How to Detect a Dishonest Mortgage Loan Officer

Some Red Flags for Doctors and Others to Consider

From Infographics Archive

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By creditsesame.com

Mortgage loan officers with questionable ethical standards profited sweetly during the go-go years of the real estate boom, mostly by pushing risky loans to borrowers who didn’t necessarily have what it took to qualify for one the honest way.

The Red Flags

Now, thanks to new legislation and regulations, predatory loan officers are all but out of business. But. that doesn’t necessarily mean you should trust your lender wholeheartedly.

Here are some of the red flags that your loan officer may not be completely honest with you — along with signs that they do have your best interest at heart.

Assessment

Link: http://www.infographicsarchive.com/economics/how-to-detect-a-dishonest-mortgage-loan-officer/

Conclusion

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7 Responses

  1. Vote for New Mortgage Disclosure Form Design

    The new Consumer Finance Protection Bureau is asking the public to vote on two draft designs for the mortgage disclosure form.

    The goal is to make it easier for the borrower to understand the loan terms. They call it “Know What You Owe.”

    http://thefinancebuff.com/vote-for-new-mortgage-disclosure-form-design.html

    Ann Miller RN MHA

    Like

  2. Sharp rise in foreclosures as banks move in harshly

    Increase signals banks are moving more aggressively against borrowers who have fallen behind on mortgage payments … doctors beware!

    http://www.msnbc.msn.com/id/44885991/ns=business-real_estate

    Jillian

    Like

  3. More US mortgages ‘underwater’

    Yep, the number of American homeowners with negative equity is up to 28.6%, but foreclosures are down, according to Zillow.

    http://money.msn.com/home-loans/article.aspx?post=d72f067f-5e31-4912-b2a3-567806c02725

    Home prices down in three-fourths of U.S. markets

    Third-quarter data shows sales up in all 50 states, but prices continued to fall in most areas. Distressed sales are still a big part of the market.

    http://realestate.msn.com/blogs/listedblogpost.aspx?post=7c5b21fd-fbab-4b3d-bf89-ce77982393ef&from=en-us_msnhp

    Howard

    Like

  4. Proposed mortgage settlement offers little relief for homeowners

    A proposed $25 billion settlement between five big banks, state attorneys general and the Obama administration may help resolve some of the thornier legal issues surrounding the mortgage mess that caused the housing market to collapse.

    But, it will do relatively little to stop the ongoing wave of home foreclosures or revive the deeply depressed housing market.

    http://bottomline.msnbc.msn.com/_news/2012/01/24/10226930-proposed-mortgage-settlement-offers-little-relief-for-homeowners

    Lewis

    Like

  5. Banks square in mortgage fraud crosshairs again

    In the Wild West of the ongoing mortgage mess, there’s a new sheriff in town. And, he’s not handing “Get Out of Jail Free” cards in return for a $25 billion check.

    The appointment of New York Attorney General Eric Schneiderman to head a special task force that will investigate mortgage fraud marks a turning point in a year-long effort to resolve a wave of legal challenges to abusive and illegal foreclosure practices.

    http://bottomline.msnbc.msn.com/_news/2012/01/26/10244290-banks-square-in-mortgage-fraud-crosshairs-again

    Any thoughts?

    Ted

    Like

  6. Did BoA Lie?

    Former Bank of America employees gave sworn statements that the bank lied to homeowners, denied loan modifications for bogus reasons and rewarded employees for sending homeowners into foreclosure?

    http://www.propublica.org/article/bank-of-america-lied-to-homeowners-and-rewarded-foreclosures

    Lewis

    Like

  7. Eight Banks to Pay

    Wells Fargo to pay Fannie Mae $541 million in defective home loan case; along with seven others.

    http://www.nbcnews.com/business/wells-fargo-pay-fannie-mae-541-million-defective-home-loan-2D11820141

    Benjamin

    Like

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