Tag: mortgage banks

Jumbo home-loan originations near pre-2008 crisis levels

U.S. home prices haven’t been the only thing skyrocketing during the pandemic. Originations of large “jumbo” U.S. residential mortgage loans that exceed “conforming limits” set for housing giants Freddie Mac and Fannie Mae could hit $550 billion this year, a level not seen since the run-up to the 2008 financial crisis, BofA researchers wrote Monday, […]

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Mortgage broker pleads guilty to stealing nearly $5 million in refinancing loans, using money to buy watches and jewelry

A disbarred lawyer-turned mortgage broker has pleaded guilty to stealing nearly $5 million in refinancing loans, using it to buy dozens of watches and piles of jewelry, instead of paying off his clients’ original mortgages.  Brent Kaufman, 50, of Commack, N.Y., admitted that on numerous occasions between 2016 and 2019, he listed his own bank […]

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As mortgage rates hover near historic lows, will Americans be able to take advantage of the savings?

Mortgage rates resisted the temptation to move upward after hitting the highest level in months a week ago. But research suggests that many households won’t manage to take advantage of the potential savings the low-rate environment represents. The 30-year fixed-rate mortgage averaged 2.86% for the week ending Aug. 19, down one basis point from the […]

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