Long Island, New York independent mortgage banker, Vanguard Funding announced on July 10 that it is no longer accepting applications for loans for allegedly having their NY Mortgage Bankers license suspended.
The NMLS Consumer Access page says,”WE ARE CURRENTLY NOT ACCEPTING APPLICATIONS”.
New York is Vanguard’s state headquarters so this suspension may affect the lender’s ability to lend in the future.
CoreLogic announced today that it has fully integrated its 4506-T income verification product with Fannie Mae’s Desktop Underwriter® (DU®) platform to provide income calculation and asset verification while lowering the risk of potential borrower fraud through altered bank statements. (more…)
Mortgage rates across the nation were on the rise from May to June, according to the latest report from the Federal Finance Housing Agency (FFHA). (more…)
Mortgage applications were up .04% from one week earlier, according to the latest weekly report from the Mortgage Bankers Association (MBA) for the week ending July 21, 2017. (more…)
The United States Department of Justice (USDOJ) announced on Monday that three California men were sentenced for operating a mortgage elimination and foreclosure rescue scam in the Bakersfield area. (more…)
A former New York mortgage broker pleaded guilty this past week for his alleged involvement in a mortgage fraud scheme involving several homes in the Bronx area.
According to the United States Department of Justice (USDOJ), Greggor Gibbons, 51, of Pleasantville, N.Y., pleaded guilty to conspiracy to commit wire fraud affecting a financial institution before Chief U.S. District Judge Frank P. Geraci, Jr. The announcement was made by acting U.S. Attorney James P. Kennedy Jr. (more…)
For the second week in a row, mortgage rates moved lower, according to the latest Freddie Mac report for the week ending July 20, 2017.
Freddie Mac reported the 30 year fixed mortgage average was 3.96% with an average 0.5 point, a decrease from last week’s report when the average was 4.03%. A year ago at this time, it was 3.45%. (more…)
The U.S. Department of Justice (USDOJ) announced this week that three California residents were sentenced to a combined 39 years in prison for their roles in a nationwide loan modification scam that raked in approximately $11 million from the homeowner victims. (more…)
A former California real estate agent plead guilty this week to wire fraud and money laundering charges in connection with an elaborate scheme to defraud homeowners and mortgage holders, according to a press release from the U.S. Department of Justice (USDOJ). (more…)
Mortgage applications were on the rise by 6.3% from one week earlier, according to the latest weekly report from the Mortgage Bankers Association (MBA) for the week ending July 14, 2017. The report includes an adjustment for the Fourth of July holiday. (more…)
Current mortgage rates at the nation’s top lenders for this Monday morning unchanged from our last report on Friday. The 30 year fixed mortgage national average is 4.03% and the 15-year mortgage is 3.29%. (more…)
First mortgage performance continued to improve during the first quarter of 2017 compared with the first quarter 2016, according to latest report from the Office of the Comptroller of the Currency’s (OCC). (more…)
Mortgage rates were on the rise for the second straight week, according to the latest report from Freddie Mac for the week ending July 13 2017. (more…)
As expected during the Fourth of July holiday, mortgage applications had dropped considerably from the previous week, according to the Mortgage Bankers Association’s (MBA) latest survey for the week ending July 7, 2017. (more…)
Mortgage delinquencies across the nation were on the way down year over year, according to the latest report from CoreLogic®.
The percentage of loans in some stage of delinquency was at 4.8%, which represents a 0.5% point decrease in the overall delinquency rate compared with April 2016 when it was 5.3%. (more…)