The Home Equity Theft Reporter: Mortgage Broker, Attorney, Loan Officer Sentenced In South Florida Scam Resulting In $37+M In Fraudulently Obtained Mortgages

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The Home Equity Theft Reporter: Mortgage Broker, Attorney, Loan Officer Sentenced In South Florida Scam Resulting In $37+M In Fraudulently Obtained Mortgages Kinney, a loan officer, then obtained financing for the acquisitions by submitting fraudulent mortgage Lenders relying on Kinney’s submitted documents issued mortgages that exceeded actual sales florida loan officer sentenced to 54 months.

Mortgage broker vs. mortgage banker: Who offers the best mortgage rates? When you’re shopping for a home loan, you have two main sources of Loan officers serve as the bank’s sales force. They usually earn commissions for originating loans, and the prices they charge may not be negotiable.

In an equity theft scam, the perpetrator will purchase a home that is in foreclosure or distressed / abandoned. The home is then sold to a The perpetrator will convince the senior citizen to obtain a reverse mortgage to save the property but will then inform the senior that he or she does not qualify.

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Fixed rate mortgages are best for individuals who intend to remain in their homes for the duration of the loan. Beware of Adjustable Rate Mortgages (ARMs). The rates will increase after the introductory period and may cause a home buyer financial stress when the mortgage rates increase.

A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products.

Why was my Mortgage Sold to Another Company Mortgages.ca is a Toronto-based team of top performing mortgage brokers. They work with home buyers and major lenders to find their clients perfectly matched mortgage products. Mortgages.ca arranges the very best rates, terms, and products on the market at all times for their clients.