loanDepot Is Suing Movement Mortgage In Delaware Federal Court For Poaching Loan Officers loanDepot is suing Movement Mortgage In Federal Court. The company is accusing competitor Movement Mortgage of damaging its business by poaching it’s employees. The company alleges Movement Mortgage poached over 25 employees in three months. Thus, loanDepot found itself “effectively crippling” with “now-depleted” branches. […]
UWM Announces Major Expansion Of Its Popular Bank Statement Loan Programs. Pontiac, Michigan based lender UWM Announced Wednesday that it intends on expanding its bank statement loan program. The plan is to provide additional flexibility and opportunities for independent mortgage brokers and self-employed borrowers. The UWM program will allow borrowers to use their bank statements […]
The New York FAPA Law Gives New York Homeowners The Ability To Body Slam Their Lenders In A Foreclosure! The New York FAPA Law (Foreclosure Abuse Prevention Act) went into effect on January 1st. FAPA was created because judges across New York were fed up with lenders abusing the New York court system. As a […]
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 […]
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