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American Home Mortgage Servicing Inc SHORT SALE! - Phoenix, AZ

www.azkcrealestategroup.com Kelly Cook with the KC Real Estate Group, short sale experts in Arizona, discuss the steps of a short sale with ...

Capital One to exit mortgage originations, cut 1100 jobs

“These businesses are in a structurally disadvantaged position, given the challenging rate environment and marketplace,” Sanjiv Yajnik, president of financial services at Capital One, said in a memo to employees. “These factors do not allow us to be both competitive and profitable for the foreseeable future.”

Capital One had about $20.6 billion of residential mortgage loans as of June 30, according to data compiled by Bloomberg Intelligence. That made it the 12th-largest mortgage lender among banks.

Home lending has become increasingly competitive as nonbank financial institutions like Quicken Loans have entered the space, touting platforms that let users apply for loans on smartphones and get money faster. Nonbanks accounted for more than than 70% of Federal Housing Administration loans as of July, and Quicken is the second-largest mortgage provider in the U.S.

Capital One will still provide loans for affordable housing and multifamily financing to real estate developers and investors, a spokesman said.

Texas-based Mid America Mortgage to Purchase Assets from Two ...

ADDISON, Texas, Nov 13, 2017 (SEND2PRESS NEWSWIRE) — Mid America Mortgage, Inc. (Mid America) announced it has signed a letter of intent to purchase the assets of Oklahoma City-based American Southwest Mortgage Corp. and an affiliated firm, American Southwest Mortgage Funding Corp. As part of the agreement, Mid America will incorporate American Southwest’s operations into Mid America’s mortgage platform and secure an interest in their respective pipelines and select assets. Further, Mid America will also offer employment to loan production staff members from each organization.

Pending a signed agreement, the transfer of operations and assets should be completed by December 1. Financial terms of the proposed agreement have not been disclosed.

“Mid America’s commitment to delivering a faster, more efficient mortgage process via technology has put us in a unique position to partner with firms like American Southwest to revitalize and streamline their operations, which ultimately provides their customers with better service,” said Mid America Owner and CEO Jeff Bode. “As we make this transition, we do so with an eye toward minimizing disruption to American Southwest’s existing customers while also migrating its pipeline to our fully digitized origination and closing process.”

What do you think of illegal aliens and subprime loans impact on economy?

http://www.nypost.com/seven/09242008/pos topinion/opedcolumnists/illegal_aliens__ the_mortgage_mess_130482.


It is very, very correct. If you spoke Tex Mex and lived on the border, the illegal aliens bragged about the fact that the Government wanted them up here.. they gave them a house.