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Ex-NFL player's mortgage company adding 650 jobs

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Mortgage Professional America | 16 Jan 2015, 08:51 AM Agree 0
A mortgage company co-owned by a former Carolina Panthers player has expanded quickly since its inception a few years ago and now it has its eyes set on becoming No.1.
  • | | 17 Jan 2015, 03:36 PM Agree 0
    Umm... they also violate RESPA by signing MSAs for $10,000/mo for desk rentals that might be worth $500/mo... you don't experience that sort of growth without clearing violating laws...
  • | | 01 Mar 2015, 07:30 AM Agree 0
    Exactly, this company violates RESPA everyday and the CFPB has confirmed it with their consent order in September against another unethical settlement provider stating, "Entering a contract is a ‘thing of value’ within the meaning of Section 8, even if the fees paid under that contract are fair market value for the goods or services provided. [Accordingly,] [e]ntering a contract with the agreement or understanding that in exchange the counterparty will refer settlement services related to federally related mortgage mortgages violates Section 8(a).”
    Another unethical lender using consumers as targets for kickbacks to Real Estate agents/brokers. Hopefully the CFPB will act.
  • | | 13 Oct 2015, 11:57 AM Agree 0
    Using the movie The Untouchables as a metaphor, Movement Mortgage is the Al Capone of MSA's. Doing it right in front of everyone and right out in the open. They even tell their mortgage officers that the CFPB has blessed their MSA's. What a joke.
  • | | 13 Oct 2015, 12:04 PM Agree 0
    #CFPB #RichardCordray #movementmortgage
  • | | 13 Oct 2015, 12:12 PM Agree 0
    When is the CFPB going to open their eyes? MM proudly states in public forums that their MSA's get their mortgage officers in front of real estate agents.
  • | | 18 Dec 2015, 01:26 PM Agree 0
    They'll just throw the realtors to the wolves by claiming they (Movement Mortgage) did their part. We all know that every agent that signs an MSA with Movement cannot possibly be compliant or get third party verification's. Realtors beware especially Keller Williams agents who seem to be getting all of the MSA's with Movement.
  • | | 16 Jun 2016, 09:44 PM Agree 0
    If you would like to compete with movement mortgage it would be as easy as clearing your mortgages to close in 7 days. If you can't clear your mortgages to close in 7 days all you can do is complain. Realtors are going to use the company that can clear their mortgage to close in 7 days whether they are in their office or India. If quicken could clear to close in 7 days then realtors would use quicken. Quicken has to charge higher rates and fees because they need to cover the expense of owning Google. It would not matter where they were or where the advertised as soon as the realtors find out someone is clearing deals to close in 7 days that's the end of it. One day if the agreements end you are still not going to get that business because your service sucks and then what are going to complain about? Maybe instead of complaining g you should do a better job helping home buyers get into houses.
  • | | 13 Sep 2016, 11:42 AM Agree 0
    Movement's rates are awful, clearly pushing the cost of overpriced MSA's on the client. Any realtor that pushes Movement Mortgage on their client should be ashamed. This is clearly a “you scratch my back, I’ll scratch your back” agreement. The losers in the whole transaction are the borrowers who are floating the tab by accepting much higher rates than average market.
  • Weis1682 | | 15 Sep 2016, 10:28 AM Agree 0
    I've often wondered how they are able to close mortgages so quickly... it takes longer than 7 days to get tax transcripts and appraisal half the time. They have to be ordering appraisals as rushes and passing the cost onto the customer. But they're growing super fast, so what do I know? Maybe that's the model of the future... Seems like everybody is buying Realtors these days, nothing new.
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