LMI’s founder and president, Jay Atterstrom, responded to us in a very candid email about the company’s decision to go with PRMI.
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THE Australian share market managed this week its largest gain since last August, despite another poor lead from Wall Street. via NEWS.com.au
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‘Countrywide Financial Corp.’s chief executive and president will receive a combined $19 million in stock next week as part of the company’s pending takeover by Bank of America Corp., according to a regulatory filing’
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using three closings we are performing today. Interestingly, one transaction is a mortgage broker, one transaction is a local bank who is selling servicing released, and one is a top five lender. I’m going to use the data from the HUD to complete the GFEs so we can see how the deals would have looked […]
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‘The Federal Reserve was supposed to regulate the lending industry and didn’t. Maybe that was the plan - offload the responsibility, and then let the banks run ramshod. ‘
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‘Investors in British Columbia who put their money - and faith - in a Vancouver brokerage house, are now caught up in a financial nightmare. Canaccord Capital Inc. put about 1,400 clients, many of them from B.C., in ill-fated asset-backed commercial paper.’
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OK, now let’s remember this is a closed transaction. I’m using it to get a real life scenario into a GFE but I haven’t completed a sales comparison or lock info.I’ve added notes where there is ZERO tolerance for differences if there are no unforeseen changes. I have also made note that the lender and […]
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THESE ARE TWO DEFINITIONS TAKEN FROM THE PROPOSED RESPA RULES:Mortgage broker means a person (notan employee of a lender) or entity thatrenders origination services in a tablefunded or intermediary transaction. Aloan correspondent approved under 24CFR 202.8 for Federal HousingAdministration programs is a mortgagebroker for purposes of this part.Origination service means any serviceinvolved in the creation […]
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“Earlier this month, we fired two contract employees for their involvement in using false documents with Marubeni’s name on them to illegally collect money from investors, and we have verbally reported the case to the police”
Investment bank Lehman Brothers was defrauded of around $242 million after it and other investors were caught in a scam in Japan, a newspaper reported on Saturday, with Japanese trading house Marubeni … via The Boston Globe
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