Fortes Financial of Dallas, buyer of five regional wholesale divisions from National City back in July, has ceased operations today dying a quiet but foreseeable death. Fortes Financial Fails Fortes Financial, the idea a viable mortgage company could be made from the ruins of other failed mortgage companies, came from mortgage maverick, Peter J. Levasseur. [...]

Amerisave is one of the largest retail mortgage lenders in the country, with over 1500 employees serving customers in all 50 states and DC. We uncovered 2 phone numbers, a website, and a link for customer complaints. Amerisave Mortgage Website and Phone Contacts Website: www.amerisave.com Phone: 866.970.SAVE (404) 424-0632 (404) 260-7507 (404) 260-7524 (668) 283-400 [...]

Ben Bernanke pulled out all the stops and lowered the federal funds rate to the lowest rate in history signifying a target range of zero to .25 percent. The New York stock exchange reacted favorably to the announcement. Federal Funds Rate Cut The Federal Funds Rate is the rate banks use when lending to each [...]

Universal American Mortgage (UAMC) is the subsidiary mortgage lending arm of Lennar Corporation (NYSE: LEN) owner of Lennar Homes, one of the nations largest home builders. We located three telephone numbers, two websites, and a link to customer complaints. Lennar and Universal American Mortgage Websites and Phone Contacts Universal American Mortgage Website: https://www.uamc.com/locator/ContactInfo Universal American [...]

Mortgage par rate means that rate does not cost you nor does it create any money. Also, there is no par rate that is the same for a mortgage originators. One companies par rate can be different than others because they have different wholesale sources. Mortgage Par Rate Definition Par rate is a rate that [...]

I got this question from a reader… “Am I understanding that when an owner loses his house in foreclosure and the auction takes place, he can actually purchase his own home back at a cheaper cost? In other words, can he bid on his own home?” Let’s discuss the last question first, “Can the owner [...]

Credit repair scams have always been here, but in a weak economy scams of all types seem to get worse. Don’t fall for the most recent credit repair scams. Learn our tips on how to spot unscrupulous credit repair companies. Credit Repair Scam Red Flags Here are a few red flags that can warn you [...]

According to a study published yesterday by the OCC, defaulting mortgages lucky enough to get modified are going back into default within six months 53 percent of the time. This is a shocking statistic to me as well as to the Comptroller of the Currency, John C. Dugan. Mr. Dugan in the press release said, [...]

Here is the question… “Before closing on property I was selling for $519,000, the buyer requested that I increase the purchase price to $600,000 & give $36,000 in seller concessions because they were having some cash flow issues. Subsequently, they got a mortgage for $592,000. Since the increased purchase price was less than the appraised [...]