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|");document.write("loanDepot, AMC Settle Claims of Discrimination|
loanDepot.com LLC and an appraisal management company have reached an agreement to settle claims that borrowers were discriminated against because their properties were located on Indian reservations.
A North Dakota couple and a California homeowner both filed complaints last year with the Department of Housing and Urban Development claiming they were discriminated against because of their race.
In both cases, the homeowners applied to refinance their properties which were located on American Indian Reservations. The houses were owned in fee simple.
");document.write("100s of Real Estate Lending Layoffs at USAA
Hundreds of positions in USAA's real estate lending and rewards divisions are being eliminated. Affected employees work at locations in three states.
Positions in the San Antonio, Texas-based financial institution's real estate lending and real estate rewards network operations are being eliminated, the company said in a written statement.
The layoffs will take effect in mid-November, the statement said. Employees affected by the job cuts are located in San Antonio, Texas; Tampa, Florida; and Phoenix.
");document.write("2018 Mortgage Origination Outlook Cut Due to Refis
Monthly secondary mortgage volume ascended to the highest level this year at the Federal Home Loan Mortgage Corp. Serious mortgage delinquency, meanwhile, descended to a fresh new post-crisis low.
McLean, Virginia-based Freddie Mac's total mortgage portfolio was $2.1472 trillion as of Aug. 31, according to its Monthly Volume Summary: August 2018 released Tuesday.
Last month's book of business was comprised of a $0.2345 trillion mortgage-related investment portfolio and $1.9127 trillion in outstanding mortgage-related securities and other guarantees.
");document.write("United Shore Returns Nearly $2 Mil in Tax Breaks
United Shore Financial Services Inc. has returned nearly $2 million in tax breaks it received for relocating its headquarters in Southeast Michigan -- leaving the funds available for schools and the community.
In June, the company moved from Troy to its new headquarters in Pontiac. Around $85 million was spent to buy and renovate the former General Motors location.
United Shore received $1.9 million in brownfield financing from the Oakland County Brownfield Redevelopment Authority to build its new headquarters in Pontiac.
");document.write("Proprietary Reverse Mortgage Programs Proliferate
As home equity among seniors continues to balloon, the pace of government-insured reverse mortgage lending has slowed. But several proprietary programs have been created to pick up the slack -- including a new second-lien product.
Data from the National Reverse Mortgage Lenders Association indicate that homeowners who are at least 62 years old had $6.9 trillion in equity as of the second quarter of this year.
Compared to the first quarter, senior home equity has expanded by $130 billion. Behind the improved equity positions of older Americans are home values, which increased by $143 billion.