Housing Wire

NOVEMBER 17, 2023

The transition of three veteran sales executives from South Carolina-based lender Movement Mortgage to its California competitor Summit Funding led to a legal battle over poaching. Increasing the tone of the legal battle, Pennington filed a counterclaim against Movement requesting about $9.8 million in unpaid compensation.

Loan Officers 407

Loan Officers Legal Retail Finance 407

Housing Wire

FEBRUARY 16, 2022

HousingWire recently sat down with Steve Meirink, executive vice president and general manager, Compliance Solutions, Wolters Kluwer’s Governance, Risk and Compliance Division, to discuss the impact of digital technology on mortgage and the future of digital lending in an era of accelerated innovation and digital transformation.

Lending 383

Lending Technology Tools Loan Officers 383

Housing Wire

APRIL 9, 2024

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. Last October, Ameris Bank had to pay $9 million to settle a redlining case.

Modernization 414

Modernization Lending Legal Legal Fees 414

Housing Wire

SEPTEMBER 15, 2023

Guaranteed Rate Affinity has initiated legal action against former loan originators, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company. Gifoli served as a loan officer from May 2021 to October 2021. He declined to comment on the lawsuit.

Loan Officers 410

Loan Officers Legal Real Estate Lending 410

Housing Wire

MARCH 6, 2023

A former employee is suing the companies, alleging they “abruptly terminated hundreds of its employees” without giving legally required 60-day advance notice as required by the Worker Adjustment and Retraining Notification Act ( WARN Act ). HousingWire first reported on the Celebrity’s several layoff rounds on Feb. Volumes reached $5.9

Loan Officers 431

Loan Officers Retail Legal Lending 431

Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. The remainder transitioned to CrossCountry Mortgage , Synergy One Lending , Capital Bank , First Home Mortgage Corp. and NFM Lending. Loan officers earn their income when they fund loans.

Loan Officers 410

Loan Officers Human Resources Law Mortgage 410

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). But the crux of the commissioner’s findings focuses on unlicensed origination activities.

Loan Officers 407

Loan Officers Mortgage Finance Lending 407

Housing Wire

JUNE 6, 2023

Rocket Mortgage is looking to hire local loan officers at a time when mortgage rates are high and the industry remains heavily reliant on the purchase market. According to Rocket’s job post, the loan officer position is remote and requires a minimum of three years of experience in mortgage loan origination.

Loan Officers 365

Loan Officers Mortgage Retail Real Estate Agent 365

Housing Wire

APRIL 20, 2023

Denver-based brokerage franchise Motto Mortgage , owned by RE/MAX , has accused broker shop UMortgage of “tortious interference” in its contract with a former franchisee called TRB Solutions, whose controlling member was Breon Price, the top-producing loan officer. According to a lawsuit filed in March in a U.S

Contracts 384

Contracts Loan Officers Legal Best Value 384

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 The lender and LO can make or break the transaction.”

Buyers 397

Buyers Agents Loan Officers Real Estate 397

Housing Wire

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) on Tuesday filed a lawsuit against Freedom Mortgage Corporation for allegedly violating the Home Mortgage Disclosure Act (HMDA) and a 2019 consent order by submitting legally required mortgage loan data that “was riddled with errors.” Freedom had to pay a $1.75

Brokerage 397

Brokerage Realty Real Estate Loan Officers 397

Housing Wire

FEBRUARY 13, 2023

Darren Heitner, JIM’s attorney and founder at Heitner Legal , P.L.L.C, EPM, which has licenses in 50 states and provides an array of lending products, reached $1 billion in origination over the last 12 months, according to mortgage recruiting platform Modex. It’s mostly known for wholesale lending.

Legal 362

Legal Contracts Lending Loan Officers 362

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

MARCH 30, 2023

A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor and Workforce Development shows the job cuts will affect mortgage loan officers, final “docs” associates, desktop support professionals and business solutions architects, among others. “As

Retail 410

Retail Loan Officers Legal Technology 410

Housing Wire

JUNE 30, 2021

The watchdog agency found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. 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

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 421

Retail Legal Lending Business 421

Housing Wire

AUGUST 29, 2023

Ozment was hired in April 2022 and was given access to Lower’s confidential information and trade secrets, including customer identification, financial information and lending objectives. He left the lender in a “sudden coordinated departure in November 2022,” Lower alleged in its suit.

Loan Officers 370

Loan Officers Lending Business Mortgage 370

Housing Wire

FEBRUARY 1, 2023

While mortgage attorneys said the “Control your Price” initiative doesn’t appear to clearly cross the legal line, they raised compliance concerns — including rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts.

Construction 397

Construction Real Estate Agent Loan Officers Legal 397

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.

Lending 370

Lending Law Legal Training 370

Housing Wire

NOVEMBER 23, 2022

Over the last year, it has also sold off large chunks of the business – including sub-servicing with ServiceMac and delegated correspondent to Planet Home Lending – which accounts for several thousand workers transitioning to new firms. Since relaunching operations, Interfirst also hired teachers and first responders to be loan officers.

