The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Zillow and Compass hearing begins Tuesday, Nov. 18 On Tuesday, Nov. 18, Compass and Zillow will meet in court for a scheduled four-day hearing held in New York City, the latest round in the ongoing…
Government-sponsored enterprise (GSE) Fannie Mae employs an automated Desktop Underwriter (DU) system. Now, with a recent change in policy, lenders will face one less hurdle in giving loans out processed through the system. Previously, the DU system required that a borrower have a minimum credit score of 620 (or a cumulative minimum of 620 for…
With the future of Fannie Mae in flux due to President Trump’s stated desire to potentially privatize it, CEO Priscilla Almodovar stepped down as the head of the mortgage giant on Oct. 22, with Peter Akwaboah, Fannie Mae’s current COO, appointed to the additional role of acting CEO of Fannie Mae, according to William J.…
When the Trump Administration floated the idea of merging Fannie Mae and Freddie Mac into a single “Great American Mortgage Corporation” and taking it public, the announcement didn’t come through a press conference or news release. Instead, the president himself shared it via social media, sparking intense speculation. It’s one of many examples emerging from…
Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. – Rocket, United Wholesale Mortgage (UWM) and 24 major lenders have been named in a lawsuit alleging price-fixing amongst the organizations. The suit alleges that the lenders collaborated with mortgage software provider Optimal Blue…
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