FTC And California Regulator Accuse California Mortgage Relief Operation Of Running A Scam A federal court in California has shut down California Mortgage Relief Operation. Federal and state regulators say they were offering “sham mortgage relief” programs. Regulators also say the scam operated by Dominic Ahiga and Roger Scott Dyer cost consumers millions of dollars. […]
Federal Prosecutors Prove Former HUD Official Improperly Directed Government Business To A Personal Friend’s Company A federal jury has convicted a former HUD official. Former HUD Assistant Inspector-General Eghbal “Eddie” Saffarinia concealed efforts to direct tens of millions of dollars in government business to a friend to whom he owed money. The friend was also […]
US Bank Runs From Florida Housing Faster Than OJ Simpson In A Hertz Commercial And Without Warning In what might be a sign of a larger exit from the lending business, US Bank recently terminated its long-time relationship with Florida Housing Finance Corporation aka FL Housing. FL Housing is the state’s agency for, “Affordable housing […]
Wells Fargo Will Pay $94M To Settle Class-Action Mortgage Forbearance Lawsuit Wells Fargo will pay $94 million to settle a class-action lawsuit. Plaintiffs argue Wells Fargo unlawfully sent more than 200,000 mortgage borrowers into forbearance during the pandemic. The lawsuit says Wells Fargo also did it without their consent. Plaintiffs argued that the bank provided […]
Point Mortgage Joins The Mass Exodus Of Lenders Exiting Wholesale Lending. Company Claims It’s Only Temporary Point Mortgage is joining other lenders in a mass exodus out of wholesale lending. The company has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending. CEO Johnny Margarini told Housingwire: […]
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