Veterans United Home Loans is the target of a potential class-action lawsuit over alleged illegal predatory practices. Processing Content The three plaintiffs, all military veterans, accused the lender of deceptively suggesting it was part of the Department of Veterans Affairs or the federal government and steering clients to more costly loans, the filing said. The […]
Lender sued for steering and deceiving military veterans Read More »
Federal Reserve discussions about relaxing Basel III capital treatment of mortgage servicing assets could make MSRs more attractive for banks, but early analysis points to limited near-term market impact. Processing Content Comments from Federal Reserve Vice Chair for Supervision Michelle Bowman on Monday indicated the Fed was discussing removing the requirement to deduct mortgage servicing
MSRs in focus as Fed rethinks Basel III rules Read More »
A Maryland-based title and settlement services company has settled claims that it paid fees to real estate agents and brokers in exchange for customer referrals through joint venture arrangements. Processing Content KVS Title created multiple joint venture companies with real estate agents and brokers, including Alliance Title Services, Clear Title Solutions, Eversure Title, Realty Settlement
Title company settles RESPA JV referral claims for $1M Read More »
Rocket Companies and Redfin on Thursday unveiled a Super Bowl commercial centered on community and the importance of neighborliness, marking the companies’ first shared national ad and Redfin’s first appearance in a Super Bowl broadcast since the company’s founding 20 years ago. The 60-second spot, titled “America Needs Neighbors Like You,” will air during the
Rocket, Redfin air first joint Super Bowl ad Read More »
Once again Rocket Mortgage will advertise in the Super Bowl, this time featuring Lady Gaga singing a song meant to tug at the heartstrings. Processing Content The megastar will sing “Won’t You be my Neighbor,” the theme song from Mr. Rogers Neighborhood. The company wants to build upon the emotional foundation created with its commercial
Lady Gaga featured in Rocket, Redfin Super Bowl ad Read More »
The battle over Costar Group’s high-risk, money-losing Homes.com venture escalated as activist investor D.E. Shaw publicly criticized the company’s board for its handling of the $3 billion investment. Processing Content The latest letter was signed by managing directors Edwin Jager and Michael O’Mary, and came out before the market opened on Feb. 4. D.E. Shaw
Costar board blasted for $3B Homes.com loss Read More »
The end came swiftly at Sierra Pacific Mortgage, especially how the news of the company’s sale was delivered to employees. Processing Content Following the agreement to sell the business to Union Home Mortgage, affected employees were addressed by Jim Coffrini, president and CEO in a brief on-line call. That call did not allow for questions,
When M&A news goes wrong for employees Read More »
Let me be blunt: if you’re still dumping money into digital lead generation and wondering why your conversion rates are dismal, you’re fighting the wrong battle. Processing Content I’ve grown the number of closed loans by 35% over four years not through fancy CRM systems, not through paid advertising, not through some revolutionary fintech solution.
Why buying leads is killing your mortgage business Read More »
TikTok has finalized a deal to form a new U.S. entity with investors that include Oracle, Silver Lake and Emirati firm MGX, easing the threat of a nationwide ban and allowing the social media app to continue operating for more than 200 million American users. The company said Thursday that the new TikTok U.S. joint
TikTok forms US entity, easing social media marketing concerns for mortgage pros Read More »
United Wholesale Mortgage and its chief marketing officer are distancing themselves from the Katie Sweeney legal saga, denying they have undue influence over a broker trade group. Processing Content The company and its CMO Sarah DeCiantis formally responded to Sweeney’s accusations last week, part of her fight to recoup $300,000 from the Association of Independent
UWM, executive deny influence over AIME in Sweeney lawsuit Read More »