PMAC, West Covina, Calif., has launched a website that provides information and services aimed at consumers, mortgage brokers, and other groups affiliated with the mortgage banking industry.The company said it has restructured its operations to focus on three key lending areas: wholesale, outsourced, and retail. "PMAC's Wholesale Lending Group is an exciting new venture for us in that we can now offer competitive loan programs," said Jon Magill, president and chief executive officer of PMAC. "Many of these programs are unique to PMAC and offered directly to mortgage brokers and third-party originators." The new website can be found online at http://www.pmac.com.
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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.
10h ago -
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.
April 25 -
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.
April 25