Oct 4 (Reuters) – Bank of America Corp (BAC.N) could face fraud claims after its countrywide mortgage division submitted incorrect mortgage information on some government insured-loans, Bloomberg.
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Bank of America Corp. should face fraud. the loans.” The federal housing administration, run by HUD, insures mortgages on loans to borrowers who can’t find traditional financing, such as those with.
FHA.com Reviews. FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier.
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Homeowners: Watch Out for These 5 Common Mortgage Scams It pays to be aware of the most common mortgage scams so no one can profit off your inexperience or trust.
The Detroit News reports that the Justice Department has charged a former Quicken contractor with conspiracy to commit bank fraud. ultimately paid an FHA insurance claim of $93,955.19," the Justice.
· Advance-fee scams; These simpler scams are sometimes combined with phishing scams. In this case, you apply for a personal loan with a fraudulent lender that asks for you to pay a fee to cover processing costs, insure your loan or even guarantee approval before they’ll.
This is a second mortgage placed on an asset for down payment funds but isn’t disclosed to the original lender on the first mortgage. A borrower without a down payment can commit mortgage fraud by borrowing the down payment from the seller in exchange for giving the seller a silent second mortgage.
A Florida loan officer has been sentenced to four-and-a-half years in prison and ordered to pay $9.2 million in restitution to the Department of Housing and Urban Development (HUD) for his role in a.