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Biggest Mortgage News of 2004

$10 Million Broker is Icon of 2003
Mortgage broker Leif Thomsen, 43, the owner of Massachusetts-based Mortgage Master Inc., is's Mortgage Icon of the Year, not only for his hefty earnings -- but also because of his success in the business.
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WaMu Suing IndyMac
Two of the nation's largest mortgage lenders are in a $50 million court fight.
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Net Branch Company Shuts Doors
Can a company that brokered $1.5 billion in loans last year disappear? That's the conclusion one can draw from a somewhat cryptic letter vendors received last week.
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Credit Rescoring Can Increase Production
Credit scores are the cornerstone of most mortgage loan approvals. And while many loan originators prefer to service borrowers whose credit scores qualify them for a conforming loan, a good deal of applicants with nonconforming credit can immediately increase their scores by using rescoring services.
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$38 Million Scam Ends in Tragedy
Ben Stewart, a prominent member of a well known family in a southern small town, took horrific steps to end the humiliation of being exposed as a Ponzi scheme operator. Among the companies used in the $38 million scam was his mortgage brokerage.
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Success Strategies for Rising Rates
With rates going up, the question often arises; What can I do to make sure I succeed in what looks to be a more difficult selling environment?
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Lead Generation Techniques
With dwindling refinances bringing gloomier days for many mortgage brokers and originators, two organizations are offering services that may brighten up business by helping to generate new loan prospects.
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Fugitive Pair On Mortgage Fraud Spree
They are the Bonnie and Clyde of mortgage scams. Federal agents and police in Georgia and Florida are on the lookout for a couple on a crime spree involving stolen identities, phony mortgage documents and as much as $4.5 million in stolen cash.
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photo of fugitives

Billions in Mortgage Fraud, FBI Says
Organized crime has taken on a new face, and it's not that of mobsters with names like "Sammy the Bull."
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Florida Firm Adding 4800 Originators This Year
A small Florida mortgage company estimates it will grow its virtual loan originator staff by leaps and bounds over the next few months with recruits that meet only a few basic requirements.
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Wholesaler Goes After Broker, Appraiser in Court
Who would pay $68,000 for a house with no kitchen, bathroom or furnace? Particularly when it's worth just $23,000?
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String of Murders Hit Mortgage Industry
For the third time in a matter of days a person who worked in the mortgage industry has been murdered. But a history of mortgage fraud and a choice to turn against other members in a fraud ring provide possible clues to the motive in this case.
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Sam Garcia
Mortgage Industry News

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