Review Mortgage Lenders

Allied Mortgage

Allied Mortgage - News


Smooth Passage
http://www.onlinegooner.com/article.php?section=editorial&id=471
Smooth Passage Hopefully Bendtner's inept performance will force Wenger's hand in the transfer market but you wouldnt want to put your mortgage on it. The thought of him Allied to this is the number who cannot get to the game on time or have to leave early. Have to?

RICS: Lenders must stop 'confetti' claims to ease valuation delays
http://www.mortgagestrategy.co.uk/news-and-features/latest-news/rics-lenders-must-stop-confetti-claims-to-ease-valuation-delays/2005746.article
The report was commissioned following an investigation by , which mystery shopped three of the UK's biggest valuation firms. However, Allied Surveyors chief executive Robert Pearson says he cannot see an end to the “confetti” letters.

Champion Awards Rebrands As T-Shirt Champions
http://www.memphisdailynews.com/news/2014/jan/25/digest/
Mortgage buyer Freddie Mac said Thursday the average for the 30-year loan declined to 4.39 percent from 4.41 percent last week. The average for the 15-year loan slipped to 3.44 percent from 3.45 percent. Mortgage The event, to be held in the lower

Demonizing Edward Snowden
http://www.counterpunch.org/2014/01/24/demonizing-edward-snowden/
With the exception of a promise that a handful or so of select, still unnamed heads of state who are deemed to represent “friendly and allied nations,” no one, including top government officials around the world, would be exempt from National Security

About Allied Mortgage Direct

alliedmortgagedirect.com

Jury Awards $93 Million in Federal Fraud Case Against Allied Home Mortgage

A federal jury has ordered two Texas-based home mortgage companies and their chief executive to pay nearly $93 million for defrauding the government by issuing improper and risky home loans that later defaulted.

The companies, formerly known as Allied Home Mortgage Capital Corp. and Allied Home Mortgage Corp, and their founder, Jim C. Hodge, were the subject of July 2010 stories by ProPublica , which detailed a trail of alleged misconduct, lawsuits and government sanctions spanning at least 18 states and seven years. Borrowers said they’d been lied to by Allied employees, who in some cases had siphoned loan proceeds for personal gain. Some borrowers had lost their homes.

Despite the years of warnings, the federal government didn’t restrict Allied’s ability to issue mortgages until 2011, when prosecutors intervened in a pending whistleblower case and sued Hodge and both Allied companies in U.S. District Court in Manhattan. Simultaneously, the U.S. Department of Housing and Urban Development suspended Allied and Hodge from issuing loans backed by the Federal Housing Administration. Allied was also barred from issuing mortgage-backed securities through the Government National Mortgage Association (Ginnie Mae).

Allied Home Mortgage, CEO Jim Hodge ordered to pay $92 million for FHA fraud

Now, after a long legal battle , the government secured a victory against Allied Home Mortgage and Hodge, as this week, a federal jury unanimously found Allied Home Mortgage and Hodge liable for civil mortgage fraud.

The jury found that Allied Home Mortgage and Hodge did indeed commit False Claims Act violations and FIRREA violations and awarded the United States a total of $92,982,775 in damages, including $7,370,132 against Hodge.

While it’s a far cry from the $834 million the government initially sought, the damages are eligible for trebling under the terms of the False Claims Act, meaning it could rise to as high as $279 million.

Additionally, the FCA provides for a penalty of $5,500 to $11,000 for each violation, the government noted in a release. FIRREA also provides for a penalty for each statutory violation. The Court will determine the amount of the penalties at a later date.

According to information provided by the government, Allied Home Mortgage Capital originated FHA-insured mortgage loans. 

Breaking News: Ally Financial's mortgage unit?

ready to file for Bankrupcty. Should we be concerned..?

ALLY Financial is the country's 5th largest Lender, whatever that means.

What kind of company is ALLY Financial.? and should we be concerned?