raman kandola's (kandolamortgage) Blog

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Mortgage and Lending - kandola mortgage services

ARCHIVED BLOG POSTS

2007 

Another mortgage scam too close to home!Check out this link regarding a 1.2 million dollar mortgage scam right in my own neighborhood.http://www.nctimes.com/articles/2007/01/14/news/californian/23_08_351_13_07.txtI am surprised this has not made national news to the best of my knowledge. Have any...
01/28/2007
I seriously got my RE Sales License and learned about a very well-kept SECRET that all MORTGAGE BROKThis is how this amazing RE Sales INSIDE SECRET was revealed to me by a fellow RE Sales person:My first deal as a RE Agent was starting to go bad because the borrower wasn't able to get financing. ...
01/28/2007
5S is the acronym for five Japanese words, seiri, seiton, seiso, seiketsu and shitsuke, which signify order, cleanliness, purity and commitment. The 5S philosophy focusses on effective workplace organisation, helps simplify the workplace environment and reduce waste, while improving quality and s...
01/25/2007
News, first reported by Asset Securitization Report, indicates that J.P. Morgan Securities is shopping Ameriquest, one of the largest sub-prime mortgage lenders in the U.S., to various bond hedge funds.  Ameriquest's bankers have supposedly approached several buyers recently to gauge interest in ...
01/24/2007
OK... mortgage fraud. The FBI's typical case involves so-called "fraud for profit," which happens when criminals seek to make off with the funds from a loan. Criminals will buy a house, often using a stolen identity, from a legitimate seller, then immediately put the house up for sale. Others in ...
01/24/2007
ABN AMRO announced that it is selling ABN AMRO Mortgage Group, its US-based Residential Mortgage Broker Origination platform and servicing business (which includes AAMG, InterFirst and Mortgage.com), to Citigroup.  Citigroup will purchase approximately $9 billion in net assets, of which approxima...
01/24/2007
Why is the person who invests your money called a "broker"? Wells Fargo led the pack in retail originations last year with roughly $160 billion for 2006. They were followed by Countrywide, BofA, WAMU, and Chase in the top 5. Also on the list were Golden West, Quicken, USAA, and First Magnus (#20 ...
01/24/2007
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 Sebring, Ownit, Mortgage Lending Network, Banco Popular. Secured Funding of California has closed its wholesale division, 33% of their production. Based in Southern California, they posted a notice saying that, based on "market conditions," it has "stopped funding new applications, and will have...
01/12/2007
Secured Funding of California has shuttered its wholesale division, which accounts for about one-third of its total production. As MortgageWire neared its deadline, a company official declined to comment. It is the latest in what is turning out to be a long line of nondepositories that have run i...
01/10/2007
 There is some rumored news in the credit report biz. National credit bureaus Equifax and Experian supposedly changed their policy so they expect to be paid every time a lender or a mortgage investor obtains an applicant's credit file as part of the financing process. When a broker originates a l...
01/09/2007
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