Lenders Lose FHA Approval
Five mortgage lenders, including a branch of the largest U.S. mortgage broker, have lost their approval to originate FHA-insured loans.

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Mortgage Industry News
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Exclusive Mortgage Brand
A Washington, D.C., company is luring mortgage bankers and
large mortgage brokers to its exclusive network of honest
originators with a lucrative national ad campaign.

Net Branch Shuts Down
Citing a continuing business slowdown, a Texas-based branch network has closed.

Option Five Mortgage
A Silicon Valley-based wholesaler is offering a 2% start rate that doesn't reset for five years.

Wholesale Unit Launched
A New York investment banker is stepping into wholesale mortgage lending

Atlanta Originators Lose Licenses
Georgia regulators have pulled the licenses of two mortgage brokers as they continue to aggressively attack what has been rampant fraud throughout the state. The latest cases involve poor record keeping and outright fraud.

Inside Job at Mortgage Company
A New Jersey mortgage loan officer, apparently short on loan closings, resorted to stealing from his employer.

Subprime Retailer Lays Off 100
The subprime subsidiary of American International Group has shut down retail call centers.

HUD Complaint Filed Against Allied
A civil rights complaint has been filed against Allied Home Mortgage Capital Corp. alleging the national mortgage broker discriminates against African Americans.

Broker Sues Freddie Over Blacklisting
When a California mortgage broker decided to share his yield spread premiums with borrowers, his business boomed and customers lined up to repeatedly refinance their home loans. But when Freddie Mac found out about the practice, the party was over.

American Home Unit Settles Fraud Allegations
A subsidiary of American Home Mortgage Investment Corp. has agreed to pay $800,000 to settle civil allegations of fraud brought by the Department of Housing and Urban Development.

Read the full text of these articles and many more at: www.MortgageDaily.com


Sam Garcia
Mortgage Industry News

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