DSNews reports the closure of four more lending banks: La Jolla Bank, FSB in La Jolla, California; George Washington Savings Bank, Orland Park, Illinois; Marco Community Bank, Marco Island, Florida; and The La Coste National Bank, Lacoste, Texas. This brings the number of failures on the FDIC list to 20 for this year. Nearly all [...]
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Roseann Wagner, 45, of Prior Lake, Minnesota was sentenced in federal court for stealing more than $470,000 for payment of title insurance premiums and recording fees. Wagner, a licensed insurance agent, owned and operated Tri-Star Title, a title insurance agency. The investigation also found that Wagner had withdrawn nearly $100,000 from ATMs and cashiers at a [...] Today’s news for the Title Insurance Industry is not good, reading like a bad novel… In Georgia [...] Judge Cancels loan debt because lender does not deal in good faith to modify sub-prime [...] I found this lawsuit to be a perfect case study in what I would title “ How to Destroy Faith in the U.S. Mortgage Backed Security [...] Title Insurers and Closers, beware. CNBC has picked up yet another RESPA violation. It would seem that some second mortgage lenders are asking for “payments on the side – i.e. off the closing statement,” (clearly illigal under RESPA) in order to release liability under the second mortgage. Their leverage is, if you don’t pay, we [...] |
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