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Former Dallas Cowboy out of prison after serving 3 years for mortgage fraud
A former Dallas Cowboys player is out of federal prison after serving three years for taking part in a $20 million mortgage fraud scheme, which involved at least 10 other people who were also convicted. The scheme saw the group recruit straw buyers who falsified their income documents to obtain loans for inflated prices.
Barclays mortgage bond trader fired for allegedly lying to clients
Barclays Capital fired one of its mortgage bond traders after he allegedly lied to clients about residential mortgage-backed securities trades.
Title agent gets 5 years in multimillion-dollar mortgage fraud scheme
A former real estate title agent was sentenced to 66 months in prison for carrying out a mortgage fraud scheme in which she obtained seven loans, totaling more than $3.7 million.
Yellen: If nothing changes, expect higher interest rates this year
As predicted by many economists, the Federal Reserve is indeed considering raising the Federal Funds Rate later this year, Fed Chair Janet Yellen said Friday. And if the economy improves as expected, she believes it will be “appropriate” for the Fed to raise the Federal Funds Rate this year, which in turn, would affect mortgage interest rates.
To Go: Title company closes mortgages on wheels
A Detroit-area title company is offering what its president says is the area’s first mobile closing vehicle, which brings the closing process to the client instead of the other way around. While mobile mortgage closings are nothing new, this is pretty inventive.