Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of .5 million The founder and president of a defunct Massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million. Court documents show th

LendingTree: First-time homebuyers struggle to navigate home lending LendingTree recently released an analysis that compares the borrowing patterns of first-time buyers to repeat mortgage borrowers. The report determined that just 24% of first-time homebuyers claim to be very familiar with the diff

Waterstone Mortgage founder launches tech-focused mortgage company Waterstone Mortgage founder Eric Egenhoefer has joined Panorama Mortgage Group as co-managing partner, launching a new brand extension, Novus Home Mortgage. Novus Home Mortgage is a residential lender operating in more than 35 state

GE's subprime lender WMC Mortgage files for Chapter 11 bankruptcy General Electric is moving closer to putting its failed attempt to capitalize on the subprime lending boom into its rearview mirror. Earlier this month, GE agreed to pay a fine of $1.5 billion as part of a settlement with the De

HUD sued over new down payment assistance rules for FHA mortgages Last week, HUD announced it was issuing new rules for down payment assistance on FHA mortgages. According to HUD and the FHA, the new rules were meant to provide clarity around what documentation would be required for borrowers who a

MBA: Geopolitical headwinds dampen mortgage application growth As geopolitical turmoil mounts, mortgage applications retreated further for the week ending April 24, 2019, according to the newest data from the Mortgage Bankers Association. According to MBA's weekly Mortgage Applications Survey, on a

Redfin: This is how much an open house can boost your home sale According to a recent analysis by Redfin, American home sellers are now making $9,046 more on average just by hosting open houses. One of these highly competitive markets includes San Francisco, where homes with open houses sold for 7.

Victims of reverse mortgage scam want protection from Ditech bankruptcy Ditech is in the midst of a bankruptcy, and some are worried that the rights of its borrowers will be trampled in the process. A recent filing with the U.S. Trustee asked that a consumer creditor committee be formed to protect

Maxwell's digital mortgage software now available through Ellie Mae In a partnership that brings together two of HousingWire Magazine’s 2019 HW Tech100 honorees, Maxwell announced this week that its digital mortgage software is now available through Ellie Mae’s Encompass. Source: https://

A kinder, gentler CFPB? Bureau announces new enforcement rules Kathy Kraninger may be charting a different path as director of the CFPB than that of her immediate predecessor, Mick Mulvaney, but one area where it appears Kraninger’s CFPB will be similar to Mulvaney’s is in the bureau’s friend