My favorite headline in the news this week was, "Mortgage companies make it tougher for buyers to obtain loans." Come on, throw us a bone! I understand the thought behind it, but why can't the headline be industry friendly, something like - "Mortgage companies resolve to protect consumers." Now that's a tag line I can live with, maybe one day.
In DoublePositive news, I'm excited to officially announce the launch of LIVE Hot Transfers Debt Leads for Debt Specialists. We've been testing the program for several months and now we're ready to open it up to all those in the debt industry. If you're interested in getting started, learning more or just have questions, please give me a call. Also, our referral incentive program combines both debt and mortgage. So if you know someone who may be interested, let us know. Call me for the details.
Have a great week!
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| Featured Articles from DoublePositive |
Sean Fenlon |
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What is cool about being a weekend blogger is getting the scoop on 2 days out of the 7-day work week (~30% — not bad). Last time a hot news item hit the wires on a weekend, it was the DoubleClick purchase by Google. This time, however, the news is about Nextag.
Full Story
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| Fraud Alert |
TheSeattleTimes |
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| A federal jury convicted a former Metropolitan Mortgage & Securities executive of three felonies Friday stemming from a shady real-estate deal that helped hasten the Spokane company's collapse.
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TheColumbusDispatch |
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| Accusing 10 mortgage lenders of "unconscionable acts," Ohio Attorney General Marc Dann yesterday sued the companies he said violated the state's 5-month-old predatory-lending law.
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Stop wasting your time chasing shadowy leads and get to work with Transfers from DoublePositive! Our transfers are different from traditional leads because they pass through two layers of screening and verification. You set the parameters and we'll connect you live to only qualified, interested borrowers.
If you don't have live call transfers of double-verified and interested borrowers in your leads mix, you should. There's no better time to try LIVE Hot Transfer Leads! Sign-up is free, there's no minimum order or long-term contracts and you can name your own price. Visit the link below to find out more:
Learn more about LIVE Hot Transfers!
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| Industry News |
Bloomberg |
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| U.S. foreclosure filings surged 90 percent in May from a year earlier as more homeowners fell behind on their monthly mortgage payments, RealtyTrac Inc. said.
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PacificBusinessNews |
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| Are mortgage defaults on the rise because lenders are lax, or because borrowers see little economic incentive to keep up the payments?
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IndianCountry |
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| Lenders that won't make mortgages on American Indian reservations are starting to feel the heat.
Full Story
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DSNews |
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| The Mortgage Bankers Association's (MBA) wholly-owned subsidiary Lender Technologies Corp. (LTC) is exploring the possibility of creating a national database that would help lenders prevent mortgage fraud. LTC issued a “Request for Information” to the industry late last week to solicit feedback from contractors and developers who have the experience to create a database that can safegaurd the industry from fraud.
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InsuranceJournal |
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| American International Group Inc. has settled with a federal banking regulator allegations that it charged homeowners excessive mortgage fees and didn't properly consider their credit ratings.
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EarthTimes |
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| Nonprime programs helped sink three more mortgage companies
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FreeP |
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| When the mortgage market for borrowers with poor credit imploded earlier this year in a wave of foreclosures and lender bankruptcies, the failure sent shock waves through the entire mortgage industry.
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CNNMoney |
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| New York Attorney General Andrew Cuomo's probe into whether mortgage brokers pressured appraisers to inflate property values as housing prices increased in recent years continues to expand.
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FayObserver |
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| Challenge Financial Investors Corp. has agreed to pay $848,000 to the North Carolina Office of the Commissioner of Banks to settle allegations of poor supervision and controls in its mortgage operations.
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| On Capitol Hill |
KPHO |
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| Arizona lawmakers approved a proposal Monday to make mortgage fraud a crime amid concerns about home prices being artificially inflated to benefit real-estate industry insiders and unscrupulous buyers.
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iBerkshires |
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| Today Governor Deval Patrick filed legislation to criminalize mortgage fraud as part of a comprehensive plan to prevent predatory lending and protect families facing foreclosures. The bill follows several regulatory changes already put in place by Governor Patrick to address the rising tide of foreclosures in Massachusetts. In April, the Commonwealth established a hotline for consumers and began assisting homeowners in crisis.
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chandlerNewsDispatch |
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| Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn‘t count on help from Washington this year. Regulators and lawmakers seem to be taking a wait-and-see approach as they confront the fallout from several years of lenders making too many home loans to people with inadequate credit.
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