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Broker Gets Five Years in Prison for $32M Mortgage Fraud

Broker Gets Five Years in Prison for $32M Mortgage Fraud

Wednesday, 25 November 2020
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A Boulder, Colo., mortgage broker has received a federal prison sentence of five years for orchestrating a scam that ripped off a bank to the tune of almost $32 million in bogus residential mortgage loans. So reports CBS Denver. Read more...
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Ask The Expert: Why Can't We Get Better Predictions? 

Ask The Expert: Why Can't We Get Better Predictions? 

Thursday, 19 November 2020
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Several loan officers have written me and asked a question like this: I understand why no one could have predicted the pandemic. However, it seems to me that we should have geared up for lower rates as soon as it happened. Why did it seem like these record low rates and the increase in business… Read more...
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What Mortgage Originators Can Learn From Chess

What Mortgage Originators Can Learn From Chess

Wednesday, 18 November 2020
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In my training classes for originators, I often compare selling to sports to help students understand key concepts. The analogy works because students can easily relate to the similarities—the competition, the emotional highs and lows, and the identification of clear winners and losers at the end of a game. While all of this is true,… Read more...
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James B. Nutter & Co. Faces DOJ Fraud Lawsuit

James B. Nutter & Co. Faces DOJ Fraud Lawsuit

Friday, 13 November 2020
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The Department of Justice has hit James B. Nutter & Co. with a civil lawsuit claiming improprieties in the Kansas City home lender’s reverse mortgage business. So reports the Kansas City Star. Read more...
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Better.com Eyes IPO Worth More Than $4B

Better.com Eyes IPO Worth More Than $4B

Friday, 13 November 2020
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Better.com is working with Morgan Stanley and Bank of America on plans for an initial public offering that could happen as early as January, according to sources familiar with the situation. So reports Bloomberg. Read more...
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Rocket CEO Credits Tech Spend for Record Q3 Volume

Rocket CEO Credits Tech Spend for Record Q3 Volume

Friday, 13 November 2020
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Rocket Companies CEO Jay Farner has said that the mortgage lender’s record third-quarter loan volume is thanks to investments it made in technology. So reports CNBC. Read more...
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Lender Price Adds Quontic Bank to Digital Mortgage Marketplace

Lender Price Adds Quontic Bank to Digital Mortgage Marketplace

Friday, 06 November 2020
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Lender Price, which offers mortgage loan pricing and origination technology, has introduced multi-channel digital lender Quontic Bank to its Lender Price Marketplace. Read more...
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'Mortgage Recovery' Tax Fraudster Gets 6.5 Years in Prison

'Mortgage Recovery' Tax Fraudster Gets 6.5 Years in Prison

Friday, 06 November 2020
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The leader of a $2.5 million “mortgage recovery” tax scheme must serve six and a half years in federal prison, a judge has ordered. So reports the Atlantic City, N.J., Daily Voice. Read more...
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Roofing Exec May Lose Boat Over Alleged COVID-19 Scam

Roofing Exec May Lose Boat Over Alleged COVID-19 Scam

Friday, 06 November 2020
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Federal authorities have added mortgage fraud to the list of charges against Florida roofing executive Casey David Crowther, already indicted for allegedly misusing coronavirus relief funds. So reports Business Observer. Read more...
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The Real Reason Why Originators Lose Customers

The Real Reason Why Originators Lose Customers

Wednesday, 11 November 2020
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With borrowers still coming to originators in droves because of low interest rates, losing referral sources or former customers doesn’t seem like a big deal. There is always someone else to replace them in a hot market. Read more...
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