Review Mortgage Lenders

American One Mortgage

American One Mortgage - News


New mortgage rules are mixed blessing for borrowers
http://america.aljazeera.com/articles/2014/1/10/new-mortgage-rulescreatemixedblessingforborrowers.html
New mortgage rules are mixed blessing for borrowers One of the chief elements of the Dodd-Frank Act, passed in 2010 to bring greater regulation to the banking industry, the new rules require lenders to verify that borrowers have good credit and will be able to maintain payments. . But those changes

Time to Quit Mortgage Banking?
http://www.americanbanker.com/bankthink/time-to-quit-mortgage-banking-1064881-1.html
Interest Rate Risk: Mortgage rates have been dropping for 30 years, and it's a good bet that they've already hit their bottom with only one direction to go. Mortgage banking operators always claim to be fully hedged, but sudden spikes in interest rates

The Tale of a House, and an Entire Market
http://www.nytimes.com/2014/01/26/business/the-tale-of-a-house-and-an-entire-market.html?hpw&rref=business
One of them, at 12204 Backus Drive in Bowie, Md., was a four-bedroom colonial with a bay window. The average home price that year was $150,000; this house, in a desirable middle-class suburb of . They are joined in that belief by a vast majority of

Canadian versus US mortgages
http://www.winnipegfreepress.com/opinion/analysis/Canadian-versus-US-mortgages-241871271.html
They'd love to be rid of the borrower-friendly 30-year fixed mortgage, but also rid of regulations that would prevent them from piling on to borrowers in so many other ways. They don't want an improved system in the U.S., just one that's better for

Lewis Black on Broadway talking about how America ISN'T #1

This is the truest thing Lewis Black has ever said.... which is why it's so damn funny.

Mulvaney vows to 'bring sanity' to Qualified Mortgage rule

The industry has long argued the rule was written assuming all mortgages were the same without taking into account the different types of lenders and mortgage products. Mulvaney appeared to agree with this criticism, specifically contrasting the widely popular digital Rocket Mortgage from Quicken Loans Inc. to getting a home loan from a small credit union.

“If you think you can have a one-size-fits-all rule for every single mortgage, you don’t understand the mortgage business,” Mulvaney said.“There’s a difference between the mortgage that goes out on Quicken, or Rocket Mortgage . . . and the one that my local credit union does for someone that they’ve known for three generations. Those are not the same thing, and to think that we’re going to try and force a square peg into a round hole impairs the ability of the market to function properly.”

The CFPB is already supposed to review the impact of the QM rule this year because the Dodd-Frank Act requires the bureau to review rules five years after they take effect. Mulvaney's comments appeared to indicate the agency was open to making further changes than beyond a simple review.

Mutual of Omaha to buy national mortgage lender

Mutual of Omaha Bank in Nebraska has agreed to buy Synergy One Lending, a national mortgage lender in San Diego.

The $8.1 billion-asset Mutual of Omaha said in a press release that the acquisition would expand its product offerings to include reverse mortgages. Synergy One will benefit from Mutual of Omaha’s “financial strength, strong brand and national presence,” Jeff Schmid, the bank's chairman and CEO, said in the release.

The deal is expected to be completed in June. Mutual of Omaha did not disclose the price.

Synergy One, licensed in 45 states, offers home financing products and services, including mortgages and reverse mortgages through a network of loan officers, mortgage brokers and direct sales channels. After the deal closes, Synergy One will operate as a unit of Mutual of Omaha while keeping its name and headquarters.

“We are a strong cultural fit — with both of us committed to collaboration, accountability and customer-focus — and our businesses are extremely complementary,” Schmid said. “We are excited by the potential this acquisition offers both companies to expand and serve more customers in the mortgage and reverse mortgage markets.”

My daughter worked for a division of American Mortgage called ABC Direct. She lost her job when American went?

bankrupt in Aug. '07 and is unable to find a W2 form from them. After contacting a former admin person, she was given a payroll site to get her info from, but they require a password that no one seems to know.


sometimes those sites are set up with the date of birth or employee id # as the password.