Pending Home Sales Fell 2.7% In May. Will They Continue To Fall? NAR Bullish About Housing. Is There Another Housing Apocalypse Coming? Pending home sales were steady in April like they had been since the beginning of the year. However, pending home sales fell in May. they dropped 2.7%, according to data released Thursday by the National […]
Movement Movement Has Settled With The Feds For $24 Million Over Allegations Of Underwriting Fraud On Government Loans Movement Mortgage has settled with the federal government for $23.75 million. The settlement is came after the government accused the lender of underwriting fraud. The government alleged movement improperly originated and underwrote mortgages insured by FHA and […]
The Florida Supreme Court Suspends Miami Attorney Bruce Jacobs’ License For 91 Days As He Continues Driving His Career Off A Cliff The justices of the Florida Supreme Court have suspended a Miami foreclosure attorney Bruce Jacobs’s law license for 91 days. The Florida Bar filed multiple complaints alleging Jacobs used “strong and offensive language […]
Generous Interest-Only Jumbo Loans To Super Wealthy Customers Is What Drove First Republic Over The Cliff It appears the First Republic collapse was caused by the bank giving out attractive multi-million dollar interest-only jumbo loans to wealthy clients. The failed bank sold loans with rock bottom interest rates to rich clients. Several of these clients […]
A Federal Judge Is Allowing A Rocket Mortgage Fraud Lawsuit To Proceed. Plaintiffs Allege Rocket Committed Fraud And Violated TILA. A federal judge in Pennsylvania last week dismissed five claims in a Rocket Mortgage fraud lawsuit. However, he did allow two other claims to stand. Two property owners in North Carolina sued Rocket in October […]
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