mortgage industry archives
No Experience Required
A company claiming to be a national mortgage brokerage is recruiting anybody it can find. But little is known about the organization behind claims those hired will earn $1,000 a week with just 7 1/2 hours of work.
CitiMortgage Rep Bribed on Broker Loans
Two California mortgage brokers have admitted in federal court to paying nearly $50,000 in bribes to a Missouri mortgage agent in a scheme to get favorable loan terms.
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13 Indicted in Georgia Case
Mortgage players from several companies were caught up in a criminal fraud ring responsible for what has been called the largest mortgage fraud case ever in one Georgia community.
Ameriquest Settlement Coincides with Bush Nomination
As Ameriquest Mortgage Co. sets aside $325 million for a potential settlement with regulators in 30 states over allegations of unfair lending practices, the firm's billionaire founder is being considered for a U.S. Ambassador post.
Net Branch Launching U.S. Operation
The chief of a Canadian mortgage company launching a U.S. net branch franchise claims American brokers will have an increasingly tougher time staying in business on their own. But competitors say the company's business model conflicts with HUD guidelines and with licensing regulations in some states.
Ameriquest Founder's Nomination Draws Criticism
Ameriquest Capital founder and co-chairman has been nominated by President George Bush to be ambassador to the Netherlands. But critics covering the nomination suggest the tycoon may have bought the coveted appointment with millions of dollars in campaign contributions.
Court Rules Against Lender in Mo. Doc Prep Case
More than 60,000 holders of home mortgages in Missouri could get checks in the mail they weren't expecting over the next two years if a Clayton law firm continues to win cases against banks and other lenders over an obscure issue.
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