If there's one thing that an investor will never let any originator off the buyback hook for, it's fraud . Not only that, but the penalties can go far beyond merely buying back the loan, and saying' "My bad." Just in the last few days, Laura-Jean Arvelo and Ronald O'Malley, a New Jersey mortgage broker...
An aggressive stand against fraud by lenders is having an impact according to a new study, but attempted fraud is still a problem in a significant percentage of loan applications and the nature of the fraud itself is changing. The 2010 Mortgage Fraud Trends Report released today by CoreLogic is based...
Practically every investor put out rate changes for the better yesterday, even after we rallied from the jobless claims and manufacturing data. Even stocks improved. "Fannie 4's", which generally contain 30-yr 4.25-4.625% mortgages, are now above par. Although the security price is now...
From HUD : The U.S. Department of Housing and Urban Development, in partnership with the Loan Modification Scam Prevention Network, today announced the launch of PreventLoanScams.org “Homeowners at risk of foreclosure can be easy prey for home loan modification scammers. Often, dishonest individuals...