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Mortgage and Valuation Fraud: Prevention Tips from the Appraisal Institute of Canada

OTTAWA, March 3, 2015 /CNW/ – March is Fraud Prevention Month and the Appraisal Institute of Canada (AIC) would like to remind Canadian consumers, lenders, mortgage brokers, lawyers, appraisers and anyone else relying on an appraisal, to be diligent about potential valuation fraud that may occur during the mortgage financing process. Valuation fraud is the misrepresentation of an appraisal …

Hunt Mortgage Group Closes Seven FHA Deals

Hunt Mortgage Group, a commercial real estate lender, announced today that it has financed seven affordable housing projects with FHA/HUD loan facilities. The total Hunt investment is $102 million and …

Ocwen to sell servicing rights on $45 bln of Fannie Mae loans

Mortgage servicer Ocwen Financial Corp said it would sell residential mortgage servicing rights on $45 billion of Fannie Mae loans to an undisclosed buyer, sending its shares up 5.5 percent in extended trading. The announcement comes a week after Ocwen said it would sell servicing rights on $9.8 billion of loans backed by Freddie Mac to Nationstar Mortgage Holdings Inc, as part of a strategy to …

740 credit score is mortgage sweet spot

Today's lowest mortgage rates and fees go to borrowers with credit scores of 740 or higher. This is a change from a few years ago, when a 720 credit score was good enough to merit the best deals. The fees are higher for borrowers with credit scores of 700 to 719, and they continue to kick higher for every 20-point drop. “What used to be great is now only good,” says mortgage broker Todd Huettner …