Michael Richardson's Blog

  American Banker (03/18/09) P. 11To compete with subprime lenders, HUD several years ago boosted the maximum loan-to-value ratio for FHA cash-out refinancings on one- to four-family properties to 95 percent. However, higher default rates and home-price declines have prompted the agency to lower ...

  Bloomberg (03/19/09) Louis, BrianThe Federal Reserve has committed to purchase up to $300 billion in Treasuries and, now, an additional $750 billion in agency mortgage-backed securities, bringing its bond purchase commitment to $1.25 trillion. Officials released a statement following their poli...

MARI: Mortgage Fraud Up Record 26% in 2008 LAS VEGAS-- Reported incidents of mortgage fraud increased by 26 percent in 2008 to unprecedented levels, the Mortgage Asset Research Institute said yesterday in its annual report to the Mortgage Bankers Association. MARI's 11th Periodic Mortgage Fraud C...

1. Obama's plan appears to provide no relief for any homeowner whose mortgage exceeds the total value of his home. 2. About 20 percent of America's home mortgages are now worth more than the property they finance. 3. Obama rush to the aid of those who have been hurt in this bad economy, but exemp...

FORENSIC MORTGAGE LOAN AUDITS What is a forensic mortgage audit? A Forensic Mortgage Audit is the comprehensive review of all loan documentation including legal documents, transactional data, and other evidence pertaining to your real estate loan that has been funded. A forensic mortgage audit id...

Homeowners need to be Proactive In Handling Your Mortgage Problems! The first step you can take to stop foreclosure on your home is to avoid giving the bank any reason to believe it will not have its debt repaid!   Homeowners will often avoid notices from their lenders after they have missed a p...

Where are the honest ethical Real Estate and Mortgage professionals? When are the good, honest hard working professionals going to stand up and help put an end to these terrible crimes that fraudsters commit to steal homes from families. I am an industry veteran that is a victim of mortgage fraud...

To whom it may concern, which it should concern anyone in the Real Estate Industry!!!Please help me with this family!!!! This is how real estate fraud can affect hard working honest homeowners.Hi Michael -  Thank you for your response.  Things are not going well at all.  I will try to copy the le...

"The average homeowner does not know that 7500-10,000 new loan applications every business day has some type of mortgage fraud involved.http://www.preventmortgagefraud.com/ most frequent web site questions is: "What can I do to protect myself from being a victim of mortgage fraud at the closing?"...

I have been in business for almost 26 years, and a successful person until as a business owner became a victim of mortgage fraud, I owned a mortgage company and real estate company and I lost my companies over this issue and the fraudsters are still out there working the system. As you might imag...