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FHA Requires Lenders to Start Using SCIF

FHA Requires Lenders to Start Using SCIF

by Phil Hall | Jun 27, 2023 | Mortgage Information, News/Current Events, Real Estate News, WRE News Exclusive

The Federal Housing Administration (FHA) will require lenders to use the Supplemental Consumer Information Form (SCIF) when originating mortgages for FHA insurance. The SCIF (Fannie Mae/Freddie Mac Form 1103) is used during the mortgage application process and enables...
Bay Area Cabin Where Charles M. Schulz Drew ‘Peanuts’ Listed at $4 Million

Bay Area Cabin Where Charles M. Schulz Drew ‘Peanuts’ Listed at $4 Million

by Phil Hall | Jun 27, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The California cabin that was once the home and studio of “Peanuts” cartoonist Charles M. Schulz has been listed for sale at $4 million. Located in the Bay Area city of Sebastopol, the residence has one bedroom, one-and-a-half bathrooms and a two-car garage. The...
Home Sales Up While Prices Decline

Home Sales Up While Prices Decline

by Phil Hall | Jun 27, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Two new data reports pointed to an increase in U.S. single-family home sales and a decline in home prices. The U.S. Census Bureau and Department of Housing and Urban Development reported sales of new single‐family houses during May were at a seasonally adjusted annual...
CFPB Enacts $25M Penalty Against ACI Worldwide for Servicing Errors

CFPB Enacts $25M Penalty Against ACI Worldwide for Servicing Errors

by Phil Hall | Jun 27, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Consumer Financial Protection Bureau (CFPB) issued an order against Elkhorn, Nebraska-headquartered ACI Worldwide (NASDAQ:ACIW) and its subsidiary ACI Payments for improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions....
Geneva Financial Debuts Portfolio Lending Division

Geneva Financial Debuts Portfolio Lending Division

by Phil Hall | Jun 27, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Geneva Financial, a Chandler, Arizona-based direct mortgage lender operating in 47 states, has launched an in-house portfolio lending division. Starting with $55 million in managed funds, the new division will be a financing partner for Geneva Financial loan officers...
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