Housing Wire

APRIL 23, 2024

The FTC’s final rule to ban noncompetes will ensure Americans have the freedom to pursue a new job, start a new business, or bring a new idea to market.” Chamber of Commerce has vowed to take legal action against the FTC, according to a statement calling the ban “an unlawful power grab.” labor force.

Real Estate Agent 389

Real Estate Agent Loan Officers Lending Real Estate 389

Housing Wire

APRIL 16, 2024

In a down market disrupted by the commission lawsuits, agents and LOs are considering working in a dual capacity. As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground.

Real Estate Agent 403

Real Estate Agent Loan Officers Real Estate Agents 403

Housing Wire

NOVEMBER 28, 2023

The savvy real estate agents and loan officers see this not a crisis but a golden opportunity. This is a call to arms for real estate agents and loan officers ready to seize the day. ” Message : Project confidence and deep understanding of market changes. This is your moment.

Real Estate 287

Real Estate Real Estate Agent Loan Officers Clients 287

Housing Wire

OCTOBER 10, 2023

And the market has gotten much darker over the last few years. After six years of no enforcement actions and a rapidly declining housing market, RESPA attorneys believe some in the industry may be more willing to test the boundaries. “I The same happens with concert or sports tickets as a marketing opportunity.

Real Estate Agent 404

Real Estate Agent Loan Officers Real Estate Agents 404

Housing Wire

MARCH 28, 2024

According to the DOL, they must pay $35,000 in emotional damages and the legal fees of the two employees who reported consumer fraud concerns. In July 2023, company executives told HousingWire that they were expanding their market share by growing their existing footprint in a margin-thinning environment. mortgage lender in 2023.

Human Resources 350

Human Resources Legal Fees Loan Officers Retail 350

Housing Wire

NOVEMBER 10, 2022

Houlihan Lokey served as financial advisor and Pierce Atwood served as legal advisor to Mortgage Network. Troutman Pepper was Movement’s legal advisor in the M&A transaction. “We Movement says it employs more than 1,500 loan officers nationwide and has over 550 branches.

Retail 370

Retail Mortgage Loan Officers Legal 370

Housing Wire

SEPTEMBER 7, 2023

“The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

Buyers 374

Buyers Agents Loan Officers Real Estate 374

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 383

Brokerage Realty Real Estate Loan Officers 383

Housing Wire

NOVEMBER 2, 2023

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). Smart Rate marked Strauss’s return to the mortgage market after abruptly shuttering Sprout Mortgage in July 2022.

Business 400

Business Loan Officers Law Mortgage 400

Housing Wire

MARCH 24, 2023

ChatGPT for lenders Several use cases exist for mortgage companies and loan officers to use ChatGPT and AI. ChatGPT wrote it as a legal issue and all of a sudden, the developer showed up at her house,” he said. As for the “limitations,” it’s not always correct, and much data has not been updated after 2021.

Loan Officers 466

Loan Officers Legal Development Marketing 466

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 316

Modernization Lending Legal Legal Fees 316

Housing Wire

AUGUST 10, 2022

“We are well positioned to educate consumers about the loan process and help them overcome whatever challenges that may arise. Panorama offers platforms for human resources, finance, technology, legal and compliance services to its group of lenders.

Lending 385

Lending Human Resources Mortgage Loan Officers 385

Housing Wire

FEBRUARY 1, 2023

“The streamlined process and certainty One-Time Close New Construction loans offer is unmatched and will set brokers up to be the hero with builders, real estate agents and contractors, and get their borrowers in their dream home,” Mat Ishbia , president and CEO of UWM, said in a statement.

Construction 393

Construction Real Estate Agent Loan Officers Legal 393

Housing Wire

JUNE 30, 2021

In the lender’s direct marketing and open house materials, the models were white. The lender’s offices were concentrated in white neighborhoods, and nearly all of its loan officers were white. The CFPB also found that loan officers sent internal emails “containing racist and derogatory content.”.

Loan Officers 414

Loan Officers Lending Open Houses Legal 414

Housing Wire

AUGUST 17, 2023

The CFPB claims that Freedom entered into marketing services agreements with more than 40 real estate brokerages, with monthly payments to brokerages totaling approximately $90,000. These perks were offered in exchange for a requirement for agents and brokers to agree to be paired with a Freedom loan officer.

Realty 369

Realty Mortgage Brokerage Real Estate 369

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

Loan Officers 447

Loan Officers Mortgage Business Retail 447

Housing Wire

APRIL 1, 2024

billion in mortgage loans in 2023, according to Kortas. As of Monday, the company had 2,391 sponsored mortgage loan officers, per the Nationwide Multistate Licensing System (NMLS). Grella told HousingWire that the mortgage business is profitable despite a challenging market.

Brokerage 334

Brokerage Business Loan Officers Legal 334

Housing Wire

DECEMBER 18, 2023

Matthew Marx is the CEO and co-founder of digital marketing agency Evocalize , and has written on the topic of the new rules on social media as well as speaking about the changes on podcasts including HousingWire Daily. The potential marketing impacts The new rule is not likely to dismantle lead aggregators or their businesses, Marx said.

