Housing Wire

AUGUST 14, 2023

Swiss bank UBS AG announced Monday it has agreed to pay $1.43 UBS was allegedly aware of these significant problems because it had conducted extensive due diligence on the underlying loans prior to the RMBS being issued to determine whether the loans were consistent with representations that would be made to investors.

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Housing Wire

JUNE 15, 2023

Donatacci has extensive experience in servicing transactions and subservicing, due diligence, and M&A. The company has a client base that includes banks, credit unions, and mortgage bankers. Cenlar FSB, headquartered in Ewing, New Jersey services loans in 50 states and U.S. territories.

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Investor Due diligence Loans Banks 329

Housing Wire

MAY 16, 2023

Wells Fargo -backed mortgage fintech Maxwell has struck a deal to acquire mortgage solutions provider LenderSelect Mortgage Group from Blue Ridge Bank. in January 2020, growing to a portfolio of over 180 community banks and credit unions. The financial terms of the transaction have not been disclosed.

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Mortgages Due diligence Banks Technology 367

Housing Wire

SEPTEMBER 13, 2023

A fly in the ointment, however, particularly for some independent mortgage banks (IMBs), is the elevated risk of agency loan-repurchase demands — triggered by loans that violate Fannie Mae ’s or Freddie Mac ’s rep and warranty policies due to some defect discovered during the agencies’ post-origination quality-review processes. “So,

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Due diligence Marketing Loans Mortgages 396

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans.

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Due diligence Marketing Mortgages New Construction 386

Housing Wire

NOVEMBER 30, 2021

We’ve grown in excess of 100 employees already in two-and-a-half quarters, that’s underwriters,” said John Levonick, CEO of Charlotte-based Canopy , a third-party due-diligence (TPR) firm that started doing business in the second quarter of 2021. And there’s just no way for due-diligence to really compete with that.”.

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Due diligence Mortgages Loans Residential 386

Housing Wire

OCTOBER 29, 2020

HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. HousingWire: How do Trelix services help users minimize risks and perform loan due diligence?

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Due diligence Mortgages Title search Loans 402

Housing Wire

APRIL 22, 2021

“Plus, we’re a due diligence state, so right now if you don’t go way over listing price and offer a substantial due diligence price, there’s no point in even submitting an offer.” ” The current average due diligence is around 3.1% Thankfully, most banks were still lending.

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Housing Wire

MARCH 16, 2022

Founded in 2015, Maxwell uses artificial intelligence to accelerate the mortgage process for over 300 community lenders, banks, and credit unions. Maxwell looks to digitize the entire mortgage transaction with fulfillment, payments, and due diligence solutions. Are digital closings really worth it? Presented by: Notarize.

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Due diligence Loans Lending Technology 360

Housing Wire

MARCH 23, 2021

In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements. There were enough significant findings to make these loans unsalable. Covid challenges.

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Lending Mortgages Due diligence Debt-to-income ratio 442

Housing Wire

JANUARY 5, 2023

After its due diligence, Sprout would send a “cleared to purchase” confirmation, which is what happened with a $7,581,712 package of loans originated from January to March 2022, according to Loan America. The mortgage lender has started to respond to some of these claims, denying its allegations. .

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Loans Due diligence Loan Officer Mortgages 418

Housing Wire

DECEMBER 3, 2021

This week’s HW+ member spotlight features Reina Ramos, senior vice president, mortgage market leader at City National Bank of Florida. She joined CNBF after more than a decade with Seacoast Bank , where she served as senior vice president, residential lending production manager. There was so much information to absorb and retain.

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Due diligence Loan Officer Banks Industrial 384

Housing Wire

APRIL 26, 2022

As far as a borrower is concerned, they just have a home loan, and they make a payment just like they normally would from their bank account, or they also can make it from their crypto [currency] wallet.”. LauraMac is a software as a service, or SaaS, firm that provides due-diligence automation tools for the secondary market.

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Due diligence Mortgages Equity Loans 450

Realty Biz

FEBRUARY 19, 2024

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Careful due diligence is necessary to ensure you don't make any significant mistakes. Conducting thorough due diligence is the cornerstone of a successful land purchase.

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Land Due diligence Title search Finance 142

Housing Wire

NOVEMBER 30, 2020

In his capacity as fund manager, he was responsible for deal origination, leading all due diligence activities and reporting to an Investment Committee based in Hong Kong. In addition to his venture capital experience, Selman has 15 years of investment banking experience and, more recently, spent 10 years as a tech entrepreneur. . “I

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Technology Mortgages Due diligence Commercial 370

Housing Wire

APRIL 12, 2023

In the case of the real estate company, a spoofed email that purported to be from a real estate agent at the company directed a closing attorney to wire $154,000 in home-purchase funds to a bank account controlled by the fraudsters. bank accounts to various locations in West Africa via wire transfers.

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Industrial Banks Title Technology 379

Housing Wire

MAY 13, 2022

In 2008 when blockchain and its celebrity use case of BitCoin came into view, with breathless excitement discussions of complete decentralization of purchases and bank-less futures coursed freely through public discourse. But this future is still taking shape. Clearly the place and room for this transformational technology is opening up.

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Due diligence Technology Banks Title 350

HomeLight

APRIL 9, 2024

Do your due diligence When exploring cash-for-homes options, it’s crucial to ensure the company’s legitimacy. Requesting proof of funds — a bank statement or a letter from the buyer’s bank verifying their ability to pay the purchase amount — should be standard procedure.

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Proof of funds Due diligence Investor Banks 106

Housing Wire

MAY 10, 2022

Scott McNulla , a senior director overseeing regulatory compliance at loan due-diligence firm SitusAMC , said one way to guard against or spot red flags in the mortgage origination and/or securitization pipeline that can cause problems down the road is to ensure the loan-input data is correct from the start. Million — [Tampa, Florida].

