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347 Flagstar workers lose jobs as mortgage business plummets; most in Michigan
Late in 2013, for example, it agreed to settle disputes with government-sponsored mortgage lenders related to bad mortgage loans the bank made during the housing bubble and prior to collapse. “We're trying to build a much stronger company here

Small Lenders Wary as Mortgage-Lending Rules Take Effect
“We're going to be very conservative just to make sure that we're in compliance and don't get into trouble,” said Mark Walker, chief executive of Michigan Mutual Inc., a 300-employee lender based in Port Huron, Mich. “There are going to be loans that

Is It Ever Wise to Make Early Withdrawals From Your 401(k)?
them through their retirement years. But what if real-life needs intrude - such as mortgage payments, or a child's college education or credit card debts - and the holder must withdraw funds from the 401(k)? taking such a dramatic course of

State Updates; Storm May Lead to a Quiet Market; Hiring of and...
For more information on Michigan's consumer protection laws check out its FAQ. CHLA has also been active in efforts to establish high standards for all mortgage loans originators, thus leveling the playing field between banks and non-banks. CHLA

Commercial Mortgages Loans Michigan commercial loan or home commercial loan Michigan lenders provide financing and Hard money loans refinancing nationwide ...

Lake Michigan Credit Union promotes Jenny Wagner to Mortgage Loan Originator

Street-Byron Center and Knapp Corner branches. Wagner’s new position is a promotion from her previous position as a LMCU mortgage training consultant.

Wagner is looking forward to her new career challenge. “I have a unique technical skill-set that translates nicely to a lending environment. My combination of underwriting, teaching and training backgrounds should allow a seamless transition to my new mortgage origination role. I am eager to serve LMCU’s members and offer them a smooth mortgage process.”

LMCU Vice President of Regional Mortgage Production, Andrew Clarkson, is pleased to welcome Wagner to his team, “Jenny transitions into her new role after training loan officers for the last five years.  She has held roles in underwriting, mortgage operations and sales training over the past 20 years. This new chapter is a natural one that will showcase her true passion – guiding members through the mortgage process. I am quite excited to have Jenny on our team, along with her analytical and outgoing mindset.

Tech, banks lead US stocks sharply higher; Oil heads lower

TOKYO (AP) - Asian shares rose Tuesday as news that the U.S. and China are open to negotiating to avert a trade war put investors in a buying mood, setting off a rebound on Wall Street.

KEEPING SCORE: Japan's benchmark Nikkei 225 added 1.7 percent in morning trading to 21,110.68. A weaker yen also boosted sentiment. Australia's S&P/ASX 200 added nearly 0.7 percent to 5,828.90. South Korea's Kospi edged up 0.5 percent to 2,448.42. Hong Kong's Hang Seng added 0.9 percent to 30,826.59, while the Shanghai Composite index rose 0.9 percent to 3,161.97.

WALL STREET: The U.S. market rebounded from its worst week in two years. The Standard & Poor's 500 index advanced 2.7 percent to 2,658.55. The Dow Jones industrial average gained 2.8 percent to 24,202.60 after losing more than 1,400 points last week. The Nasdaq added 3.3 percent to 7,220.54, while the Russell 2000 index of smaller-company stocks picked up 2.2 percent, to 1,543.72.

CHINA FACTOR: The fears of worsening trade tensions eased after China's government said it is open to negotiating with Washington. That announcement followed a news report indicating that U.S. officials have submitted a list of market-opening requests.