from 800 to 1,900 new listings. Slow construction and restrictive zoning laws. Let’s start with the good news. For the first time in three years, we have seen an increase in homes on the market and price reductions.

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Inventory Marketing Mortgage Supply Chain 397

Housing Wire

FEBRUARY 26, 2024

Newrez also wants immediate and injunctive relief and damages against OneTrust for breaches of contractual and common law obligations, and for acts of misappropriation of trade secrets and unfair competition. CalCon Mutual Mortgage LLC , doing business as OneTrust Home Loans, originated $1.07

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Retail Legal Lending Business 410

Housing Wire

AUGUST 1, 2022

In July, the nonbank lender loanDepot sued rival CrossCountry for allegedly poaching dozens of high-performing loan officers from its New York branches. Guild Mortgage and Caliber Home Loans have both sued CrossCountry on similar grounds. billion in business. billion in business.

Loan Officers 381

Loan Officers Mortgage Retail Contracts 381

Housing Wire

FEBRUARY 15, 2022

Danny Yen, who masterminded a fraudulent continuing education scheme involving hundreds of loan officers, has agreed to settle with state financial regulators for $75,000.

Loan Officers 356

Loan Officers Law Tools Mortgage 356

Housing Wire

MARCH 4, 2021

TRID is still the law of the land, and nothing suggests that title and closing providers won’t continue to bear the brunt of that compliance requirement. At the lending level, a loan officer or branch that commits fair lending violations isn’t only breaking the law.

Lending 420

Lending Law Loan Officers Clients 420

Housing Wire

SEPTEMBER 15, 2020

Digital adoption has been hampered by state laws since a federal law that outlines practices for remote online notarizations does not exist. The laws related to virtual notary services are passed by individual state legislatures. The use of virtual notary services has accelerated since the onset of the pandemic, he said.

Business 481

Business Law Real Estate Investors 481

Housing Wire

MARCH 16, 2023

It’s going to push more people into private financings, such as jumbo-type financing, even on conforming loan amounts, LOs against the DTI-based LLPAs, said Baret Kechian , a loan officer at loanDepot. “If In either scenario, costs to consumers will increase.

Mortgage 382

Mortgage Finance Loan Officers Law 382

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.”

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Lending Law Legal Training 361

Housing Wire

OCTOBER 11, 2021

“Over the time period reviewed, Old National Bank has been one of the worst performers in making mortgage loans to Black home seekers in Central Indiana,” said Amy Nelson, executive director of FHCCI in a statement.

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Lending Loan Officers Law Mortgage 407

Housing Wire

JULY 16, 2021

By both companies’ admission, a major key to Success’s success will be hiring loan officers. Under federal law, real estate and mortgage transactions should be conducted separately, but that has not deterred the recent proliferation of joint ventures. Presented by: SimpleNexus. The company now has a $4.2

Mortgage 404

Mortgage Lending Brokerage Agents 404

Housing Wire

MAY 4, 2022

Rohit Chopra, director of the Consumer Financial Protection Bureau , assured lenders in a statement that the act of collecting the data “does not violate the Equal Credit Opportunity Act” or regulations based around implementing that law. But what the federal government will do with the data after it is collected is less clear.

Legal 372

Legal Lending Government Loan Officers 372

Housing Wire

MARCH 11, 2022

Because Fairway gets most of its reverse mortgage business from referral partnerships, extending to the purchase market made sense for Fairway because of the partnerships that its loan officer corps has spent so much time developing, according to Hultquist. Harlan Accola. Now, we can’t do it every time.

Business 356

Business Real Estate Agent Real Estate Loan Officers 356

Housing Wire

DECEMBER 27, 2022

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. Loan officer headcount in the industry could decline by 45% from last year’s estimated 353,120 LOs nationwide, which expanded by 34% from 2019, according to projections from Stratmor Group. over asking price. High octane stuff.

Housing Market 518

Housing Market Marketing Real Estate Agent Real Estate 518

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.”.

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Housing Market Marketing Loan Officers Buyers 306