Michigan title agents suspended over alleged mismanagement of escrow funds

Two Oakland County, Michigan, title insurance agents have had their licenses suspended following allegations of misappropriating millions in escrow funds.The agents are also accused of failing to cooperate with auditors and a state investigation — as well as contributing to at least one homeowner’s
Read MoreBipartisan legislation aims to expand ADU financing

A bipartisan bill introduced last week in the U.S. House of Representatives seeks to address the nation’s housing shortage by expanding financing options for accessory dwelling units (ADUs).Reps. Sam Liccardo (D-Calif.) and Andrew Garbarino (R-N.Y.) unveiled H.R. 4568 — the Supporting Upgraded Prope
Read MoreHomeStreet to sell $794M in Ginnie Mae MSRs

Seattle-based HomeStreet Bank has agreed to sell its $794 million Ginnie Mae loan servicing portfolio to an undisclosed “experienced” buyer, the company announced in a regulatory filing. The transaction is scheduled to close on August 1. “As HomeStreet carried this servicing portfolio at current mar
Read MoreNAF launches multimillion-dollar marketing campaign

New American Funding (NAF) on Tuesday launched its new “Hell Yeah You’re Buying a Home” marketing campaign that’s designed to “energize and empower” the next generation of first-time homebuyers.According to a press release from the California-based mortgage lender, the campaign was crafted in collab
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