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Originating (1113)

Broker Charged with Pocketing Advances on Scam Mortgages

A Florida loan broker has been arrested for allegedly collecting advance fees on a pledge to secure mortgage loans that never materialized. So reports The Business Observer. Read more...

Wells Fargo Scores Early Win in Mortgage Discrimination Lawsuit

A judge has granted Wells Fargo’s request to dismiss a lawsuit that claims the bank discriminated against minority mortgage borrowers during the run-up to the 2008 financial crisis. So reports Bloomberg. Read more...

'Paypal for Mortgage' Tomo Raises $40M to Speed Homebuying

Tomo, a fintech startup that plans to be a “PayPal for the mortgage industry” has announced $40 million in Series A funding. So reports GeekWire. Read more...

Mortgage Bank Profits Tumbled in Q4: MBA

Mortgage banks saw their profitability per loan tumble in the fourth quarter of 2021 to the slimmest gain since a year before the pandemic hit. That’s according to a new report from the Mortgage Bankers Association. Read more...

Mortgage Lenders View Blockchain Warily: Survey

Despite blockchain’s growing presence in the financial services sector, most mortgage lenders still aren’t familiar with the technology that powers cryptocurrencies like Bitcoin. That’s according to a new survey by Fannie Mae. Read more...

Why Prospecting is the Most Important Job for LOs!

There’s a common truth in selling that a salesperson’s job is to deliver the right message to the right people at the right time. Over the years, countless sales trainers have tackled this topic in sales training sessions, blogs and podcasts. Read more...

Podcast: Understanding Diversified Portfolio in Real Estate Investing with Lane Kawaoka

There will come a time when you need to give up everything you’ve been doing to shift your attention, time, and energy into something much better. In the real estate industry, you need to learn how to start building your own portfolio. Read more...

Questrade Financial Group Unveils Online Mortgage Service

Toronto-based broker Questrade Financial Group has rolled out an online mortgage service called QuestMortgage. So reports BetaKit. Read more...

Crypto Lender Milo Raises $17M in Funding

Milo, a fintech company that allows mortgage borrowers to put up cryptocurrency as collateral, has another $17 million in the bank, the firm announced.  Read more...

$5M Mortgage Modification Scam Ends in Guilty Plea

A California man has pleaded guilty to a fraudulent foreclosure rescue scheme that brought in at least $5 million from thousands of financially distressed borrowers. That’s according to federal prosecutors. Read more...

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