Jocelyn Saenz Carrillo, 53, a former branch manager and escrow officer with Alliance Title Co. in Fremont, was arraigned on 31 counts of real estate felonies in Alameda County Superior Court. She’s charged with diverting home loan money from 10 Bay Area homeowners, mostly elderly and Spanish-speaking, to two unlicensed loan salesman Altaf Shaikh (aka [...]
Filed under: Mortgage Mania, The Market | 4 Comments »
From our illustrious brethren in online media, Bloomberg News: In April, 73,880 homeowners with privately insured mortgages fell more than 60 days late on payments, compared with 39,584 who got back on track, a report today from the Washington-based Mortgage Insurance Companies of America said. The Hope Now program has so far proven insufficient, Sandra [...]
Filed under: Foreclosure Fever, Mortgage Mania | Leave a Comment »
At least that’s what a report prepared for the Department of Housing and Urban Development said: The average fees for brokered loans ($4,000) are higher than the average for direct lender loans ($3,150). Upfront cash charges paid by the borrower average $1,400 for direct lender loans and $1,600 for brokered loans. Other findings: Loans made by [...]
Filed under: Mortgage Mania, The Market | Tagged: African American, banks, broker, credit union, fee, Latino, minority, mortgage, title | 7 Comments »
