Housing Wire

OCTOBER 23, 2023

From a data lens, transactions can be broken out into three different stages: Valuation , Due Diligence , and Contract. Valuation – The valuation stage can also be considered the preliminary due diligence stage. Once an offer is accepted, the full due diligence stage commences.

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Housing Wire

APRIL 18, 2024

Non-QM vigilance Pamela Hamrick, president of Incenter Diligence Solutions , which provides due-diligence reviews and document management services for the mortgage industry, said that prefunding reviews are also gaining more traction in the nonqualified mortgage ( non-QM ) space. “And

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Loans Due diligence Investor Technology 448

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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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 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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Housing Wire

JUNE 3, 2024

State regulators, investors, creditors, business partners, and the public in general conducting due diligence or research are expected to use the information available. As a result, many banks, credit unions, and mortgage companies are known to regulators, but some nonbank firms are still not licensed or registered.

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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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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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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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Housing Wire

MAY 22, 2023

Setpoint , a real estate funding platform, acquired Resolute Diligence Solutions to support proptech and single-family rental re-engagement in the market, the firm said.

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Housing Wire

DECEMBER 30, 2024

In the 16 years since the peak of the Global Financial Crisis, the structured products industry has transformed from a market dominated by large banks to one with space for new players. But insurance companies arent the only players taking note of the potential here, and we could see banks re-enter the non-QM space.

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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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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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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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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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Housing Wire

DECEMBER 9, 2021

Investment bank Goldman Sachs , through its affiliate Goldman Sachs Mortgage Co., Michael Franco, CEO of SitusAMC , which provides due-diligence services to RMBS issuers, said market dynamics have played a major role in the dominance of jumbo-loan securitizations in the private-label market this year.

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Loans Due diligence Residential Mortgages 435

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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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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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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Housing Wire

JANUARY 5, 2022

SitusAMC, a leading provider of services and technology to the real estate industry, controls some 60% to 70% of the due-diligence loan-review market, according to its CEO, Michael Franco. In terms of competition, Franco added that the private-label market is now largely uncharted territory with respect to loan-defect insurance.

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HomeLight

MARCH 30, 2021

As a buyer, that means you have to do your due diligence from both a practical and contractual perspective. What does due diligence mean in residential real estate? That’s why we’ve put together this guide to due diligence for a homebuyer. Free Homebuying Due Diligence Checklist.

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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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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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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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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 448

Housing Wire

APRIL 20, 2022

Non-bank lenders that originate to sell loans will appreciate how quickly eNotes can move on and off warehouse lines and, ultimately, to investors. Conduct due diligence on the experience and connectivity of potential eVault partners. How do you pick the right one for your specific requirements?

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Lending Due diligence Investor Technology 396

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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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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Housing Wire

JANUARY 13, 2023

The third deal in motion, also backed in part by investment properties, is now undergoing due-diligence review. It is an estimated 470-loan securitization — with no value yet assigned in the due-diligence documents filed with the U.S. Securities and Exchange Commission. in June to 6.5%

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Marketing Investor Due diligence Loans 448

Housing Wire

JUNE 2, 2022

Morgan CEO Jamie Dimon is famously no fan of crypto, the bank dove into the enigmatic world of blockchain-based finance in 2020 with the launch of Onyx , a business unit devoted to exploring and expanding the use of blockchain technologies. . Even though J.P.

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Housing Wire

JANUARY 3, 2023

And one of the many reasons that VA loans default at a lower rate than other loan types, including conventional, is because of the required due diligence to ’protect the property,’ which then protects the homeowner.

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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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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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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 430

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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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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