Or, should I say settlements (plural)? This time, the Department of Justice settled two actions brought under the False Claims Act against two separate Utah-based lenders. The total settlement was close to $10 million. Primary Residential Mortgage (PRMI) agreed to pay $5 million while SecurityNational Mortgage (SNMC) chipped in another $4.25 million. Both are independent mortgage companies, not big banks…
Way too many years ago, when I first started in the mortgage business, the emphasis was still on loan originations. But, it was also on the loan’s ongoing performance. Lenders originated but most also serviced the loans they made. Independent Mortgage Lenders and some Banks originated government loans that were sold into Ginnie Mae pools. Other Banks and S &…
In a constant search to find ways to help consumers improve their credit profile, U.S. Bank has partnered with Sage Software to provide their customers’ access to a new accounting product dubbed AP Organizer (Improved Credit). U.S. Bank believes that doing so will help their customers, especially Millennials, find ways to better manage their resources to improve payment patterns on…
The other day I mentioned that FHA has declared June as National Homeownership Month with its theme of “Dare to Own the Dream”. Well, come to find out, from my good friend (and now retired) Gerry Glavey, that this is quite common. June has been designated as Homeownership Month for many years – under both Republican and Democratic administrations. The…
It looks as though the spring buying season may be extending into summer. So, mortgage lenders need more people to handle the business. Some still say that 2016 is going to be a breakout year for new home sales with Millennials jumping into home ownership. That’s good news but that also presents some real challenges for mortgage lenders. With improving…
Are you aware that FHA declared June as National Homeownership Month? They even have a theme: “Dare to Own the Dream.” Sounds a little ominous… Julian Castro, HUD Secretary, says it’s a good time to reflect on all that the Obama Administration has done to ensure that homeownership is well within the reach of the average American family. Really? Like…
