One of two defendants who have already pleaded guilty to defrauding Countrywide Home Loans on a $760,000 mortgage claims that because the loan was securitized, Countrywide didn’t face any losses. The strategy is intended to avoid a prison sentence. If the federal judge in the case agrees, the process of prosecuting mortgage fraud defendants — [...]
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Mortgage Fraud Defendant Claims Lender Lost Nothing on Securitized Loan
February 20th, 2012 
davidguide 
Posted in Business Loans 
Tags: countrywide home loans, defendant claims, federal judge, mortgage fraud, prison sentence 
Comments OffYSPs At Issue in $1 Million Settlement
May 28th, 2011 davidguide 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 [...]
Posted in Business Loans Tags: class action lawsuit, Fairway, Independent, independent mortgage corp, Lead, Mortgage, mortgage fraud, settlement, spread premiums, yield, YSPs Comments OffNews In Brief: Mortgage fraud, Disney, Goldman Sachs
May 11th, 2011 davidguide While overall mortgage fraud reports are down, California continues to be among the worst states in terms of such crime — trailing only New York and Florida for fraud on loans originated in 2010. View full post on Business Stories
Posted in Business Structures Tags: Business, Business Loans, crime, Disney, fraud reports, goldman sachs, Mortgage, mortgage fraud, post, Sachs, View Comments OffAMCs Blamed for Lower FMVs
February 17th, 2011 davidguide Some in the real estate industry say appraisal management companies often assign appraisers unfamiliar with the neighborhood. The AMCs often choose the cheapest appraisers, one appraiser claims, and sometimes those are the ones with the least experience. But even though some blame the AMCs for low appraisals, others say it’s still better than before, when [...]
Posted in Business Loans Tags: appraisal management, appraisals, appraiser, appraisers, FMVs, fraud, management companies, Mortgage, mortgage fraud, neighborhood, post Comments Off
