October 8, 2015 Regarding: 907 Mimosa, Vacaville CA 95688 Offer from Robert Asmus & Catherine Asmus Dear Mr. & Mrs. Spencer, Please see attached offer for your property on 907 Mimosa Dr. From Mr. & Mrs. Asmus. This offer is for full asking price of $569,000, Conventional/Jumbo loan. The buyer is paying for her own Title and Escrow, with a 45 day close of Escrow. My clients have been preapproved by Quicken loans, and is also working with another local lender Jack Kammer, from Scenic Oaks.…
Private Mortgage Advisors, LLC is a mortgage brokerage firm that is located in Danville, California. This mortgage lending agency was established in 2004. Their loan options include purchase loan and refinance. Their purchase options include conventional financing, Federal Housing Administration loans, FHA 203k loan also known as a rehabilitation loan, fixed-rate loan, Veteran Affairs loans, and adjustable-rate mortgage loan. Private Mortgage Advisors, LLC delivers the highest class of service.…
Jacksonville. It's the type of place where people live on their boats in the marina, just waiting for the opportunity to take said boats out on the St. Johns River. Where life and culture intersect. Where life is lived out loud. But sometimes due to your poor credit and finances, you feel left out of Jax's dynamic loop.…
PennyMac Loan Services, LLC is required to have physical safeguarding controls in place to secure consumer, employee, and Company Sensitive Information and maintains an Information Security Policy to do so. All individuals granted physical access to any Licensee facility are provided a badge, and must scan their badge prior to entering the premises. Individuals who are not issued a badge must log-in with the Security Desk prior to entering a facility. All employees must maintain a Clean Workspace, which includes desks, computer screens, printers and printer rooms, mail bins, conference rooms, cubicles and offices. All employees must keep workspaces free and clear of any documentation containing Sensitive Information, maintain locked drawers…
Fannie Mae foreclosures are properties that the mortgage agency seized from homeowners who defaulted on their payments, explains HUDForeclosed.com. The Federal National Mortgage Association, known as Fannie Mae, is not a direct lender; however, the agency does purchase mortgage loans from direct lenders. As of 2015, Fannie Mae owns over half of all mortgage loans in the United States, according to HUDForeclosed.com. Since Fannie Mae purchases mortgage loans from direct lenders, the agency holds the rights to the loans and the properties backing the loans. Therefore, when borrowers default on their mortgage payments, Fannie Mae holds the rights to foreclose on the properties.…
The three most important aspects, I think, in the article are: Home Owners Loan Corporation (HOLC), how FHA encouraged racism and classism, Edgemoor Terrace. HOLC is important because it transformed how Americans can buy their homes; the law that worked so well that we are still using it 84 years later. Second, how FHA encouraged racism and classism; it’s interesting to see how even through something intangible, people can still be racist and classist. This is important because of this, “red lining” happened and is still happening. We can see how some neighborhoods are getting more funds to build better/newer playgrounds, schools, parks, and overall, just to make/keep the neighborhood looking good.…
A super jumbo mortgage usually consists of financing greater than $1,000,000 for a purchase or refinance transaction, reports Mortgage 101. However, since super jumbo mortgages are not backed by any government agency, the loan limits vary by lender and region. Jumbo mortgages are any loan amount greater than $417,000, as of 2015. The government sponsored agencies Fannie Mae and Freddie Mac set the loan limits. Fannie and Freddie buy mortgages from banks and lenders and securitize the loans for investment purposes.…
Prior to the 1970s, discriminatory lending practices became hidden produces in central cities across the nation. The origins of fair lending litigation can be traced back to a 1976 redlining case in Oakley, Cincinnati. It was not until 1968, when the Fair Housing Act and other federal provisions regarding discrimination became law binding. A precedent regarding the application and interpretation of the anti-discrimination provisions was waiting to be set for local neighborhoods in the United States. Robert Laufman, a leading Cincinnati civil rights attorney, would be the one to set such a precedent by brining the first fair lending case to the federal courtroom.…
Cambria Mortgage was formed on July 8, 2008 in the State of Minnesota and became licensed as a money broker in the State of North Dakota on October 28, 2010. In additional to Minnesota and North Dakota, Cambria Mortgage also maintains licenses in Colorado, Florida, Iowa, South Dakota, and Wisconsin. Cambria Mortgage is primarily owned by Mark M. Davis (49.5%) and Martin E. Davis (49.5%). Cambria Mortgage was organized for the primary purpose of engaging in residential mortgage origination and consumer and commercial financing. Cambria Mortgage operates as a loan correspondent and was approved by the Federal Housing Administration in January 2014 to be a Title II mortgagee authorizing the Licensee to originate FHA insured single family mortgages.…
In March 1933, millions of people faced the loss of their homes due to large-scale unemployment and by wage reductions in the Great Depression. Many borrowers were unable to meet mortgage payments resulting in a wave of foreclosures and homelessness. The Home Owners Loan Act of 1933 and the Home Owners' Loan Corporation Act was passed by Congress on June 13, 1933 and created the Federal Home Loan Bank Board (FHLBB). The FHLBB was directed to establish a new federal agency, the Home Owners Loan Corporation (HOLC) to provide emergency relief to lower mortgages, to help stabilize real estate that had depreciated, to stop foreclosures and provide relief for troubled mortgage lenders. Home Owners Loan Corporation Franklin D Roosevelt (FDR) was…
Countrywide Mortgages is still in business today. Any business that has been around for all these years must be doing something right. Countrywide was cofounded by Angelo Mozilo in 1969. In the early 2000’s Countrywide Mortgages became the largest provider of home loans in the United States. At that time one and six mortgage loans originated with Countrywide.…
During the year 2007, the housing market in the United States experienced one of the greatest recessions in history. In result, many companies either filled bankruptcy or closed their doors. In the midst of this crisis, the mortgage lending company Quicken Loans developed a corner on the market. As a result, the company’s founder Dan Gilbert became a face of the house market. In a 2014 article entitled “What kind of track records do Quicken Loans and Dan Gilbert have in Detroit?…
The subprime mortgage crisis of 2008 continues to be a hot topic today because it still impacts the lives of people today. Consequently, there are many theories explaining why this crisis happened, who were key players, and who were negatively impacted. It is clear that subprime mortgages existed because it provided attractive returns however, these attractive returns came with extremely high risks that eventually did not work out in both the lenders and borrowers favor. According to Pajarska and Jociene (2014) the subprime mortgage crisis was caused by the credit boom and the housing market bubble.…
1. Introduction Banking is a network of corporations and regulations that provide a variety of financial services. Basically, banking services provide holding money on behalf of customers, providing loans to businesses and individuals, providing investment and insurance services and so on. Banking system is usually regulated by country’s laws and central banks of individual countries. Finance is usually defined as the science of money management.…
Bunga Raya Bank was known as one of the largest and well known national bank that prides itself on achieving healthy profits each of year. But, along the few years, the economy was in its state of undesirable. This problem has to affect the profits of Bunga Raya Bank which can be seen that the profits were influenced by the inflation rate as well as they also have to compete with other major banks. Inflation is basically known as two terms either the rising price of goods or fall value of money (Kennon, 2015). Apart from that, with a lot of branches, the Board of Bunga Raya Bank found it difficult to manage the smaller branches especially in a particular region.…