MFI-Miami Articles About Dan Gilbert Featured The Voice Of Detroit
Voice of Detroit Editor Diane Bukowski posted an article on Friday that discussed MFI-Miami articles. The articles were written over the past two weeks about Dan Gilbert.
The first article focused on an MFI-Miami article that showed 70.6% of mortgages originated by Quicken Loans in the City of Detroit went into foreclosure. These Quicken Loans were originated between 2003 and 2008.
Gilbert’s cameras are all over the downtown Detroit area, including inside the Detroit News and Free Press buildings, newly-rented from him after he bought their old offices, according to a report from the on-line newspaper MFI-Miami.
“Of the 75 homes sampled that had Quicken Loans named as the original mortgagee sampled,” the paper wrote, “70.6% of these homes went into foreclosure within the first 24-36 months of being sold on the secondary housing market by Quicken Loans to either Fannie Mae and Freddie Mac or to a private mortgage backed securities trust on Wall Street.
You can read the entire article here.