Hi Friends!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A with more Nationwide Mortgage news from my friend Herman Thordsen (www.lendinglaw.com). Did you know that the CFPB has issued over 3,000 pages of new rules? Some light reading for thought.
1. New Reg Z rule from CFPB with all the rules for loan originator compensation.
2. More rules from CFPB including servicers.
3. Three California District Attorneys sued Fidelity National and Fidelity National Financial stipulates to $875,588 judgment in civil penalties for using software with real estate brokers resulting in illegal kickbacks.
4. Owner of Liberty Mortgage in Elk Grove, California found guilty of mortgage fraud.
5. Singer in California rock band accused of multi-million dollar mortgage fraud.
6. California foreclosure updates.
7. California Attorney General arrests six people for using fraudulent websites related to mortgage modifications in one form or another
8. California woman gets ten years in federal prison from Florida court for mortgage fraud. Notice how the sentences are getting heavier the more the federal prosecutors go on. Note that a lot of the loans occurred in the same time period but the sentences are getting heavier because of the severity of the problem.
9. Sarasota, Florida man gets 5 years in prison for mortgage fraud. And this was after he pled guilty!
If you would like a trust to protect assets contact Sean Thordsen 888-667-8529
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Click here to download a free copy of the full report.
That’s it for this time! Make it another great day!
Your Hard Money Lender in Tucson and Southern Arizona,
Billy A
P.S. I want to be your favorite Hard Money Lender in Tucson and Southern Arizona, so please don’t keep me a secret! If you, your friends or family need help with funding, I’d be happy to give them free information without any obligation. Please give me a call at:
(520) 299-4878!