lender: The F Word
- 02/24/07 07:46 AM
Mortgage Fraud is real and rampant in the United States according to the FBI. The Federal Trade Commission estimates that mortgage fraud has cost businesses nearly $48 billion and consumers about $5 billion in the past 5 years. There are some cases that involve appraisers, lenders, attorneys, and real estate agents. While other scams can be pulled off by consumers acting alone. The FBI estimates that 80% of all mortgage fraud losses involve collaboration or collusion by industry insiders. Per the FBI: The increase reliance by both financial institutions and non-financial institution lenders on third-party brokers has created opportunities for organized fraud (0 comments)
lender: Jobs Jobs Jobs
- 02/02/07 12:41 PM
Each month, we get the monthly non-farm payroll report from the Labor Department. No other piece of news is more closely watched by the markets and the Federal Reserve than this employment data. The report for January showed that the unemployment rate climbed to a four-month high and wage growth was a little slower than expected. Bad news on the economy is good news for mortgage rates. In short, inflation is bad for everyone. If the economy is growing too fast and prices are rising rapidly, your money will buy you less goods and services going forward. Slow and steady growth is (0 comments)