Mortgage Default Rate Skyrocket in California
Homeowners in California are hard pressed for relieve from the Mortgage Crisis in the United States. The default rate is affecting 1 in every 10 Californians with a home mortgage and its spreading to the Commercial Real Estate Market at an alarming rate. First American CoreLogic reports the percentage...
Mortgage Investors Victims of Fraud in Rhode Island
Pierre (Peter) Chabot, Jon A. Mills, Joseph H. LeMay and Sharon B Kosciusko where part of a Mortgage Investors scheme that left investors in seventy three properties in financial ruin and mortgage lenders with significant losses. Rhode Island State Police received information about a multi-million dollar...
Lender Loan Service Fees Deter Homeowner Loan Modification
The Obama Administration this week assembled mortgage company executives in Washington to insist they expedite their efforts in modifying loan payments for homeowners that are descending into foreclosure. The Treasury requested that companies acquire more man power and initiate training to speed up the...
Miami – Dade’s 41 for $40M Mortgage Scandal
Federal and State agents in Florida in July went forward with indictments on forty one people in a Mortgage Fraud case that can only be described as nightmare for the lenders involved. The indictments are the result of an investigation that begun in September 2007 by the Federal-State Mortgage Fraud...
Owner of Southern Funding Mortgage in Alexandria faces fraud charges
Originaly by Abbey Brown: The owner of Southern Funding Mortgage, which closed in April, appeared in federal court in Alexandria Thursday morning to face charges of carrying out a scheme that defrauded Sabine State Bank of more than half a million dollars. William Earl Nichols, of 5445 Provine Place,...
Saving the yield spread premium
Originaly by Jonathan Foxx:  The ancient Roman god, Janus, was two-faced—his back-to-back visages looking at the past and into the future—a symbolic representation of ineluctable transitions through the passage of time, a reminder of essential change from one condition to another, whether for better...
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