BridgeSpan has not ceased all operations, as MortgageWire erroneously reported, and the BridgeSpan website has relaunched after being taken down in the wake of the closure of BridgeSpan Title.The BridgeSpan homepage had been replaced earlier by a notice directing visitors to an eMortgageAxis Web page. BridgeSpan said about 150 employees were laid off as a result of the shutdown of BridgeSpan Title, not 200-plus as previously reported in The Title Report and cited by MW. A news release on the relaunched BridgeSpan homepage quotes BridgeSpan CEO Larry Walker as saying, "While BridgeSpan's innovative technology may have once been ahead of its time, it looks like its time may be just arriving." MortgageWire regrets the error.
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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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