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Amador Mortgage

Patty Amador at House Financial Services Field Hearing

Patty Amador, President, Ambeck Mortgage Associates of Modesto, CA speaks about downpayment assistance and HR 6694 at the House Financial Services ...

American River Bankshares (NASDAQ:AMRB) and County Bancorp (ICBK) Head to Head Survey

About American River Bankshares

American River Bankshares operates as the holding company for American River Bank that provides commercial banking products and services to small and middle-market businesses, and individuals in California, the United States. The company accepts checking and savings deposits; and offers money market deposit accounts and certificates of deposit. It also provides commercial, commercial real estate, multi-family real estate, commercial and residential real estate construction, residential real estate, agriculture, consumer, and other installment and term loans, as well as other customary banking services. In addition, the company conducts lease financing for various types of business equipment ranging from computer software to heavy earth-moving equipment. It operates four full-service banking offices in Sacramento County, one full-service banking office in Placer County, two full-service banking offices in Sonoma County, and three full-service banking offices in Amador County. The company was formerly known as American River Holdings and changed its name to American River Bankshares in 2004. American River Bankshares was founded in 1983 and is headquartered in Rancho Cordova, California.

Wells Fargo Fined $1B For Insurance And Mortgage Abuses

(CNN Money) — Two federal regulators are fining Wells Fargo $1 billion for forcing customers into car insurance and charging mortgage borrowers unfair fees.

The penalty was announced early Friday by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency.

It is the harshest action taken by the Trump administration against a Wall Street bank.

Wells Fargo apologized last year for charging as many as 570,000 clients for  car insurance they didn’t need.

An internal review by Wells Fargo found that about 20,000 of those customers may have defaulted on their car loans and had their vehicles repossessed in part because of those unnecessary insurance costs.

In October, the bank revealed that some mortgage borrowers  were inappropriately charged for missing a deadline  to lock in promised interest rates, even though the delays were Wells Fargo’s fault.

CEO Timothy Sloan said Friday that the scandal-plagued bank has made progress toward “delivering on our promise to review all of our practices and make things right for our customers.”