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Real Estate Broker Pleads Guilty in Commercial Property Scam

Real Estate Broker Pleads Guilty in Commercial Property Scam

Tuesday, 13 October 2020
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A former real estate broker faces up to 80 years in federal prison after pleading guilty to four counts of wire fraud. So reports the Jacksonville (Fla.) Daily Record. Read more...
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Compass Aims at Redfin, Zillow by Acquiring Tech Startup Modus

Compass Aims at Redfin, Zillow by Acquiring Tech Startup Modus

Friday, 09 October 2020
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Real estate brokerage Compass has acquired Seattle-based fintech startup Modus in a move that ramps up competition with Redfin and Zillow. So reports The Seattle Times. Read more...
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Criminal Charges Tossed in Massive Mortgage Fraud Case

Criminal Charges Tossed in Massive Mortgage Fraud Case

Friday, 09 October 2020
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Criminal charges are off the table for upstate New York real estate developer Robert Morgan in what prosecutors alleged was a mortgage fraud scheme involving hundreds of millions of dollars. So reports the Rochester, N.Y. Democrat and Chronicle. Read more...
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Ask The Expert: Why Did Fannie, Freddie Add a Fee to Refinances

Ask The Expert: Why Did Fannie, Freddie Add a Fee to Refinances

Wednesday, 07 October 2020
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Several Originators have written: "I am completely confused as to why Fannie Mae and Freddie Mac have decided to add an extra fee to refinances. Aren't they supposed to be helping consumers? This is going to make refinancing not make economic sense for many of my clients." Read more...
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Data Firm Finicity Launches New Tools to Ease Credit Decisions

Data Firm Finicity Launches New Tools to Ease Credit Decisions

Friday, 02 October 2020
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Financial data provider Finicity has introduced new tools that it says will streamline the credit decision-making process for mortgages and other loans. So reports PYMNTS.com. Read more...
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Mortgage Fraudster May Go Back to Prison for Sports Betting Plot

Mortgage Fraudster May Go Back to Prison for Sports Betting Plot

Friday, 02 October 2020
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A man who was convicted of bank fraud in 2011 as part of a mortgage scam has been charged in connection with an alleged sports betting scheme. So reports Salt Lake City’s KSL. Read more...
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Couple Get Long Prison Terms in Religious Rent-to-Own Scam

Couple Get Long Prison Terms in Religious Rent-to-Own Scam

Tuesday, 06 October 2020
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A couple received lengthy prison sentences for orchestrating Kingdom Connected Investments, a fraudulent rent-to-own scheme that was marketed as Christian-based. So reports the Greenville (S.C.) News. Read more...
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$3T in Mortgage Volume and Its Unintended Consequences

$3T in Mortgage Volume and Its Unintended Consequences

Thursday, 08 October 2020
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Recently, the MBA reported that 2020 has been the best year in the industry since 2003 and that the volume generated to date is already $1 trillion more than in 2019. One of the few positive spots in the economy has been the housing market where there are not enough real estate sellers and affordable… Read more...
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The Flaws of 100% Commission Pay Plans

The Flaws of 100% Commission Pay Plans

Wednesday, 21 October 2020
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The 100% commission pay structure has long been considered the gold standard in mortgage lending as the best way to motivate originators to generate more volume. Implicit in a 100% commission pay structure is that a large reward is available for sales professionals who do well. Read more...
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4 Keys to Working Smarter

4 Keys to Working Smarter

Wednesday, 14 October 2020
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I recently spoke to a leading sales group in mortgage banking on what it will take for lenders and originators to succeed in 2025. I realize that it is hard to focus on the future when the present is so hectic in mortgage origination. However, 2025 is only 1,500 days from now. Read more...
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