Mortgage lenders

Management while she was working for the Countrywide Financial Corp. This role requires our whistleblower to supervise and monitor internal bank processes and mortgage fraud investigations, if needed, organize and send conclusion in the form of suspicious activity report to the U.S. Treasury as well as the board of directors. During her time, she learned that Full Spectrum Lending Division (FSL) managers in the Boston area were subject to several fraud allegations, she directed an investigation into the matter, found conclusive evidence of “egregious fraud”, including document and invoice forgery,…

‘Joe Schmo’ lenders double stake in Canada’s mortgage market Since 2007, alternative lenders have increased their share of Canada’s $1.4 trillion mortgage market to 13% from 6.7%. Falling outside the responsibility of Canada’s banking regulators, these alternative lenders are increasing risks in the very housing sector they operate in. Bank’s Retreat: In recent years these lenders have been expanding. With the reduction in amortization periods and the need for employment verification having…

Yes, indeed, the real estate and mortgage meltdown did have a crushing impact on the United States economy. No one knows that better than me. During the time of the real estate industry collapse, my husband worked for a company that did marketing for both the real estate and automotive industries – perhaps the two worst industries you could be involved in at that particular time. Within two years, the company went from being on the illustrious Inc Magazine “Top 500 Fastest-Growing Companies” to…

And while states differ in some areas of procedure as it pertains to the mortgage and lien foreclosure process, the system is fairly standard and the outcome remains essentially the same. Anyone who is considering the purchase of a property by bidding at a foreclosure auction must take some time to consider the factors which will affect the bidding process, how the title to the property may be passed through the system, and what sorts of clouds or claims against the title may survive the process…

If you’re frugal now, you’ll benefit later with extra money in the bank and being able to pay down more of your debt. You don’t want to appear to be a credit risk to lenders right now. Build a history of timely repayment. CONSIDER RENTING If you’re still in the house that was foreclosed you might consider staying for a while. Learn about the Freddie Mac “REO Rental Initiative”. It gives qualified individuals a chance to pay rent on a month to month basis on the foreclosed property until the…

PMI allows homebuyer’s to have more freedom in their purchase decisions and mimizes lender’s potential loses. With PMI, buyers can invest as low as 5 percent. This modification in a buyer’s overall budget as a result of purchasing PMI can benefit them in a few ways. Homebuyers can purchase a more expensive homes with less investment. For $50,000, a homebuyer with PMI can purchase a home worth $500,000. With that same $50,000 down payment, a homebuyer with a conventional mortgage can only…

and laying off their liability with swap instruments betting that mortgages would not be paid. While I’m sure that many were trying to do right by their borrowers, I almost believe that some of those bank and mortgage lender employees…

you might not want to pass up. Here are some of the common fears that new buyers have and why you should let it stop you. What if I Can’t Afford It? Everyone has heard how many hidden costs pop up during the home buying process and during the life of a homeowner. Why would you want to stop the predictable world of renting to take on these extra expenses? Many first time homeowners feel like they have to give away their lifelong savings just to purchase a house. Between the down payment,…

Foreclosure is a process by which a lender forcibly tries to sell the property of a lendee for non-payment of the loan attached to said property. In 2007 the mortgage market suffered significant foreclosure crisis. Several homeowners were finding themselves unable to make monthly payments to lending agencies, which subsequently led to mass foreclosures. According to Tatom (2009) the mortgage loan foreclosure has been the biggest economic crisis since the Great Depression. The housing market has…

regulated the financial industry. This led to different rules and standards for each entity and leaving some entities completely unregulated (Morrison and Foerster). The Dodd-Frank act aimed to put the US under one regulation and oversight system. This act resulted in many fundamental changes to the US financial system; holding eight components that make it difficult for a repeat of the financial crisis. Some of these components are things such as overseeing wall street, regulating risky…