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FHFA: GSE servicers must keep fair lending data

Housing Wire

In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits. Presented by: Selene Finance.

Lending 360
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A Log Home Valuation

Appraisal Buzz

With all the construction of log homes, there needs to be legal and competent appraisals for these homes. However, the Highest and Best Use Analysis tells us that a log home must be legally compliant and/or Legally Permissible and the findings of the analysis must be relayed to the intended user of the report.

Valuation 396
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Motto sues UMortgage for ‘tortious interference’ in franchise contract

Housing Wire

TRB Solutions, which operated as Motto Mortgage Apex in Cincinnati, received Motto’s support, such as know-how, training, access to third-party resources and other trade secrets, according to the document. HousingWire reached out to NFM lending, Bolden and Stephen, but they did not reply to requests for comments.

Contracts 363
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Financing proves an obstacle for ADUs

Housing Wire

Accessory dwelling units are increasingly legal. “However, the rental income can account for no more than 30% of the borrower’s total stable income and the borrower must have either had landlord experience or taken a landlord training course,” the report reads. ADUs were legalized statewide in 2017.

Finance 375
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UWM gave brokers big discounts to play with. It could be risky

Housing Wire

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. ” According to Selden, the rule is clear.

Lending 350
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Introducing the 2022 Class of HW Insiders!

Housing Wire

SVP, Retail Lending Analytics Manager. EVP, Training and Operational Support. Synergy One Lending. VP, Legal and Compliance. Heather Hanwacker. Modeling & Analysis Manager. Enact Mortgage Insurance. Heike Hellwig. Executive, Customer Experience. Huruy Yohannes. AmeriHome Mortgage. Jacob Gibbs. VP, Technology.

Retail 326
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Feds seek to enlist real estate agents in anti-corruption push

Housing Wire

In addition, the proposed rule also envisions potentially requiring mandated reporting for trusts — defined, by FinCEN, as a legal “relationship in which one person holds title to property subject to an obligation to keep or use the property for the benefit of another.”. and foreign trusts,” the agency’s proposed rule states. .