Net branching company 1st Metropolitan Mortgage, Charlotte, N.C., has selected LandAmerica Financial Group, Richmond, Va., to be its vendor for mortgage processing services.The mortgage broker said it expects to roll out LandAmerica's mortgage processing services to 250 of its branches nationwide during the first quarter. Daniel Jacobs, chief operating officer of Empire Equity, the owner of 1st Metropolitan, said his company "has been working hard to find a processing partner to help our branches succeed."
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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