Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Mortgage

Former employees accuse Colorado mortgage company of widespread mortgage fraud

Accuse American Financing Corp. of defrauding Wells Fargo, JPMorgan Chase, others

Four former employees of a Colorado mortgage originator claim in a lawsuit that their former employer fired them for trying to blow the whistle on widespread mortgage fraud taking place at the company.

The Denver Post has the details on American Financing Corp., an originator based in Aurora.

Here’s the skinny from the Denver Post:

The mortgage originator allegedly misled at least a half-dozen banks and finance companies with faked documents and consumer loan applications, according to the whistle-blower lawsuit.

The action in Arapahoe County district court claims managers at the company knew of the alleged mortgage fraud the employees discovered and, in some cases, worked hard to try to cover it up.

The four employees claim that they were concerned by the company’s alleged actions and brought those concerns to their superiors, only to be suspended and ultimately fired.

Again from the Denver Post:

Some of the alleged fraud was brazen, including assertions that potential borrowers’ income tax returns were intentionally withheld to hide potentially adverse information, relying instead on their W-2 forms.

The banks allegedly defrauded include JP Morgan Chase, Wells Fargo, US Bank, Flagstar Bank and PennyMac, according to the lawsuit, and other institutions include the Colorado Housing and Finance Authority.

According to the report, the company claims that the allegations are false and plans to “vigorously” defend itself.

For much more on the story, click here or below.

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