Tag Archives: regulations

Cap on servicer fees for FHA loan assumptions doubled to $1,800

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While lenders welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions quickly. Continue reading →

UWM expands program that dispenses with title insurance

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Nation’s largest mortgage lender says brokers “will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling closing or any related communication.” Continue reading →

Ocwen agrees to settle decade-long suit over BPO, valuation fees

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Up to 330,377 homeowners from whom Ocwen collected mortgage payments could be eligible to claim refunds of $60 per broker price opinion and $70 per hybrid valuation Continue reading →

Top New Jersey loan mortgage originator charged with fraud

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Mortgage fraud scheme allegedly listed investors as homeowners to secure lower interest rates, prosecutors allege in criminal complaint against “Team Gallo” leader and his assistant. Continue reading →

Lamacchia: ‘Nothing’s changed’ about mortgage commission rules

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Anthony Lamacchia thinks some agents are reading too much into guidance issued by mortgage giants Fannie Mae and Freddie Mac confirming sellers can continue to pay buyer’s agents’ commissions. Continue reading →

Proptech investment is way down — but these 4 areas still see demand

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AI, green building and energy transition, and property and transaction management solutions are still seen as stable investments by VC firms, recent reports show, despite an overall decline in investments in proptech. Continue reading →

Industry gets some clarity on mortgage commission rules

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Fannie, Freddie and FHA say sellers can continue to pay the buyer’s agent’s commission. But it remains to be seen if buyers will be allowed to finance their agent’s commission into their mortgage. Continue reading →

UWM CEO Mat Ishbia claims Rocket Mortgage behind attacks

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Hunterbrook Media founder dismisses Ishbia’s take as “baseless conspiracy theory”, while Rocket says it and founder Dan Gilbert have no financial interests or relationship to Hunterbrook. Continue reading →

Nation’s largest mortgage lender shorted by Park Avenue hedge fund

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United Wholesale Mortgage denied explosive allegations that many mortgage brokers who send it business aren’t shopping around for best deals. UWM dismissed a related lawsuit as “a sham.” Continue reading →

LoanDepot settles high-profile appraisal bias lawsuit filed in 2022

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Lender revises appraisal policies and practices in wake of lawsuit by Baltimore couple who claimed their home was undervalued by more than $250,000 because they were Black. Continue reading →