Posts Tagged ‘FHA’

Mortgage Net Branch and New HUD Rules

The title for this post should be “Are the people at  HUD out of their fracking minds?” HUD has extended the deadline for correspondent lenders (mortgage brokers) to provided their audited financials. The big problem is that the extension period is useless. It’s a 30 day extension. Since HUD has a proposed rule change in […]

Taylor, Bean and Whitaker -12th largest mortgage lender loses FHA approval.

*** Update – TB&W has closed down mortgage operations!! Taylor, Bean and Whitaker -12th largest mortgage lender loses FHA approval. Taylor, Bean, and Whitaker was one the country’s top wholesale lenders serving 100’s of small mortgage shops across the country. TB&W has 30 days to appeal the suspension but few have won an appeal and […]

Credit Repair and Loan Modification – Good or Bad For Net Branch?

Credit Repair and Loan Modification – Good or Bad For Net Branch Loan Officers? I have noticed that there are several “side businesses” trying to recruit loan officers. By “side businesses” I mean companies that offer services like credit repair or loan modification. My in-box is full of offers and I see recruiting ads everywhere. […]

Three Lenders Latest To Be Suspended By HUD From FHA

HUD has announced the suspension of three lenders – these company’s FHA activity has been halted pending further investigation by HUD into their business practices. The three lenders are: Golden First Mortgage Corp of Great Neck, NY; Great Country Mortgage Bankers, Inc. of Coral Gables, FL; and Beneficial Mortgage Corporation of San Juan, PR. Any […]

1st Metropolitan Mortgage Closing It’s Doors – We can help!

Another one bits the dust!  No not the song by Queen… Another National Net Branch company is shedding 80% of it’s branch offices. Branch managers were surprised by an email yesterday announcement to it’s large branch network that they are closing effective Tomorrow. Although the branches will have about 30 days to clear out their […]