CoreLogic completed its acquisition of all outstanding shares of ClosingCorp. Through this acquisition, CoreLogic will expand its suite of digital solutions to enhance the homebuying process for buyers and sellers, according to the company. Read on for more about the acquisition.
Zillow Offers, the iBuying arm of Zillow, announced it will not sign any new contracts to purchase homes through the end of the year “due to a backlog in renovations and operational capacity constraints.” Read on for more.
Axis Technical Group launched Axis Smart Data Extraction for land and title documents. The new subscription service improves efficiency by accelerating the process of how data is extracted from unstructured documents, according to the company. Read on for more.
A Hawaii borrower sued his servicers for allegedly entering into co-marketing agreements using online platforms and desk rental agreements to illegally refer mortgage loan business. The borrower, who also claimed the servicers failed to provide him with the required right to rescind disclosure, sought rescission of his loan and statutory damages under TRID.
The Consumer Financial Protection Bureau has taken action against the prison financial services company JPay, which is accused of violating the Consumer Financial Protection Act by charging consumers fees to access their own money on prepaid debit cards that consumers were forced to use.
The Consumer Financial Protection Bureau, Federal Trade Commission and North Carolina Department of Justice have banned together to file an amicus brief in support of the consumer plaintiffs in a case filed against a public records website.
The Federal Deposit of Insurance Corp. announced a series of steps intended to provide regulatory relief to financial institutions and speed up recovery in areas of Pennsylvania affected by Hurricane Ida. The agency told bankers prudent efforts to adjust terms on existing loans in affected areas should not be subject to examiner criticism.
A Florida title agency sought coverage under its cyber insurance policy’s cybercrime endorsement after it became the victim of wire fraud. The claim was denied, and the agency filed suit. Both parties eventually moved for summary judgment.
The Financial Crimes Enforcement Network issued a report on ransomware trends in Bank Secrecy Act reporting filed between January and June 2021. The report was issued pursuant to the Anti-Money Laundering Act of 2020 and shows ransomware is an increasing threat.
The California General Assembly adopted legislation that makes unenforceable against an affordable housing development any restrictive covenant that restricts the number or size of the residences that may be built on a property.
In Seller/Servicer Guide Bulletin 2021-31, Freddie Mac addressed revisions to seller/servicer and related third-party risk mitigation requirements and updates to its lost note affidavit requirements, among other things.
Recently aware that some communities have historically been one race or another, an increased number of buyers are adding “racially diverse neighborhood” to their list of must-haves. But that doesn’t always help lower-income neighborhoods if it causes gentrification and rising home prices.