Posts Tagged FHA fraud
by Brian Mahany For those not in the mortgage industry, a “net branch” is a branch office of a mortgage company. The branch usually keeps all the income from loans originated within the branch, less the lender’s administrative or overhead fees. Many mortgage industry professionals like them because it allows folks to quickly open a [...]
by Brian Mahany Flagstar Bank is the latest large lender to settle federal charges of mortgage fraud. Although Flagstar is based in Troy, Michigan, the case was prosecuted by the United States Attorney in Manhattan. (To date many of the large cases including our firm’s $2.4 billion dollar fraud case against Allied is being prosecuted [...]
Now that they know they bought $849 billion in fraudulent securities, what is the Fed going to do about it?
[ Ed. Note: The following is reposted in its entirety. It was written by entrepreneur / MBA / attorney Charles Seavey. I reprinted this from a discussion group in LinkedIn. In the article, Charles talks about the hundreds of billions in bad mortgage debt held by the the Federal Reserve. He advocates going after those [...]
by Brian Mahany Allied Home Mortgage is no stranger to controversy. Although the largest private mortgage lender in the U.S., it has been the subject of numerous regulatory investigations and lawsuits. According to the Federal Register, Allied was just terminated by HUD from the Direct Endorsement program. The Direct Endorsement program allows Allied and other [...]