Net Branch Update
In addition to the stability afforded by bigger organizations -- net branch recruiters are promoting search engine help, government loan programs and high commission rates for prospective branches. Attendees to a recent net branch conference were highly optimistic about originations because of reduced competition.
Bob Duane and Cary Hise were recognized for their top producing branch at PrimeSource Mortgage Inc.'s 18th annual conference during January in Albuquerque, N.M., a press release said. Last year, volume at the Grapevine, Texas, branch doubled from 2008.
Roswell, N.M.-based PrimeSource, which noted that the conference was attended by a majority of its 35 branch owners, awarded branch of the year to an office in Amarillo, Texas, led by David Rieff.
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Range of Lawsuits Confront Lenders
Issues that mortgage firms are currently confronting in court include the calculation of interest, reverse mortgage advertisements and violation of the Equal Credit Opportunity Act. Mortgage insurance and employment issues are also being litigated.
Ditech to Continue Advertising
Ditech has robust advertising plans despite news that it has stopped advertising. But the online lender has changed its operating model.
Reverse Requirements Revised
Proposed reverse mortgage requirements at financial institutions wouldn't apply to proprietary products. Reverse program updates were announced for Federal Housing Administration loans and for servicers of Federal National Mortgage Association loans, while a trade group hosted an online event about reverse mortgage advertising.
Q3 Mortgage Advertising Lawsuits
Journal of lawsuits during the third-quarter 2009 about mortgage advertising, bait and switch ads, deceptive ads and do-not-call violations.
Mortgage Advertising Lawsuits During Q2
Journal of lawsuits during the second quarter about mortgage advertising, bait and switch ads, deceptive ads and do-not-call violations.
Judge Rules on FICO Vs. VantageScore
A federal judge has dismissed a claim that the one of the three credit agencies violated its contract with FICO by developing a competing credit scoring model. She also dismissed claims of antitrust violations and false advertising -- despite the possibility that the three might have tried to put FICO out of business. But FICO can proceed with its claim of trademark infringement tied to range of credit score values used in the VantageScore.
Study Finds Misleading HECM Marketing
A new government report indicated that counselors for reverse mortgages often fail to meet all required counseling requirements. The report also highlighted concerns about reverse mortgage advertisements.
Direct Mail Volume Stabilizes
After two years of declines, direct mail volume by U.S. mortgage lenders might be near a bottom.
1st-Quarter 2009 Advertising Lawsuits
Journal of lawsuits during the first-quarter 2009 about mortgage advertising, bait and switch ads, deceptive ads and do-not-call violations.
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