Santa Cruz Mortgage of California closed its doors this week after being in business for about 26 years.Executives at the company could not be reached for comment by MortgageWire's deadline. A few of its branches have already been picked up by BWC Mortgage of Walnut Creek, Calif. No production information was available on either company.
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
