A federal jury found Rosario Divins of San Antonio, Texas, guilty of engaging in a fraudulent foreclosure prevention scheme. According to John E. Murphy, U.S. attorney for the Western District of Texas, testimony during the three-day trial revealed that Divins illegally collected more than $100,000 in cash from individuals in desperate financial situations who responded to her mailing offering to stop their residential foreclosures. Divins continued to implement her scheme despite three separate sanctions from the U.S. Bankruptcy Court for the Western District of Texas ordering her to stop misrepresenting herself and making false promises to her clients. Before the hearing adjourned, U.S. District Judge Fred Biery revoked Divins' personal recognizance bond and ordered that she be taken into custody until posting a $100,000 bond. Sentencing is scheduled for Sept. 11.
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National Mortgage News is now accepting nominations for its annual Best Mortgage Companies to Work For program.
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The new 47-page filing abandons the Racketeer Influenced and Corrupt Organizations Act allegations brought up in the previous 100-plus-page document.
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The company is the third mortgage lender in recent months to start or reestablish its business sourcing loans from brokers, with one potential entrant to come.
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The ex-CEO began a formal solicitation of shareholders after blaming his initial claims of majority support on information provided by in-house counsel.
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As tech facilities push into lower income and rural housing markets, lenders navigate local growth without major impacts on home sales price trends.
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Certainty Home Lending named two new executives, while Equity Prime Mortgage welcomed back a familiar face as chief risk officer.
August 19








