Housing Wire

MAY 8, 2024

Several departments were affected, including legal, secondary market and quality control. HousingWire reported in February that the lender and servicer restructured its distributed retail mortgage business, resulting in cuts to regional and divisional managers while reducing compensation for loan officers. above year-ago levels.

Loan Officers 389

Loan Officers Retail Legal Mortgage 389

Housing Wire

AUGUST 31, 2022

The bank resulting from the deal will offer mortgage lending and servicing, commercial and retail banking, and institutional banking. According to Inside Mortgage Finance estimates, Cornerstone, independently held, is a top-50 retail mortgage lender. was the financial advisor and Holland & Knight LLP the legal counsel.

Lending 343

Lending Retail Legal Loan Officers 343

Housing Wire

MARCH 19, 2024

The “All-In” addendum amended the 2018 broker agreement “by adding a warranty and representing that Atlantic Trust would not submit loans to select retail lenders (Rocket and Fairway), and if it did, such submissions would be a breach of the agreement,” UWM’s suit stated. district court in Michigan. UWM sued Kevron Investments Inc.,

Mortgage 353

Mortgage Law Brokerage Legal 353

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 357

Loan Officers Legal Retail Finance 357

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. UWM on Thursday when filed a lawsuit in a U.S.

Contracts 431

Contracts Loan Officers Lending Retail 431

Housing Wire

OCTOBER 12, 2023

Bankrupt retail lender AmeriFirst Financial is seeking approval for a private sale of loans from a Delaware bankruptcy judge to pay off two warehouse lenders and fund restructuring costs. If approved, AmeriFirst’s retail and commercial loans worth more than $5 million will be sold to a non-QM lender Oaktree Funding Corp.,

Retail 399

Retail Legal Buyers Mortgage 399

Housing Wire

OCTOBER 31, 2022

The acquisition includes four manufacturing facilities, 22 retail locations and transportation operations. These homes are sold by retail stores in New Mexico, Oklahoma and Texas. TrueNorth Capital Advisors served as the financial advisor and Polsinelli served as the legal advisor to Cavco for this transaction.

Retail 368

Retail Legal Transportation Sellers 368

Housing Wire

MARCH 28, 2024

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. Investigators at the U.S.

Human Resources 396

Human Resources Legal Fees Loan Officers Retail 396

Housing Wire

APRIL 24, 2023

In response, UWM said in its motion to dismiss the amended counterclaim that the ultimatum resulted from the fact that Rocket and Fairway “have eroded” the broker channel by converting customers from wholesale lines to retail lines. AML was not the first broker shop to enter a legal battle with UWM.

Legal 357

Legal Law Retail Brokerage 357

Housing Wire

SEPTEMBER 11, 2023

His overarching duty remains to steer the bank’s mortgage operations into full alignment with both federal and state legal mandates. His responsibilities extend across retail and correspondent originations, operations, and loan servicing divisions within the bank.

Retail 386

Retail Legal Design Mortgage 386

Housing Wire

DECEMBER 15, 2023

South Carolina-based retail lender Movement Mortgage filed a lawsuit this week against Todd Scrima, founder and president at its competitor Summit Funding , accusing him of gaining illegal access to Movement’s confidential financial files and also scheming to divert Movement’s customers toward Summit.

Legal 393

Legal Loan Officers Retail Business 393

Housing Wire

JUNE 29, 2023

and Delaware employees also transitioned to the retail competitor. That’s not the Orange County, California-based lender’s only poaching legal battle. Additional Maryland, Washington, D.C., In some cases, Movement offered a $125,000 signing bonus to loanDepot loan originators to come to the company, the lawsuit claims.

Retail 395

Retail Contracts Legal Business 395

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 ). Illinois-based mortgage lender Celebrity Home Loans and its parent company Celebrity Financial, Inc.

Loan Officers 408

Loan Officers Retail Legal Lending 408

Housing Wire

NOVEMBER 13, 2020

Offerpad also announced new hires on its executive team, appointing David Connelly as its new chief growth officer and Ben Aronovitch as its new chief legal officer. Kryczkowski brings experience with wholesale, correspondent and retail to her new position, and most recently, she worked at First Guaranty Mortgage Corp.,

Lending 432

Lending Mortgage Retail Legal 432

Housing Wire

JANUARY 10, 2024

According to the document, the award arises from “Defendants’ breaches of their employment agreements and violations of their other legal duties during their employment in Washington.” A spokesperson for CCM wrote that the company “does not comment on legal matters.”

Legal 408

Legal Lending Contracts Mortgage 408

Housing Wire

JUNE 6, 2023

This latest stunt to lure loan officers back into retail and steer consumers away from brokers (…) ​​Rocket is hiring local loan officers to compete directly with mortgage brokers in the communities where brokers have been building their business for years,” Ishbia said. We have Rocket retail, and we compete,” Fawaz said.

Loan Officers 335

Loan Officers Mortgage Retail Real Estate Agent 335

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 company said it has a full-service retail origination platform that originates agency, government and investor portfolio loans.

Mortgage 364

Mortgage Retail Loan Officers Lending 364

Housing Wire

MARCH 8, 2024

The lawsuit follows a legal battle that started after three of Movement’s veteran sales executives—Deran Pennington, Matt Schoolfield, and Chris Shelton — left for Summit in July 2023. Per the lawsuit, Scrima responded that the company and himself were legally compliant and rejected his proposal to discuss a three-month severance.

