AD Mortgage flags condo reserve rules in FHFA letter
AD Mortgage launched a policy initiative and urged FHFA to watch condo rule changes, noting 30% of projects reviewed fell below 15% reserves.
Mortgage
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Most retirement savers want an ‘easy button’ for planning
A J.P. Morgan survey examines how participants engage with workplace retirement plans across different life stages.
loanDepot asks judge to toss West Capital Lending complaint
loanDepot says WCL lacks standing under TILA and shows no lost customers, urging dismissal with prejudice in California federal court.
Awaiting the CFPB’s next act ahead of Vought’s departure
With Vought authority ending Aug. 1, the CFPB awaits Brian Johnson’s nomination as states expand enforcement and lenders seek clarity.
UWM broker ultimatum tied to 5 bps price drop at rivals
United Wholesale Mortgage’s 2021 move to bar its broker partners from also sending loans to Rocket Mortgage drove an average price decrease of 5 basis points per loan at companies not targeted by the policy, according to a new academic paper.
Christy Soukhamneut on joining Stockton Mortgage as chief strategy and innovation officer
Stockton Mortgage has appointed Christy Soukhamneut as chief strategy and innovation officer to lead operational transformation.
Plaintiffs oppose Veterans United motion to dismiss amended RESPA class-action suit
Fifteen named plaintiffs allege that Veterans United Home Loans — the nation’s largest VA mortgage lender — ran an illegal kickback and steering scheme that funneled borrowers into overpriced loans.
Synergy One to take over Newrez distributed retail mortgage operations
Synergy One will assume Newrez’s distributed retail business, as Newrez doubles down on JVs and direct channels in a bid for long-term growth.
CFPB seeks input on mortgage disclosures and TRID rules
CFPB issued an RFI on TRID, refinance rescission and reverse mortgage disclosures, asking if current rules raise costs and limit access.
Former Stockton Mortgage employees, Novus deny trade secret allegations
In an Alabama federal court, 18 defendants and Novus denied Stockton Mortgage trade secrets and interference allegations.