Senior Federal Home Loan Bank Execs Indicted

Author:  //  Category: Mortgage

Senior executives of the Federal Home Loan Bank of Dallas have been indicted for using funds from the organization to pay for personal expenses.

An announcement Thursday from the Department of Justice indicated that Terence C. Smith, Michael J. Sims and Nancy B. Parker have all been indicted.

Smith, 51, was the president and chief executive officer of FHLB Dallas from 2000 through September 2013, while Sims, 51, was the chief financial officer from 2005 through May 2014.


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New 2017 Low for Mortgage Rates, Could Go Lower

Author:  //  Category: Mortgage

Interest rates on single-family loans this past week fell to the lowest level since last year, and the next report could see a similar decline.

On loans that are utilized to finance a home purchase, 30-year fixed rates on conforming conventional mortgages averaged 4.14 percent in July.

That turned out to be slightly less than during the preceding month, when average long-term mortgage rates came in at 4.15 percent.


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New 2017 Low for Mortgage Rates, Could Go Lower

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Sub-Prime Lending – Will It Be Different This Time?

Author:  //  Category: Mortgage

… risen to the heights of mortgage lending in 2007 and approximately … are becoming more and more subprime as lending standards decrease, with … those sub-prime securitizations.
High rates are charged to these borrows with sub-prime … that things are deteriorating. When sub-prime lending standards deteriorate industry-wide, bad …

Sub-Prime Lending – Will It Be Different This Time?

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Risk of Mortgage Fraud Higher Than Year Earlier

Author:  //  Category: Mortgage

While there was no month-over-month increase in the risk of fraud on new applications, risk is up from a year ago. Rising rates could drive risk higher.

The national Loan Applications Defect Index was determined to be 84 during July, no different than it was in the preceding month.

The index is an estimate of the frequency of defects, fraudulence and misrepresentation in the information presented on home-loan applications.


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Risk of Mortgage Fraud Higher Than Year Earlier

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Pennsylvania-based Credit Union PSECU Commits $20K to Hurricane Harvey Recovery Efforts

Author:  //  Category: Mortgage

Encourages Member Giving with Donation Match up to an Additional $80K

HARRISBURG, PENNSYLVANIA, UNITED STATES, August 31, 2017 /EINPresswire.com/ —
FOR IMMEDIATE RELEASE August 31, 2017

Contacts:
David James Misner …

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Pennsylvania-based Credit Union PSECU Commits $20K to Hurricane Harvey Recovery Efforts

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Subprime mortgages are coming back!

Author:  //  Category: Mortgage

… .
Subprime mortgages, which are now being referred to by many as “nonprime” mortgages … hedge funds that invested in subprime mortgages saw their assets become worthless … USA Today. By 2008, the subprime mortgage crisis had managed to effect …

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Subprime mortgages are coming back!

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Loan Processor Sues Wells Fargo for Harassment

Author:  //  Category: Mortgage

A federal lawsuit filed against Wells Fargo & Co. alleges that the company did nothing when a mortgage processor reported sexual harassment by her boss.

The complaint was filed against the San Fransisco-based financial institution on Tuesday in U.S. District Court for the Western District of North Carolina.

According to the suit, when the employee reported the harassment to her boss’ supervisor, she was told to ignore the inappropriate comments.


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Wells Fargo Fraudulent Account Scandal Grows

Author:  //  Category: Mortgage

Wells Fargo & Co. has disclosed that the number of new accounts fraudulently created by bank employees is substantially higher than originally reported.

Last September, the San Francisco-based bank-holding company revealed that 2.1 million bank accounts had been created without the customers’ permission.

The scandal resulted in the termination of more than 5,000 employees, the ouster of its chief executive officer and the resignation of the three directors — including the chairman of the board.


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FHA CRE Biz Skyrockets, SFR Refi Biz Headed Higher

Author:  //  Category: Mortgage

There was little change in monthly residential business at the Federal Housing Administration, though refinance activity is poised for an increase. But commercial real estate activity soared.

At the midpoint of this year, FHA insurance was in force on 8,552,967 residential loans for $1.2901 trillion, according to an analysis of data reported by the Department of Housing and Urban Development.

The total included $1.1455 trillion in single-family loans, $0.1436 trillion in home-equity conversion mortgages and $0.0010 trillion in Title I loans.


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FHA CRE Biz Skyrockets, SFR Refi Biz Headed Higher

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IBS Intelligence is chosen by S&P’s iconic Capital IQ platform

Author:  //  Category: Mortgage

IBS Intelligence will be the first and only fintech focused contributor to provide proprietary real-time research to Capital IQ’s one million+ clients globally.

LONDON, UNITED KINGDOM, August 31, 2017 /EINPresswire.com/ — London headquartered …

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IBS Intelligence is chosen by S&P’s iconic Capital IQ platform

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