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Unlicensed Orange County broker sent to prison in $40 million fraud case
Jared Tornow, a San Clemente, Calif. man who acted as a mortgage broker under several umbrellas, including the Orange-based Lucrativo Real Estate Solutions Inc., was sentenced to 70 months in federal...
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Professional Servicing Companies Key to Seller Carry-Back Loan Survival
Seller carry-back loans have been growing in popularity since mortgage companies have tightened the noose on potential borrowers. As even some of the most creditworthy applicants are being turned away...
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Housing Reform Plan to Dissolve GSEs Submitted by Obama Administration
The Obama Administration has delivered a report to Congress that provides a path forward for reforming America’s housing finance market. The Administration’s plan will wind down the...
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Complaint Filed With HUD: Will Lenders be Forced to Accept FHA Minimum Scores?
In a complaint filed with the U.S. Department of Housing & Urban Development (HUD) on Dec. 7, 2010, the National Community Reinvestment Coalition (NCRC) alleged that the lending practices of 22...
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