Judge orders fine for Seattle mortgage broker
An Idaho judge has ordered a Seattle-based mortgage broker to pay more than $1 million in penalties and restitution for fraud and violations in state laws. A judge in Ada County ruled that Access...
View ArticleMortgage broker hangs on in decimated industry
Boise-based Columbia Mortgage has cut staff, outsourced loan processing, concentrated on marketing and spent less time shuffling paper in order to survive. The mortgage brokering firm has capitalized...
View ArticleInvestigation initiates foreclosure moratorium
By Ben Mook As calls for a moratorium on foreclosures and sales of foreclosed homes continue to grow, so do the calls for it to be as short as possible to avoid hindering a housing market still trying...
View ArticleZions Bancorp curbs losses in third quarter
Zions Bancorporation reined in losses in the third quarter as it resolved more problem loans and tallied a drop in delinquencies. The Salt Lake City-based bank holding company, parent of Zions First...
View ArticleMortgage originators put off taking state exam
Time is running out for many Idaho mortgage originators to pass a required state exam. As of Oct. 15, 73 percent had passed the national exam and 47 percent had passed the state exam, said K.C....
View ArticleMeridian couple indicted on mortgage fraud
A Meridian real estate agent has been indicted for her role in a scheme involving the short sale of a house in Eagle. Paul and Melody Redondo are also accused of mortgage fraud. They are scheduled to...
View ArticleSJC rules against banks on mortgage assignments
Tom Egan The Supreme Judicial Court has upheld a Land Court judge’s decision in U.S. Bank v. Ibanez invalidating foreclosure sales conducted by two plaintiff banks to which mortgages had been assigned....
View ArticleCommentary: New rules for mortgage loans
Thomas L. Wolf It is widely accepted that the recent real estate collapse was primarily due to lenders reducing, or disregarding the standards relating to home mortgage qualifications. Exacerbating...
View ArticleBalloon payments push small businesses to refinance
Small businesses that financed buildings during the mid-2000s boom did so with the anticipation of continued economic growth and increased valuations. As the downturn has dragged on, most face balloon...
View ArticleCommentary: Healthy secondary market vital
BALTIMORE, Md. – What is the American Dream? For many, the fulfillment of the American Dream is homeownership. To that end, a healthy and accessible primary mortgage market is vital to the success of...
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