Articles Tagged with ''mortgage lending''

Reverse mortgage lender AAG expanding into traditional mortgage lending

Plans growth throughout 2018
American Advisors Group is one of the nation’s largest reverse mortgage lenders, but now, the company is expanding into traditional forward mortgage lending as well. According to AAG, it began piloting forward lending in 2017, and the company is now ready to roll out forward mortgages on a large scale.
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CEO of banned lender Seckel Capital charged with lying to HUD

John Seckel accused of making false statements to HUD about company’s finances
Back in July, HUD banned mortgage lender Seckel Capital from originating or underwriting FHA-backed mortgages after an investigation found that company repeatedly lied to the FHA about its financials. As part of the action, HUD also suspended the company’s owner and CEO, John Seckel, from doing business with the federal government. As it turns out, the government isn’t done with Seckel yet.
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Better Mortgage launches in Texas

Online mortgage lender adds Texas as 14th market
Consumers in the Lone Star State can now turn to online lender Better Mortgage for their mortgage needs. The company expanded its base throughout 2017, most recently expanding to Florida in August. Texas is the company’s 14th market.
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Ric Spiehs named president and CEO of CoastalStates Mortgage

Company formerly known as Homeowner’s Mortgage Enterprises
CoastalStates Mortgage, the mortgage lending arm of South Carolina-based CoastalStates Bank, announced this week that it named Ric Spiehs as the company’s president and CEO. According to CoastalStates, Spiehs spent a “brief stint” with the parent company bank from 2013 to 2014.
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Redfin Mortgage expanding to Pennsylvania

Online real estate brokerage began lending in Texas, Illinois, and D.C. last year
Last year, Redfin rolled out a mortgage lending operation in Texas. Then, Redfin expanded its mortgage operation to include Illinois and Washington, D.C. Now, Redfin Mortgage is expanding once again, and will begin offering mortgages to borrowers in Pennsylvania.
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New homes sales at highest level in a decade

When will housing contribute to GDP?
While this is good news for the market, there may be a bigger, better knock-on effect for the national economy if this keeps up. Read more for the latest indicators and where housing stands as part of the greater national economy.
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