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DOL accuses PrimeLending of violating whistleblower provisions

Housing Wire

Department of Labor announced on Wednesday that they found that PrimeLending , a Texas-based retail mortgage bank, violated whistleblower provisions in a case involving two employees who raised consumer fraud concerns. mortgage lender in 2023. Investigators at the U.S. The company’s estimated origination volume was $8.24

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The opportunity cost of modern-day redlining

Housing Wire

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 future of the mortgage industry is increasingly diverse.

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Going to Extremes

Appraisal Buzz

In some markets, the answer is increasingly yes. In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. And in some condominium markets in Florida, home values are taking a hit as insurance premiums skyrocket.

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Magistrate judge recommends $46M in restitution from former Live Well CEO

Housing Wire

Prosecutors for the government initially argued that he should owe $69 million to the companies that lent to Live Well and the defunct lender’s estate based on — what was determined in court to be — inflated valuations of interest-only bonds backed by Home Equity Conversion Mortgages (HECMs).

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Two Southern banks complete mortgage eNote transfer

Housing Wire

eNotes contain the same information as a traditional mortgage note – on paper – but they are created, signed and stored digitally. ” Navigating Closing Struggles in 2021’s Purchase Market. Full e-Closings reduce the use of paper, legal fees, mailing and courier costs.

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ALTA: Protecting property rights with title insurance

Housing Wire

For title insurance, a homebuyer only needs to pay a one-time fee at closing, which is typically issued in the amount of the real estate purchase price. For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. Consumers can shop around and should compare policies.

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Title insurers reckon with attorney opinion letters

Housing Wire

Now, thanks to United Wholesale Mortgage (UWM) CEO Mat Ishbia’s recent announcement that his company is hiring attorneys to review title and closing documents, AOLs and the risks associated with them, have been a hot topic at this year’s ALTA One conference.

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