Romspen Is Withholding Partial Redemption Payments In August. They Cite Poor Loan Performance. Or Is It Just Cover For A Shell Game? Canada’s largest private mortgage lenders is at it again. Romspen is withholding partial redemption payouts to investor for the fourth time in under a
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Romspen Investor Warning: Canadian Lender Froze and Has Reduced Investor Redemptions for Nearly A Year. Have They Become The Roach Motel Of Commercial Lending? This Romspen investor warning is going out to all our readers who invest in commercial real estate. It appears Canadian real estate
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Zillow Home Loans Launches 1% Down Mortgages In An Attempt To Compete With Rocket And UWM Zillow Home Loans announces it is launching a 1% Down Payment program. The new Zillow program would allow eligible first-time home buyers to pay as little as 1% down on
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AmeriFirst Financial Files For Bankruptcy Less than Two Months After The Resuming It’s Forward Origination Business Retail lender AmeriFirst Financial filed for Chapter 11 bankruptcy protection in Delaware. The Amerifirst Financial bankruptcy comes just two months after the company resumed it’s forward mortgage origination business. Amerifirst
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The Mortgage Bankers Association Says Mortgage Payments Increased 17% Annually As Homebuyer Affordability Becomes More Challenging The Mortgage Bankers Association says homebuyer affordability remained unchanged in July from June. However, mortgage payments increased 17% from last year. The MBA’s Purchase Applications Payment Index (PAPI) measures how
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Bank of America Has Prevailed In The Cook County Ghetto Loans Lawsuit As 7th Circuit Court of Appeals Rules In It’s Favor Bank of America has prevailed in a ghetto loans lawsuit brought against it by Cook County, Illinois. Cook County sued the bank alleging predatory
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Freedom Mortgage Spanked By CFPB To The Tune Of $1.75 Million For Illegal Kickbacks To Realtors Last week, Freedom Mortgage was spanked by the CFPB to the tune of $1.75 million. The CFPB say Freedom Mortgage paid kickbacks to real estate brokers in exchange for mortgage
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Canadian Lender Romspen Investment Corp. Sues Fake Real Estate Tycoon Caroline Weiss For Foreclosure After Throwing $21.3 Million At Her Are you an inexperienced real estate developer who is being sued for fraud by your own daughter and need a $21.3 million dollar loan? Well, we
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LoanDepot Shareholder Lawsuit Alleges Investor Deception and Breach of Fiduciary Duty Plague The Mortgage Firm LoanDepot is facing another shareholder lawsuit. Plaintiffs in the latest LoanDepot shareholder lawsuit filed it in Delaware. Plaintiffs allege that investors were misled before its 2021 initial public offering (IPO). This
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Rocket Mortgage Is Offering 12 and 24 Weeks Of Pay In A Third Round Of Voluntary Buyout Offers Rocket Mortgage is offering another round of buyouts to its employees. The buyout follows two rounds from last year. Those buy outs resulted in a workforce reduction of
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