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 […]
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 […]
The Angry White Republicans In The GOP Dominated Florida Legislature Want To Restrict Foreign Real Estate Purchases The angry white Republicans of the GOP controlled Florida legislature are at it again. This time, the “Fighin’ Whities” have their sights on severely restricting real estate purchases by foreign investors. The bill focuses on Asian and Latino […]
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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