Home Bay expands into title and settlement services after buying stake in OnTitle



San Diego-based Home Bay has recently extended its escrow services beyond its home state of California, into states including Colorado, Florida, Illinois and Texas.

HUD settles out of court over sexual harassment allegations



The Department of Housing and Urban Development has agreed to settle out of court in three states with housing industry participants over sexual harassment charges

Here’s why loan officers should attend closings



Buyers should consider requesting that a loan officer is present on closing day if they want to be more satisfied with their deal, according to a new survey.

Wells Fargo agrees to record-breaking $1.2bn FHA settlement



Wells Fargo set a new record when it agreed to pay the federal government $1.2 billion in settlement fees for the Federal Housing Administration.

FHFA Announces Two Winning Bidders, With Plans To Continue Bulk REO Sales



FHFA has released some information concerning the results of the bidding for bulk sales of Fannie Mae owned properties. The qualifying process began in the spring, for investment groups that could meet specific FHFA guidelines for capital assets, management capability and other criteria.

Short Sales to Speed Up



Following a recent settlement with the state attorneys general, new short sale requirements are to be adopted by the largest five mortgage servicers in the US, in the expectation that these will speed up what has become quite a lengthy process.

Citigroup Hit With $158 Million Mortgage Fraud Settlement



Citigroup has suffered its second setback in two weeks, with the news that the bank will have to pay out $158.3 million in settlement fees, coming hot on the heels of last week’s $25 billion foreclosure settlement that was agreed between states and America’s five largest banks.

ZipRealty Agree Settlement Over Agent’s Pay



Four real estate agents in California who claimed that their employer paid them less than the state’s minimum wage while also refusing to pay overtime have a reached a settlement with the company, Bakersfield reports. Their employer, ZipRealty, agreed a total payout of $586,068 for the four employees. Discussing the background to the case, Christine […]

iStar Plans to Open Miami Paramount Bay Luxury Condos Soon



Investment firm iStar Financial hopes to finally open the troubled downtown Miami condo tower Paramount Bay this year, adding ST Residential to the property’s title.  The 47-story waterfront tower is difficult to miss, but it has remained vacant and unfinished for nearly six years.   When Royal Palm Miami Holdings began construction in 2005, there […]

Investors Want H&R Block’s Subprime Lender to Pay Up



Several mortgage bond investors are seeking assistance to force a subprime lending unit of H&R Block Inc. to buy back billions of dollars worth of faulty loans.  The company, called Option One back when it did its dirty work, is now known by the name Sand Canyon Corp (SCC).  H&R Block sold off the servicing […]

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