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Defendants Bilk Lenders, Seniors in Georgia Reverse Mortgage Fraud Scheme
Defendants Bilk Lenders, Seniors in Georgia Reverse Mortgage Fraud Scheme Two defendants were charged Friday for their roles in a reverse mortgage fraud scheme that targeted elderly homeowners in Georgia. The defendants, Edmund Chatham, of Roswell, Ga., and Steven Connelly, of Alpharetta, Ga., were indicted on one count of 

Foreclosures down by 61% from last Jan.
Those include the slowly falling unemployment rate and the fact mortgage companies have more options to work with borrowers. Another factor is the market is no longer dealing with pending foreclosures, which had previously been stalled in litigation

Industry Veteran Clay Cornett to Lead ALAW Sales Efforts
24, 2014 -- /PRNewswire-iReach/ -- ALAW, the premier provider of legal services for the mortgage banking industry, today named industry veteran Clay A. Cornett to lead the Firm's sales and business development efforts in as executive vice president of

Georgia Reverse Mortgage Fraudsters Charged, Ibis Rolls Out New Programs
recent study that explores why consumers take adjustable rate versus fixed rate loans. And looking to the fraud story, Hicks tells all about a scam in Georgia that targeted reverse borrowers and bilked both lenders and the federal government in the

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AP FACT CHECK: Ads attack Stitt's mortgage business record

OKLAHOMA CITY (AP) — Republican nominee for Oklahoma governor Kevin Stitt has been criticized by his Democrat opponent for his record as the head of a mortgage company.

Stitt, running as a businessman and outsider, is locked in a tight race against Democratic Drew Edmonson, a former attorney general who served 16 years before making an unsuccessful bid for governor in 2010.

Democrats have attacked the business record of Stitt, who founded Oklahoma-based Gateway Mortgage Group in 2000 and stepped down as the company‘s CEO in August, before he secured the GOP nomination in the race to replace term-limited Republican Gov. Mary Fallin.

The Democratic Governors Association takes aim at his history with Gateway in a television ad that began running earlier this month.

A look at the claims:

AD: “Stitt‘s company was ranked one of the shadiest mortgage lenders … and has been sued dozens of times, and suspended in multiple states.

Need advice about mortgage lender?

I already got quotes for a mortgage from a commercial bank broker that has 1% origination fee. His fees seem reasonable. He said closing costs will typically be 3.5% of loan amount.

For one thing go with a lender that doesnt charge a commission because that guy is not working in your best interest hes going to screw you by selling you guys whats going to make him the most money.

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