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Legend - Latest News
Big Centex Homes Business- Nationstar Mortgage Pays $1.3 Billion for $215 Billion
Wednesday, 09 January 2013

Lewisville-based Nationstar buys mortgage servicing rights from Bank of America
Nationstar Mortgage Holdings, which started out as the mortgage operation for Dallas-based Centex Homes, will buy $215 billion in mortgage servicing rights from Bank of America, which has been slashing its mortgage business in the wake of the financial crisis. It will pay $1.3 billion for the portfolio, which will more than double its customer base to 2.5 million. Mortgage servicers handle the payments on outstanding mortgages, forwarding proceeds to the mortgage holder and dealing with loan delinquencies and foreclosures when necessary. Nationstar, based in Lewisville, says it serviced approximately one million loans with total unpaid principal balances of $198 billion as of Sept. 30. It has about 4,100 employees at facilities around the country, including a call center in Lewisville.

 
Centex Avoids Responsibility
Saturday, 27 October 2012

HOA fights for answers
There are more than 200 homes in the Wynston subdivision in Clayton. Recently, the HOA received a warning from the Town of Clayton letting them know the berms weren't up to code..."We didn't even really have an idea that the problem even occurred until the complaint was brought to our attention, some 10 years after the residency was built," homeowner Matt Katlen said. Centex developed the subdivision back in 1999.Katlen did some digging and found a document that dates back to 1999 from Centex's consultants. The letter addressed to the Town of Clayton's Planning and Inspections Department lets the town know Centex did not include the landscaping detail the town requested. The letter even provided a drawing showing the trees and shrubs that should be put in along the berms. The letter states this landscaping buffer will be added to the plans.More than 13 years later, the HOA wants the builder, Centex, to do what they say needed to be done back in 1999.

Read more...
 
Pulte-Centex Force Homeowners to Binding Arbitration
Tuesday, 23 October 2012

Rivermist owners look to arbitration
Home Owners for Better Building warned Rivermist homeowners about getting suckered into forced binding arbitration. Now after all these years wasted… The claims against Pulte Homes Inc. were dismissed in June after the court found that the parent company itself doesn't perform work in Texas. The case against Centex was dropped in September because the homeowners are subject to a binding arbitration agreement with the home builder, the court documents state. This latest decision affected Pulte Homes of Texas. "We have no choice at this point," Vick said. "It's either that or appeal the ruling on arbitration, which we don't intend to do. I don't agree with the court's ruling, but we certainly are in the process of going to the arbitration side."

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Cibolo Mayor and council seek to reign in shoddy homebuilding
Saturday, 13 October 2012

Raising the roof over homes
For months, several homeowners in the Falcon Ridge and Bentwood Ranch subdivisions have claimed the home builder sold them defective houses, and already the City Council has taken steps to protect its residents by drafting a stricter building code. Since the beginning of the year, the city of Cibolo has put in place code that requires home builders to conduct more soil testing and that requires engineers to certify a building's design fits with the soil test results, Mayor Pro-tem Stever Liparoto said. Cibolo Mayor Jennifer Hartman is one homeowner whose house has foundation issues...  “There seems to be a big difference between the home builders and the engineers (as to) what constitutes a failure,” Liparoto said. “My thought is that if it costs the homeowner money or decreases their value, it's a failure.”

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D R Horton Homeowners Ask Cibolo City Council For Home Lemon Law
Wednesday, 26 September 2012

Cibolo homeowners ask city hall for more home builder regulation
For years now, people have complained their homes are built on poor foundations that are crumbling and sliding beneath their feet. Until lately, the fight’s been with individual builders of those subdivisions but now the battleground is shifting to city hall.

Read more...
 
Pulte Homes Failures
Sunday, 23 September 2012

More Pulte Construction Defects
Like a spreading desease Pulte Homes are falling down... Dishonest proved to be highly profitable on the way to becoming giants of the home construction industry. They have gone where no one would dare to go – the swampland, the corn fields, the fertile cow pastures...Under construction - see the first video, Bricks Rock!

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Contaminated Drywall Safety Act of 2012
Saturday, 22 September 2012

CONSUMER ALERT:National Association of Home Builders
NAHB and its lobbyist want to make sure Congress does not empower the Consumer Product Safety Commission (CPSC) with regulatory powers over its industry.   Their objective is to assure limitations of builder responsibility for use of defective products.  In a letter drafted with the usual building industry political style to the Speaker of the House over concerns with H.R. 4212, Contaminated Drywall Safety Act of 2012, which seeks to prevent the introduction of unsafe drywall, ...

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Pulte Wrecking Crew Demolish New Homes
Thursday, 20 September 2012

Pair of Fairhaven homes vanish at hands of Pulte wrecking crew
It’s not something you see every day in a new neighborhood: demolition crews taking down homes that are less than a few years old.  With months of complaints from some property owners about cracked foundations, cracked tile and walls separating, Pulte Homes said it had hired an independent engineer to examine some of Fairhaven’s troublesome houses back in July. Two months later, in a letter to the community that came with the wrecking ball, the company said, computerized testing “found foundation issues at sufficient depth” at some locations.

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Schertz - 2 Year Old Pulte Homes Torn Down
Thursday, 20 September 2012

Pulte demolishes homes beyond repair
It's been an unstable situation for months. In November of 2011 homeowners began to report cracked foundations. The two homes demolished Wednesday morning couldn't be repaired, so for now Pulte is paying for housing for the two families until their homes are completed in December.

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Schertz Defective Pulte Home Demolished
Thursday, 20 September 2012

FOX 29 Builder Demolishes Schertz Homes  See video report...
Pulte Homes is demolishing homes that it built in Schertz. Homeowners in the Fairhaven subdivision say they've had foundation problems which have led to numerous issues. Today, Pulte started the demolition process on two homes. Neighbor Melinda Ruiz says, "Well, it just kind of proves everything we've been saying. There's stuff wrong with this neighborhood."  Pulte released a statement which says it will demolish and rebuild several homes in the community. It says the work should be done by the end of the year.Builder Demolishes Schertz Homes See video report...   Schertz Homes.  See video report...

 
EDITORIAL OPINION: Home Builder Profits will be Greater
Sunday, 19 August 2012

EDITORIAL OPINION: Home Builder Profits will be Greater
The history of homebuilding is littered with controversy. The industry has successfully perfected the art of marketing illusions of not so well-built new homes with emboldened promotions that overstate values of worthless warranties. Dishonesty proved to be highly profitable on the way to becoming giants of the home construction industry, but proved to be mere pocket change compared to its major roll played in the world market of big time mortgage fraud; proving that crime does indeed pay...As Investment Bankers and Wall Street Tycoons are called to answer before Congress, their homebuilding counterparts are conspicuously absent to explain their massive lending fraud that played significantly in the collapse of the nation’s economy.
Read more...

 
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