Mortgage 384

Mortgage Business Legal Real Estate 384

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 370

Mortgage Loan Officers Advertising Clients 370

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 393

Mortgage Investors Legal Loan Officers 393

Housing Wire

FEBRUARY 6, 2023

Maybe at the time when the ultimatum went out, the market was busy and people made decisions without thinking through what happens when the market changes. The market has changed. (…) Optionality and freedom becomes more and more important,” he said. billion in mortgages, according to Inside Mortgage Finance.

Mortgage 287

Mortgage Loan Officers Retail Legal 287

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. Meanwhile, trade groups representing lenders believe that more details on the settlement are needed to understand its coming impact on the housing market.

Buyers 498

Buyers Agents Mortgage Real Estate Agent 498

Housing Wire

JUNE 2, 2022

CrossCountry Mortgage is suing Guild Mortgage for poaching a former Las Vegas branch manager and allegedly convincing her to steal proprietary information, the latest escalation in a brewing legal battle between the retail mortgage lenders. The accusations are part of a lawsuit filed in late-May in the U.S. District Court of Nevada.

Loan Officers 333

Loan Officers Retail Legal Clients 333

Housing Wire

MAY 29, 2024

Flying under the radar’ Based on public data from Affirm — a market leader in the BNPL space — Wells Fargo economists Tim Quinlan and Shannon Seery Grein estimate that BNPL providers originated $46 billion in loans in 2023. Some BNPL providers report these loans to credit bureaus. are examples.

Mortgage 348

Mortgage Clients Sellers Loan Officers 348

Housing Wire

MAY 3, 2023

Unlike loan officers, whose commissions are highly regulated by the government, real estate agent commissions are based largely on long-standing industry practices and market forces. The legal threat that looms largest is what’s known as the “Moehrl case.” See the house? Like the price? Click the button and buy it.

Agents 389

Agents Real Estate Agent Brokerage Real Estate 389

Housing Wire

AUGUST 4, 2023

Yes, you should certainly be able to post an impressive listing and understand the ins and outs of closing, but helping buyers and sellers means cultivating a diverse set of skills to navigate a complex and ever-changing real estate market. The first skill you need is the desire and drive to stay current with market conditions.

Real Estate Agent 341

Real Estate Agent Real Estate Agents Clients 341

Housing Wire

JANUARY 30, 2023

According to the class-action-seeking lawsuit, filed in California, AmeriSave hired 200 loan officers to focus on the West Coast region in early 2022. billion war chest to navigate the challenging market, according to the lawsuit. During job interviews, executives at AmeriSave allegedly said the company had a $1.5

Loan Officers 428

Loan Officers Retail Contracts Mortgage 428

Housing Wire

JANUARY 6, 2023

Complaints about the company’s labor practices were made public in November amid a challenging mortgage market. Despite its efforts to obtain more purchase loans, Rocket lost $166 million in the third quarter of 2022 and fell from its position as the largest mortgage lender in the country. Rocket originated $25.6

Loan Officers 319

Loan Officers Mortgage Business Marketing 319

Housing Wire

DECEMBER 14, 2020

An ex-software engineer, Green is also a former loan officer and founder of The Mortgage Reports, a mortgage education website that was eventually acquired by Full Beaker. mortgage market. “There are 2.5 million first-time home buyers every year in the United States,” said Green.

Loan Officers 305

Loan Officers Investors Legal Buyers 305

Housing Wire

FEBRUARY 5, 2024

RMS had 70 offices in 14 states, 850 employees, and 250 loan officers. billion in mortgage loans. The plaintiff claims that as the market began to cool, Guild began terminating some employees. Seely joined Guild in 2021 when the California-based lender paid $196.7 In 2020, it originated $8.5 2 in a U.S.

Retail 361

Retail Contracts Loan Officers Mortgage 361

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. “This company had hundreds of loans.

Legal 370

Legal Contracts Business Mortgage 370

Housing Wire

APRIL 13, 2022

Action must be taken to provide adequate credit access to homebuyers and encourage the housing market to expand opportunities for American households. Housing costs, particularly at the bottom of the market, have skyrocketed with a limited supply of housing and a severe shortage of construction workers. in 2001 to 44.8%

Insurance 367

Insurance Construction Government Lending 367

Housing Wire

MARCH 17, 2023

“This proposed guilty plea reflects the nature and seriousness of the wrongdoing and demonstrates the Department of Justice’s commitment to protecting the integrity of our public markets, holding corporations accountable for their criminal misconduct, and compensating victims for their losses,” Polite said in the DOJ’s announcement in the case.

Loan Officers 322

Loan Officers Law Investors Mortgage 322

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. One of the lender’s focuses was to cut costs in the 2022 shrinking mortgage market.

Loan Officers 408

Loan Officers Law Mortgage Real Estate 408

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 337

Lending Law Legal Training 337

Housing Wire

MARCH 22, 2021

Conversely, some westernized economies are dominated by just a few lenders, leaving a far less optimized mortgage market. 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. Without question, the vibrant state of the U.S.

Business 538

Business Retail Mortgage Lending 538

Housing Wire

SEPTEMBER 15, 2020

business advisory firm in real estate, mortgage finance, digital mortgage, banking and capital markets. The pandemic has fast-tracked market acceptance and business operations for Notarize and RON as a category,” Kinsel said. Borrowers can complete the closing from the comfort and safety of their own homes,” she said. “If

Business 448

Business Law Real Estate Investors 448