Choose Your Own Term Mortgages

by Colin Robertson on January 27, 2012


It’s silly mortgage product Friday! So I was driving out in Los Angeles today, listening to ESPN radio or some other sports station, when a mortgage ad came on the air. It was for “Crestline Funding’s MyFi,” which allows mortgagors to choose their own loan term. When I got home I did a quick search



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HAMP gets extension, expansion

by Holden Lewis on January 27, 2012

You’ll have more time to seek a mortgage modification under the Home Affordable Modification Program, or HAMP. And maybe your lender will be more likely to write down principal.
HAMP’s expiration date has been extended one year, to the last day of 2013, the Treasury Department announced this afternoon. Treasury announced other changes, too:
• Treasury will

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Is the Financial Crimes Unit too late?

January 27, 2012

More than three years after the U.S. housing market nearly collapsed as a result of reckless lending practices, the Justice Department says it plans to create a new Financial Crimes Unit to investigate mortgage abuses. Great timing, no?
President Barac…

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Closing Attorney Admits Role in Mortgage Conspiracy

January 27, 2012

Kimberly S. Daise, Miami, Florida, an attorney, pled guilty on January 11, 2012, in connection with a mortgage fraud scheme relating to a property in the Versailles development in Wellington, Florida. 

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Woman Sentenced for Mortgaging Property She Didn’t Own

January 27, 2012

Bonnie Sweeten, 40, Pennsylvania, was sentenced to 100 months in prison for fraud schemes in which she stole in excess of $600,000 from her employer and family members including mortgaging a property she did not own.

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Real Estate Agent Admits Role in $6M Mortgage Fraud Scam

January 27, 2012

Rodney T. Riddle, 44, Cincinnati, Ohio, pleaded guilty in U.S. District Court to submitting fraudulent mortgage loan applications to secure $6,971,870 from lending institutions as part of a mortgage fraud scheme.

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2011 Mortgage Lending Volume Lowest In Over a Decade

January 26, 2012

You may have thought that mortgage lenders were raking it in, what with the record low mortgage rates currently on offer. But 2011 was actually the slowest 365 days in mortgage lending since the year 2000, according to figures released by Inside Mortga…

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Mortgage Fraudster Serving Sentence Admits Hiring Hit Man

January 26, 2012

Aaron Hand, 40, plead guilty to Conspiracy to Commit Murder in the First and Second Degrees for conspiring to murder a witness who testified against him at his 2010 trial, at which he was convicted of masterminding a $100 million mortgage fraud.

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Chokeholds on a housing recovery

January 26, 2012

The housing crisis and resulting drop in home prices has cost $7 trillion in household wealth, according to a statement this month by the Federal Reserve. Despite recent upticks in sales, it’s only projected to get worse unless the increasing supply of…

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Foreclosure Rescuers indicted for Fraud

January 26, 2012

Philip Villasis, 41, and Ray D. Gata, 56, both of Chesapeake, Virginia, were indicted by a federal grand jury on nine charges including conspiracy to commit wire fraud, wire fraud, and money laundering for their roles in a foreclosure rescue …

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