Yesterday, I wrote about a Gallup Poll that indicated people were not optimistic about homeownership. Well, today we hear that banks are excited about a resurgence on home purchases (Home Purchases). What does it all mean? Who do you believe? Take a minute and read this article and you may get more confused. Refinances were good in January and February,…
It must be true because I read it in the newspapers. Right? Not necessarily. Headlines and related articles can be written to be deceiving. Take this headline (Optimism). Based on the headline, one would be led to believe that today, according to a Gallup Poll, people are not too optimistic about owning a home. Gallup is a pretty reputable polling…
Now, here’s the other side. The DOJ has filed suit against Quicken loans for the improper origination of FHA-insured loans (Return Fire). DOJ alleges that Quicken was somewhat remiss in their underwriting and approval of the FHA loans in question. The battle lines are drawn. Quicken says they didn’t do anything wrong. DOJ says they made hundreds of FHA loans…
A recent study conducted by Inman, a real estate information firm, found that almost 50% of the realtors surveyed preferred to do business with a Mortgage Broker, over a Bank or Independent Mortgage Banker (Preference). Surprised? Maybe you shouldn’t be. Brokers have become a little more flexible when it comes to courting Realtors and other business sources, than other mortgage…
You may know him better from the reality TV show on Bravo, “Real Housewives of New Jersey”, but Jim Marchese, a mortgage lender, is a real live whistle-blower. You can’t make this stuff up! Mr. Marchese blew the whistle not once but twice, on two different companies, and received substantial rewards to the tune of about $18 million (Whistle-blower). Read…
Have you heard about the one where the lender sues the government for false accusations? Who says you can’t fight city hall? One lender, Quicken Loans is fighting back against claims made by the DOJ (False Claims). Quicken, one of the nation’s largest originators of FHA insured loans, has decided it has had enough and isn’t going to take the…
