A settlement in a class-action lawsuit will cost Fairway Independent Mortgage Corp. more than $1 million. At issue are alleged undisclosed yield spread premiums and claims of mortgage fraud by a Missouri originator. The lead plaintiffs claim that Fairway, as a mortgage broker, had a fiduciary duty to provide them with the least expensive loan [...]
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YSPs At Issue in $1 Million Settlement
May 28th, 2011 
davidguide 
Posted in Business Loans 
Tags: class action lawsuit, Fairway, Independent, independent mortgage corp, Lead, Mortgage, mortgage fraud, settlement, spread premiums, yield, YSPs 
Comments OffFairway Lifts Annual Originations, Recruiting LOs
January 24th, 2011 davidguide Home-loan fundings at Fairway Independent Mortgage Corp. increased 15 percent between 2009 and last year, according to data reported by the company. It was an all-time high for Fairway. This year, efforts will be focused on recruiting loan officers who become available as a result of new compensation rules. View full post on Mortgage Stories
Posted in Business Loans Tags: compensation rules, Fairway, fundings, Independent, independent mortgage corp, Lifts, loan officers, Originations, percent, result Comments OffFHA Third-Party Program Launched
October 24th, 2010 davidguide Fairway Independent Mortgage Corp. announced a new third-party origination program. The program is for loans insured by the Federal Housing Administration. According to the company, options available inlcude a referral relationship, traditional brokering and correspondent lending. View full post on Mortgage Stories
Posted in Business Loans Tags: Corp, correspondent lending, Fairway, federal housing administration, Independent, independent mortgage corp, Launched, Mortgage, origination, origination program, program, referral relationship, ThirdParty Comments Off
