In early 2021, the United States Congress enacted the Corporate Transparency Act (CTA) to help federal agencies combat money laundering and other financial crimes. The law went into effect on January 1, 2024. It requires about 33 million small businesses, including real estate organizations, to report beneficial owner information (BOI)…
Continue reading →Non-QM wholesale lender Angel Oak Mortgage Solutions (AOMS) has promoted longtime production head Tom Hutchens to president. The Atlanta-based company, which is part of the larger family of Angel Oak mortgage entities, said John Jeanmonod, formerly Angel Oak’s regional vice president of sales, would replace Hutchens as executive VP of…
Continue reading →Denver-based Realtor Bret Weinstein took on a client whose house had been on the market for 60 days. Despite dropping the price to $625,000 from $650,000, it sat for another 45 days with no offers. Another price cut to $600,000 didn’t help either, as it resulted in another 20 days…
Continue reading →The Federal Housing Finance Agency (FHFA) Office of the Inspector General (OIG) has warned the agency that it has serious network security deficiencies that leave its computer systems vulnerable to hacking, based on “penetration testing” the OIG performed. This is according to a report issued by the FHFA OIG itself….
Continue reading →Onity Group, parent company of top five reverse mortgage lender and servicer Liberty Reverse Mortgage, will acquire reverse mortgage assets from Mortgage Assets Management, LLC (MAM), a subsidiary of investment funds managed by Waterfall Asset Management. The deal, initially announced by Onity during its Q2 earnings call, suggests that Waterfall…
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