The NMP Blog

Loan Officer Imprisoned close so she can have contact with her 18-month-old son

Submitted by Prevent Mortgag... on March 04, 2010

A former loan officer at a Texas Mortgage Company was sentenced last week to 31/2 years in federal prison and ordered to pay $751,075 in restitution for faking mortgage documents sent to the U.S. Department of Housing and Urban Development. U.S. District Judge Terry Means recommended that Ingles be imprisoned close to Fort Worth so she can have contact with her 18-month-old son, who will be in... Read More

Ronald Reagan

Submitted by Prevent Mortgag... on March 03, 2010

"Freedom is never more than one generation away from extinction.
We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like in the United States where men were free." -- Ronald Reagan

Deceased Grandmother used to conceal “Forged Warranty Deeds” Fraud Scheme

Submitted by Prevent Mortgag... on March 03, 2010

A Texas man was arrested on federal charges that he stole actual houses in an elaborate scheme involving fake buyers and fraudulent titles, prosecutors said. He is alleged to have taken over 100 homes and other properties worth more than $1 million.
The scheme, according to the complaint, involved the filing of affidavits listing a fictitious person as the heir of a property left to them... Read More

What You Need To Know About Loan Modification Assistance

Submitted by refinance01 on March 02, 2010

A loan modification is a change in the terms of a loan, usually the interest rate, payment or term; making the payment more affordable for you. There are steps you need to take before applying for a loan modification seeking Loan Modification Help.
The goal of a loan modification is to make it easier. Many bank lenders will be happy to look into loan modification programs for you, since... Read More

HUD- Major Step in the Fight Against Loan Modification Scammers

Submitted by Prevent Mortgag... on March 01, 2010

The U.S. Department of Housing and Urban Development (HUD) issued a press release announcing its partnership with the Loan Modification Scam Prevention Network in launching the website and national scam complaint form. It is a "a major step in the fight against loan modification scammers,"
“Homeowners at risk of foreclosure can be easy prey for home loan... Read More

What Can LOs Learn From the 2009 Year-End Review for Quality Control?

Submitted by Tommy A. Duncan on March 01, 2010

For starters, loan officers can learn to be responsible for the items in the loan process that reflect directly to loan officer’s work. The Application 1003 initial and final is a good place to start.
When comparing non-supervised mortgagees (non-bank lenders) and supervised mortgagees (bank lenders), the initial Application 1003 ranks number one in problems with non-bank lenders at 11.... Read More

The Devil is in the Definition

Submitted by Paul Donohue on March 01, 2010

Do you know who in your organization must be licensed as a “Mortgage Loan Originator?” It’s a vital question that will affect processors, underwriters, how you communicate with your borrowers and how you supervise your employees. The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) did away with our old notions of just who must be licensed. On this point, the devil is deep in... Read More

Florida Real Estate Appraiser going to Prison- Mortgage Fraud Scheme

Submitted by Prevent Mortgag... on February 27, 2010

A Jacksonville, Florida appraiser has been sentenced to four years in federal prison as he and his fraudster partner, contracted to purchase about 55 houses and commit fraud. He would appraise most of the properties then his partner swindler would submit the fraudulent inflated appraisals to support the purchase price.
They both did this with intent to submit the appraisals to lenders in... Read More

Rejuvenating Your Business!!

Submitted by Tom Ninness on February 27, 2010

Rejuvenating Your Business
Rejuvenation often brings to mind plastic surgery. As a verb, to rejuvenate means ‘to become young again, to return to life or give new life or energy and to develop new youthful features’. Perhaps it is time to do a little plastic surgery on your business.
The root word for rejuvenate is “juvenile”. Juveniles are young children who act and play without... Read More

Former Pastor- $1 Million+ Judgment -Real Estate Fraud and more

Submitted by Prevent Mortgag... on February 26, 2010

Jeremiah Yancy appears to have used his ministerial trusting relationships for personal gain. He has lived in the Boise, Idaho area, Tucson, Arizona and Colorado Springs, Colorado. He has been called a con-man who has convinced trusting church families and friends with high FICO scores to invest in his Ponzi-type scams. It has been reported that he convinced them to take out large lines of... Read More