Recent FHA changes: What you need to know

National Mortgage Professional

Dec 09, 2007

Loan Score joins AUS with Desktop UnderwriterMortgagePress.comMortgage automated underwriting software Loan-Score Decisioning Systems LLC (LSDS) has integrated its automated underwriting system (AUS) with Fannie Mae's Desktop Underwriter. The integration enhances the ability of users of LSDS' AUS to underwrite conforming, Federal Housing Administration and other government loans, by adding embedded functionality that directly incorporates Desktop Underwriter findings into LSDS' pricing and automated underwriting decision. Irvine, Calif.-based LSDS is a provider of enterprise-class automated underwriting solutions for lending institutions. For more information, call (800) 617-0892 or visit www.loan-score.com.

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Dec 09, 2007

Regulation and Compliance

L.A.-Area Broker To Serve Time For Defrauding Lenders

Alex Ashod Dadourian convicted on 91 counts for $8 million in mortgage fraud.

In an attempt to increase his commissions, a Southern California mortgage broker engaged in an $8 million mortgage fraud scheme. His efforts have landed him a jail sentence of five years and four months, along with a demand for restitution. California Attorney General Rob B...

Wholesale

EPM Denies Halting Sponsorship Payments Due To 'Margin Call'

Refutes claim made in race car sponsorship lawsuit.

A partner with Equity Prime Mortgage LLC (EPM) on Thursday denied an allegation in a recently dismissed lawsuit that his company stopped paying a race car sponsorship because of a "margin call." Phil Mancuso, a partner and chief investment officer for EPM, said in a teleph...