Legal 377

Legal Business Mortgage Retail 377

Housing Wire

APRIL 4, 2023

The Consumer Financial Protection Bureau (CFPB) will appeal a redlining lawsuit it lost against the nonbank retail lender Townstone Financial Inc. and its founder Barry Sturner. The decision comes two months after Judge Franklin Valderrama in the U.S. ” The CFPB, which is seeking the review of the case in the U.S. .”

Advertising 368

Advertising Legal Retail Lending 368

Housing Wire

DECEMBER 20, 2023

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. It’s the ultimate in legalized fraud.

Loan Officers 449

Loan Officers Clients Law Legal 449

Housing Wire

FEBRUARY 5, 2024

million to acquire Residential Mortgage Services Holdings (RMS), a Maine-headquartered retail lender of which Seely was president and CEO. The letter, attached to the lawsuit and signed by Schmidt, states, “For the three years prior to the merger with Guild, RMS was consistently 20 to 23% of Guild’s retail volume.

Retail 400

Retail Contracts Loan Officers Mortgage 400

Housing Wire

NOVEMBER 2, 2023

The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Exchange.

Contracts 383

Contracts Legal Retail Training 383

Eppraisal

APRIL 28, 2023

Small retailers, for instance, paying rents on spaces that were now seldom visited, considered selling out of the house as an alternative. Expanding a House to Include a Store There are several considerations to address when creating retail space at your residential property. This alone improves home value.

Retail 36

Retail Business Design Home Value 36

Housing Wire

MARCH 29, 2021

The announcement named Stacie Herron as KWx chief legal officer; Dave Smith as president of Keller Home Financial Services; TV Kumaresh as head of strategy planning and integration; and Paige Gorman as vice president of integration. retail bank and mortgage operations. Smith previously served as head of U.S.

Retail 404

Retail Insurance Legal Finance 404

Housing Wire

JUNE 7, 2021

Jason Gordon, AmTrust Title president, said Bozzomo is “ideal” for the role based on his experience with complex commercial transactions — including retail, office and multifamily. He was also a legal team member at Centex Corporation , a homebuilding company, and was general counsel for Centex Title & Insurance.

Insurance 370

Insurance Legal Retail Government 370

Housing Wire

JANUARY 12, 2024

“The foundation would get what was described, in a January 2023 fundraising package, as a ‘prestigious headquarters … [and] site for small scale, but elegant events’ with its ‘voluminous library on American legal and constitutional development’ as a resource for nearby Roger Williams University ‘s law school.”

Tools 396

Tools Mortgage Finance Lending 396

Housing Wire

OCTOBER 23, 2020

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. It did not admit to any wrongdoing. “We’re million, up from a $47 million loss in the first six months of 2019.

Mortgage 483

Mortgage Government Retail Lending 483

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.

Loan Officers 375

Loan Officers Retail Legal Clients 375

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 450

Loan Officers Mortgage Business Retail 450

Housing Wire

NOVEMBER 17, 2023

The transaction also created legal battles with Sculptor’s shareholders and founders, including Daniel S. The deal was made public four months ago and created a dispute among investors to take the firm, leading Rithm to increase its price by 14% compared to the original bid. Och, but the parties settled the cases in court.

Real Estate 399

Real Estate Investors Investing Legal 399

Housing Wire

NOVEMBER 23, 2020

The report notes that widespread foreclosure moratoria in place do not apply to legally vacant or abandoned homes. Blomquist confirmed that “strong demand” for distressed properties is tied largely to the strength in the retail housing market, which in turn is tied largely to low mortgage rates. . “We

Buyers 529

Buyers Real Estate Investors Retail 529

Housing Wire

AUGUST 25, 2023

Retail lender AmeriFirst Financial Inc. filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. The Mesa, Arizona-based company listed estimated assets and liabilities as much as $100 million each, according to a filing in the U.S. Bankruptcy Court for Delaware.

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

FEBRUARY 6, 2023

More than 17,000 loan officers joined the mortgage broker channel this year, with about half of them coming from the retail channel, Ishbia told analysts in its latest third quarter earnings. Rocket posted about $19.7 billion in volume during the fourth quarter.

Mortgage 307

Mortgage Loan Officers Retail Legal 307

Housing Wire

FEBRUARY 9, 2024

Earlier this month, Fairway — the nation’s ninth-largest mortgage originator — announced a 100% business shift to retail lending. It is unclear whether the judge took into consideration Fairway’s recent decision to exit the wholesale channel.

Contracts 411

Contracts Retail Mortgage Lending 411

Housing Wire

JANUARY 30, 2023

It was part of the Atlanta-based mortgage lender’s strategy for developing a retail mortgage sales division. 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. During job interviews, executives at AmeriSave allegedly said the company had a $1.5

Loan Officers 458

Loan Officers Retail Contracts Mortgage 458

Housing Wire

FEBRUARY 16, 2022

SM: I joined this industry as a Retail Mortgage Loan Officer growing to a Broker Owner in my local community and try to apply a simple concept we share with customers and prospects which is the idea of digital lending made simple. The idea is that only one digital original exists and is legally transferable and enforceable.

Lending 361

Lending Technology Tools Loan Officers 361

Boston Appraisal

MARCH 18, 2024

In legal disputes, the accurate valuation of real estate can be pivotal, making real estate appraisers key expert witnesses. Their specialized knowledge and objective analysis provide crucial evidence that can shed light on complex issues, shape legal strategies, and underpin strong case arguments.

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Legal Real Estate Appraisal Valuation 148