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PHH Mortgage Escapes Part of Loan Payoffs Class Action

PHH Mortgage Escapes Part of Loan Payoffs Class Action

Thursday, 18 March 2021
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PHH Mortgage, a non-bank mortgage service and originator, doesn’t have to face a portion of a proposed class action about its accounting for insurance proceeds in loan payoff statements, a federal judge has ruled. That’s according to court documents, and as Law360.com reports. Read more...
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Florida Developer Owes $26M In Sprawling Fraud Scheme

Florida Developer Owes $26M In Sprawling Fraud Scheme

Thursday, 18 March 2021
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A judge has ordered South Florida developer Joseph Walsh Sr. to pay $26 million in connection with a 60-unit Royal Palm Beach office condominium. So reports The Real Deal. Read more...
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Ask The Expert: More Strategies to Generate Referrals

Ask The Expert: More Strategies to Generate Referrals

Monday, 15 March 2021
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In my last column, I answered a question from a "Struggling Loan Officer." Here are some more thoughts on the topic. Read more...
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Are Your Originators Ready for a Purchase Money Market?

Are Your Originators Ready for a Purchase Money Market?

Monday, 15 March 2021
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While mortgage rates are still historically low, many lenders were caught off guard when rates recently rose. They thought that interest rates wouldn’t increase until later in the year. Read more...
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Fintech Startup Plaid Launches Income Verification Tool

Fintech Startup Plaid Launches Income Verification Tool

Friday, 12 March 2021
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Plaid has unveiled a new income verification offering, called Income, which aims to help people verify their income in order to qualify for mortgages and other big-ticket commitments. So reports TechCrunch. Read more...
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Convicted Mortgage Fraudster Gets 21 Months for Auto Scam

Convicted Mortgage Fraudster Gets 21 Months for Auto Scam

Friday, 12 March 2021
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A man who was previously convicted of mortgage fraud and was serving federal supervised release has received a 21-month prison sentence for his part in a separate auto loan scam, authorities said. So reports the Middletown (Conn.) Press. Read more...
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Acquitted New York Developer Faces Fresh Fraud Charges

Acquitted New York Developer Faces Fresh Fraud Charges

Friday, 12 March 2021
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Upstate New York developer Bob Morgan, who five months earlier beat a federal mortgage fraud case, has been charged once again with mortgage fraud. So reports the Rochester (N.Y.) Democrat & Chronicle. Read more...
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Ask The Expert: How Can I Take My Production to the Next Level?

Ask The Expert: How Can I Take My Production to the Next Level?

Wednesday, 10 March 2021
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A struggling loan officer asked: I had a pretty decent year last year, but I can’t seem to get over the hump and move to the next level from a production standpoint. My biggest issue is time. I spend so much time closing loans, I can’t seem to find the time to market. What do… Read more...
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UWM CEO: Work with Rocket or Us, But Not Both

UWM CEO: Work with Rocket or Us, But Not Both

Friday, 05 March 2021
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Mat Ishbia, CEO of United Wholesale Mortgage (UMW) put mortgage brokers on notice, saying they can either work with UWM or Rocket Mortgage, parent of Quicken Loans, but not both firms. So reports The Detroit Free Press. Read more...
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Fraudster Who Didn’t Own Miami Property Tried to Sell It

Fraudster Who Didn’t Own Miami Property Tried to Sell It

Friday, 05 March 2021
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An unidentified scammer tried to sell a vacant Miami lot that a local man already owned, and this isn’t uncommon. So reports NBC Miami. Read more...
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