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Mortgages Marketing Loans Finance 396

Realty Biz

OCTOBER 23, 2023

Due diligence: AI can be used to automate the due diligence process for real estate transactions. Additionally, consumers are becoming more comfortable using AI in other areas of their lives, such as online shopping and banking. As a result, AI is rapidly transforming the real estate industry.

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As-is Industrial Due diligence Development 112

Realty Biz

JUNE 20, 2023

However, it requires a sound strategy and due diligence to find the best deals. REOs: If a property does not sell at auction, it becomes a real estate-owned property, owned by the bank or lender. Negotiating Foreclosures Negotiating a foreclosure requires understanding the bank's motivations.

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Due diligence Hard money loan Inspection Title 94

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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Banks Inspection contingency Inspection FHA loan 89

Housing Wire

MAY 26, 2023

With fewer deals happening, agents are eager to jump on the listing and they maybe aren’t doing as much of their due diligence.” Adams said key to preventing seller impersonation fraud is taking a layered approach to identity verification and validation for sellers. Kosofsky feels fake IDs are at the crux of his firm’s misfortune.

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Title Land Due diligence Sales 381

GeekEstate

NOVEMBER 1, 2021

The opportunity: Reporting to the Senior Associate, the Analyst will be responsible for supporting the Senior Associate in managing deal pipeline, conducting due diligence, producing financial performance and metrics reports, managing LP reporting, and assisting in developing efficient operating procedures as SCV grows into a global juggernaut.

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Due diligence Equity Development Banks 108

Marco Santarelli

APRIL 9, 2024

You must do your due diligence before stepping in, which includes property inspection, real estate comps, maintenance expenses, property taxes property protection, etc. Be extremely particular and conduct appropriate due diligence to find and screen good tenants for your rental property. ” Why so? You may ask.

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Due diligence Property Management Investor Development 98

Housing Wire

FEBRUARY 16, 2023

At LenderLive, he was instrumental in steering the company into providing “advanced technology solutions and outsourced financial services to the banking and mortgage industries,” according to a statement from Lauramac. Seehausen also served as the CEO, founder, president, vice chairman at LenderLive Holdings and Preserve Financial, Inc.

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Loans Principal Technology Development 335

Housing Wire

AUGUST 11, 2020

And now, thanks to these reforms, we live in an era of far greater mortgage banking controls and stability. But despite what’s at stake for minority communities, they have so far refused to perform such basic due diligence.

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Due diligence Loans Mortgages Development 421

Housing Wire

APRIL 20, 2021

.” From the Mortgage Bankers Association (MBA): “While MBA supports the ongoing development of such tools, MBA also acknowledges the need for appraisers and lenders to provide some level of oversight and due diligence to preserve the overall quality of the data referenced in future valuations.

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Technology Due diligence Lending Industrial 397

Realty Biz

MARCH 15, 2021

Using cryptocurrencies to purchase real estate without using banks has already been happening over the last decade. Smart contracts can also improve due diligence, save on costs, and reduce the likelihood of fraud, payment disputes, and many other issues. Transactions and ledgers.

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Technology Due diligence Title Marketing 145

Housing Wire

MAY 23, 2023

Even if you are not buying those loans, because there could be recourse down the road, this could require additional due diligence on past loan production, which could result in more time, more cost and then possibly the renegotiation of purchase price depending on the results.”

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Loans Purchase and sale agreement Due diligence Industrial 382

Housing Wire

NOVEMBER 16, 2022

But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Still, consolidation is clearly underway in the mortgage banking industry already. By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 trillion to $1.7

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Banks Mortgages Loan Officer Due diligence 410

Housing Wire

MAY 5, 2022

At the end of the term, the buyer refinances the debt with a loan from a bank and pays you off, releasing you from the investment. Roofstock does the work: A lot of due diligence goes into selling a rental property. You can provide financing for a few years (you choose the terms). Pay Your Tenant to Leave.

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Due diligence Finance Principal Sales 366

Realty Biz

MARCH 30, 2023

This includes bank statements, tax returns, pay stubs, credit report information, etc. When searching for someone to work with, be sure to read online reviews and do your due diligence. Therefore, make sure you do your due diligence before signing any contracts. that may help you get approved with favorable terms.

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The Residential Specialist

FEBRUARY 27, 2024

Do some digging: “You have to be very careful and do your due diligence when you’re contacted,” says Dallison Veach, CRS, owner of Veach Realty Group in Springfield, Virginia. In encountering the aforementioned scam, Veach had asked for and received bank statements, identification and proof of funds.

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Earnest money deposit Proof of funds Due diligence Title 98

Housing Wire

MARCH 17, 2022

In terms of prime jumbo residential mortgage-backed securities, I expect volume to be challenged due to interest rates and bank portfolio bids,” Pelka said. Pelka agrees that the PLS market is under pressure. “In Credit, such as non-QM [nonprime mortgages], is under pressure from rates, spreads, and extension risk.

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Loans Marketing Due diligence Residential 326

Realty Biz

SEPTEMBER 11, 2023

The real estate market in 2023 calls for more than just investment savvy; caution and due diligence have become equally essential. Given the rising rates of fraud, due diligence is no longer an option but a necessity for a secure transaction. The critical takeaway here is never to leave anything to chance.

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Due diligence Title Mortgages As-is 103

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? After all, while principals, investors and banks may not be clamoring to get into the title business for CRE transactions, not many title agencies do it well, and many of those only know certain markets.

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Commercial Brokerage Due diligence Title 406