“We’ve been growing their business a while and we offer extremely competitive pricing. We thought we were doing a good job. C2’s owner, Ron Tomko, actually told us that himself, and we hadn’t heard any negative feedback until this decision,” Quicken Loans CEO Jay Farner told HousingWire late Sunday night.
Mayer Brown announced it has named finance attorney Michael McElroy as a partner resident in its Washington, D.C. office. McElroy, who joins the firm after serving as the general counsel and secretary for First Guaranty Mortgage, will focus his practice on a range of matters related to the mortgage banking and consumer finance industries.
Fannie Mae CEO Timothy Mayopoulos is once again in trouble for his romantic relationship, receiving yet another rebuke from a government watchdog. While the CEO did disclose his relationship and even recused himself from any connected business decisions, this government watchdog says he did not go far enough.
A major U.S. bank is being fined over sloppy mortgage documentation practices and no, it’s not Wells Fargo. The Federal Reserve announced Friday that it fined CitiGroup $8.6 million over the “deficient execution and notarization of certain mortgage-related affidavits� by its subsidiary CitiFinancial.
Two of the Senate’s top Democrats are demanding answers from Wells Fargo after the bank revealed last week that an error in its mortgage underwriting software led to hundreds of improperly denied mortgage modifications and unnecessary foreclosures.
The IRS and the U.S. Department of the Treasury issued proposed regulations this week for Section 199A of the Tax Cuts and Jobs Act which passed at the end of last year. NAR explains why this will help benefit real estate professionals across the U.S.
Front Yard Residential, the company formerly known as Altisource Residential, is planning a significant expansion of its single-family rental business and is forking over more than $500 million to do it. Here’s the full breakdown of the company’s next big move.
Aging housing stock tells the tale of a construction industry that continues to fall behind in the number of new homes built each year. NAHB explained the aging trend is due primarily to the slight increases in residential construction over the past decade, and it’s giving rise to a new trend in the construction industry.
Marcus & Millichap hired David Shillington to lead its financing arm. Shillington will serve as president of Marcus & Millichap Capital Corporation and brings over 30 years of experience to the firm and is taking the place of William Hughes, who announced his retirement earlier this year.
The Apartment Association of Greater Los Angeles filed a federal lawsuit against the City of Beverly Hills on behalf of apartment tenants and owners seeking relief from the city’s Rent Stabilization Ordinance. The crux of the case is what the plaintiffs feel is an unnecessary regulatory burden on mom-and-pop owner/operators.
Karin Comeaux
Compass Realty & Management
8880 W Sunset Rd, Ste 290
Las Vegas, NV 89148
(702) 328-4114
(702) 586-1616
