Exploring recent trends in digital originations for mortgage lenders, highlighting the role of fintech and AI in reshaping the lending process.
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Oklahoma City-based mortgage company First Mortgage Co. and owner Ron McCord must pay warehouse lender CapLoc $31 million plus interest, a Manhattan federal judge has ruled. So reports NEXT Mortgage News.
McCord, an ex-chair of the Mortgage Bankers Association, was sentenced to prison in November 2021 on fraud charges.
U.S. District Court Judge Jed Rakoff’s order follows notification that the parties have settled a court case, dating to 2017, that involved claims of fraud and breach of contract.
