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12 Mortgage, Real Estate Pros Charged in Multi-Year Fraud Scheme

12 Mortgage, Real Estate Pros Charged in Multi-Year Fraud Scheme

Friday, 25 September 2020
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A dozen people, among them mortgage and real estate professionals, face charges after federal prosecutors say they defrauded Fannie Mae and Freddie Mac in a four-year scheme resulting in the approval of more than 100 mortgages. So reports the Atlanta Journal-Constitution. Read more...
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Jewels, Rolex Watches Seized from Fugitive in Mortgage Scam

Jewels, Rolex Watches Seized from Fugitive in Mortgage Scam

Tuesday, 29 September 2020
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British authorities have seized diamond-encrusted Rolex watches, flashy necklaces, and gold and silver from the safe deposit box of a fugitive wanted for his alleged role in a £50 million ($64 million) mortgage scam. So reports Reuters. Read more...
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Does Your Sales Strategy Align with How Consumers Want to Buy?

Does Your Sales Strategy Align with How Consumers Want to Buy?

Thursday, 01 October 2020
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Since the COVID-19 outbreak, the normal way of doing things is being redefined on a daily basis. Many financial experts consider this global pandemic to be a “black swan” event. Read more...
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When Training and Coaching, Conflicts Will Arise

When Training and Coaching, Conflicts Will Arise

Wednesday, 30 September 2020
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Training and coaching often leads to inevitable conflicts. Some will be minor, such as disagreements regarding goals and responsibilities and some will be major, such as disciplinary actions. Regardless of the level or cause of conflict, a manager must be prepared to deal with the issues raised. Read more...
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Ask The Expert: Why is the Cost of Jumbo Financing So High?

Ask The Expert: Why is the Cost of Jumbo Financing So High?

Wednesday, 23 September 2020
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Several loan officers have inquired: Why is the cost of jumbo financing so high at this time? For the past few years, it has been the same as conforming pricing and sometimes even lower than conforming. Now it is much higher--if you can find it at all. Why has this market changed so much? Read more...
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SEC Drops Charges in Massive Mortgage Fraud Case

SEC Drops Charges in Massive Mortgage Fraud Case

Friday, 18 September 2020
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The SEC has agreed to settle its civil case against upstate New York developer Robert C. Morgan without seeking a fine. So reports Buffalo News. Read more...
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Home-Flipper Opendoor to Go Public Via Blank-Check Company

Home-Flipper Opendoor to Go Public Via Blank-Check Company

Friday, 18 September 2020
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Real estate startup Opendoor has confirmed plans to go public through a merger with the Social Capital Hedosophia II, a special purpose acquisition company associated with investor Chamath Palihapitiya. So reports TechCrunch. Read more...
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Mortgage Honcho in $3B Fraud Scheme Wins Early Release

Mortgage Honcho in $3B Fraud Scheme Wins Early Release

Tuesday, 22 September 2020
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Lee Farkas, who was chairman and majority owner of the Florida mortgage firm Taylor, Bean and Whitaker, has been granted release from prison nine years into a 30-year sentence. So reports the Orlando Sentinel. Read more...
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Ask The Expert: Are Many Lenders Losing Buyers Because of High Rates?

Ask The Expert: Are Many Lenders Losing Buyers Because of High Rates?

Friday, 18 September 2020
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A Loan Officer based in the South wrote: "Right now, it is a very interesting time at my bank for all MLO’s here. The minimum down payment requirements for all conventional and jumbo loans are very high. Minimum credit score requirements are very high and our interest rates are the highest in the industry, I… Read more...
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Why Large Mortgage Firms Need to Issue Annual Diversity & Inclusion Reports

Why Large Mortgage Firms Need to Issue Annual Diversity & Inclusion Reports

Thursday, 17 September 2020
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PricewaterhouseCoopers (PwC) recently announced its first-ever Diversity & Inclusion Transparency Report. And, according to a recent Fortune article, “women and racially diverse talent now account for 65% of [PwC] entry-level hires, 7% of whom identify as Black, 12% as Latinx.” Read more...
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