Mortgage Foreclosure & Refinance Resource

If you are applying for a FHA backed loan, ask if your broker is FHA approved. Otherwise, you may be paying the origination fee twice. FHA loan origination services must be performed by a FHA-approved lender or FHA approved mortgage broker (loan correspondent). A loan correspondent may be compensated for the actual loan origination services [...]

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According to a NYTimes article, the Countrywide Financial Corporation fabricated documents related to the bankruptcy case of a Pennsylvania homeowner, raising new questions about the business practices of the giant mortgage lender at the center of the subprime mess. The emergence of the fabricated documents comes as Countrywide confronts a rising tide of complaints from [...]

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According to CNN and New York Times, Countrywide Financial, the nation’s leading mortgage lender, is facing a federal probe into its foreclosure practices. The U.S. Trustee, a part of the Justice Department, subpoenaed records to determine if two foreclosures in southern Florida represented abuses of the bankruptcy system by the lender.

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