Explore the evolving landscape of mortgage origination, influenced by shifting interest rates, housing market dynamics, and regulatory changes. Discover strategies for lenders to adapt and thrive in this dynamic environment.
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A call center manager in Everett, Washington used many thousands of bogus mail ads to bilk about 1,000 homeowners out of $2.5 million, according to federal charges. So reports the Everett Herald.
Josh Herrera, 34, has pleaded guilty to conspiracy to commit wire fraud in connection with the allegations.
The ads falsely told homeowners that their mortgage rates could be cut to 2% and their principal balance lowered by $140,000 under a new government program.
