“As most people know I have agreed to shut down Eagle First Mortgage. The Department of Financial Institutions was gracious in allowing loans not yet closed to continue closing so as to not hurt the borrowers. We will be officially closed on March 14, 2007. I want [...]
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Shares of NovaStar Financial, which makes loans to people with weak credit, fell almost 43 percent yesterday after the company announced a surprise loss of $14.4 million for the fourth quarter and told investors that it might not make enough money to pay dividends for the next four years. Subprime lenders are not obligated to [...] BasePoint Analytics, a provider of scientific fraud anaysis and consulting services, announced the results of a new scientific study which found that up to 70 percent of early payment defaults (EPD) on mortgages can be linked to significant misrepresentation on the original loan application. The purpose of the study was to investigate the link between [...] In a strategic move, LandAmerica announced that it is moving underwtriting offices for Commonwealth, TransNation, and Lawyers Title (previously domiciled in Pennsylvania, Arizona and Virginia, respectively) to Omaha, NE “Consolidating the underwriting companies’ domicile and corporate governance into one state enables LandAmerica to comply with a single set of regulations administered by the Nebraska Department [...] Are you better off today than you were ten years ago? |
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