Marketing 384

Marketing Loan Officers Business Mortgage 384

Housing Wire

JANUARY 19, 2023

The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex. 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 397

Mortgage Investors Legal Loan Officers 397

Housing Wire

JUNE 29, 2023

That’s not the Orange County, California-based lender’s only poaching legal battle. Since April 2022, the company filed three lawsuits against CrossCountry Mortgage in New York , California and Illinois. In early June, a judge in the N.Y.

Retail 420

Retail Contracts Legal Business 420

Housing Wire

JANUARY 5, 2023

Tech mortgage platform Modex shows Loan America originated $95 million in mortgage loans in the last 12 months, going from about $14 million in February to $4 million in November. The company has one branch and 11 active loan officers.

Insurance 431

Insurance Loan Officers Mortgage Business 431

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

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. Seely joined Guild in 2021 when the California-based lender paid $196.7 million to acquire Residential Mortgage Services Holdings (RMS), a Maine-headquartered retail lender of which Seely was president and CEO.

Retail 421

Retail Contracts Loan Officers Mortgage 421

Housing Wire

FEBRUARY 4, 2022

United Wholesale Mortgage (UWM) is making good on its threat to take legal action against partnering broker shops that also send business to Rocket Mortgage and Fairway Independent Mortgage , a violation of the wholesaler’s controversial broker agreement. million for repeatedly violating the terms of the agreement.

Legal 370

Legal Contracts Business Mortgage 370

Eppraisal

DECEMBER 28, 2021

While applicants can feel uneasy about a bank looking so closely at their financial lives, they can nonetheless take comfort from the fact that the lender's thoroughness enables it to make loans in the first place. Underwriting: Because It Has to Make Sense Underwriting sits at the heart of mortgage lending.

Mortgage 68

Mortgage Home Value Insurance Loan Officers 68

Housing Wire

APRIL 23, 2024

Chamber of Commerce has vowed to take legal action against the FTC, according to a statement calling the ban “an unlawful power grab.” Most real estate agents are freelance employees, but some mortgage loan officers, account executives and marketing personnel are bound by such agreements. labor force.

Real Estate Agent 441

Real Estate Agent Loan Officers Lending Real Estate 441

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. This allows lenders to focus on core lending activities while ensuring a smooth and efficient appraisal process.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

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). These legal changes lead to a sharp increase in the use of AMCs. AMCs as a concept were developed in the 1970s.

Appraisal 36

Appraisal Valuation Law Lending 36

Housing Wire

AUGUST 31, 2022

The first category is real estate credit, which covers most establishments focused on lending with real estate as collateral. The second category is mortgage and non-mortgage brokers, which includes establishments that facilitate lending by bringing borrowers and lenders together.

Lending 384

Lending Mortgage Real Estate Loan Officers 384

Housing Wire

MARCH 22, 2021

I discerned, frankly, that these companies all had good legal counsel and would address their reply to this very unusual policy proclamation in their own way. Take fair lending concerns for a minute. And if the borrowers are minority applicants, are there any fair lending implications that should be considered? No lender does.

Business 539

Business Retail Mortgage Lending 539

Lamacchia Realty

MARCH 4, 2024

Unlike loan officers at the bank or credit unions who work for a single institution, mortgage brokers have access to a vast network of lenders, providing borrowers with a wider range of options. Streamlined Process and Time Saving In the fast-paced world of real estate, time is of the essence.

Mortgage 69

Mortgage Legal Realty Buyers 69

Housing Wire

SEPTEMBER 30, 2021

The adoption of digital lending solutions has been increasing over the last few years, with the COVID-19 pandemic only accelerating the process. We’ve been at this a long time, so we understand our clients’ need for agile and technology-forward lending platforms to help them sustain and scale critical business processes.”.

Technology 369

Technology Clients Supply Chain Design 369

PennyMac

APRIL 2, 2020

Is Homeowners Insurance Legally Required? This ensures that you are not paying too much, and that your lender is not lending you more than a home is actually worth. Once you have fulfilled all of your lender’s documentation requests, it’s time to close escrow on your loan. What about on weekends or at rush hour?

Real Estate Agent 36

Real Estate Agent Inspection Sellers Agents 36

Housing Wire

APRIL 13, 2022

But that engine could stall if action isn’t taken to increase the supply of affordable housing and expand opportunities for lending to underserved families. Since 2016, legal immigration growth has declined by 40%. Increasing the supply of legal immigrant construction workers would accelerate economic growth. of GDP in 2020.

Insurance 384

Insurance Construction Government Lending 384

Housing Wire

MARCH 29, 2022

The three agencies in charge of such reviews — the Federal Reserve , the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency — have not denied a single bank merger in 15 years. And HUD can bring lawsuits claiming bias in mortgage lending. The law also required banks to lend within their communities.

Lending 370

Lending Government Law Mortgage 370