News

JPMorgan Chase & Co. has reportedly reached a tentative deal to pay about $13bn to settle claims that it misled Fannie Mae and Freddie Mac about the worthiness of loans it sold them during the lead-up to the financial crisis

A unit of Deutsche Bank AG has agreed to pay $11.5 million to settle a Nevada probe if its role in funding subprime mortgages

Brett Mills stepped outside the world he knew – one driven by numbers, competition and ego – and into a small village in Guatemala. Today, he says the lessons he learned from the welcoming people he encountered there have inspired the balanced way he runs his branch and what he looks for in new employees

Allyson Kreycik has had a good year. She had a baby and became the seventh highest female originator in the country, with $164m in originations in 2012. She jumped ship from a failing mortgage business, joined Guaranteed Rate, a franchised mortgage banking company, and started a new life in Boston.

Jodie V. Tanga was just 22 when she stumbled across an irresistible opportunity to set up her own branch of a friend’s mortgage company in Hawaii. A decade later, she’s her own boss and business is booming. Tanga says the secret to her success is simple: “I work very, very hard and I embrace change”

Two and a half years ago, Michael Mann was fed up. Following a series of personal and professional challenges, he was on the brink of closing his under performing mortgage brokerage and launching a new career. Fortunately, he changed his mind and decided instead to radically change the way he did business. The gamble paid off, and this month Mann’s team is closing 25 loans worth around $5m