The move will create hundreds of new jobs, the company says
Just two years after obtaining $15 million in seed capital, the young company is calling it quits
The Senate Banking Committee held a hearing recently to discuss the Independent Foreclosure Review, the goal of which is to identify borrowers who suffered financial harm because of errors in their foreclosure processing.
When David Zugheri launched Envoy Mortgage 16 years ago, it was only him, his partner, and $8,000. Today the company sells loans in 48 states, employs 1,000 people and stands as a mortgage industry success story.
After the devastating effects of the American housing bubble of the early 21st century, real estate professionals and investors have become very vigilant about a resurgence of greed, graft and unchecked speculation in the housing markets.
Americans have been nervous to get back into commercial investments, and for good reason. The crash hurt more than a few wallets and investors are afraid the growth we’re seeing now is doomed to fail yet again.
A broker in New York has been sentenced to 70 months in prison for falsifying FHA mortgage insurance documents in order to close millions of dollars of loans from 2007 to 2010.
The number of completed foreclosures dropped to 55,000 in March 2013 from 66,000 in March 2012, a 16% drop year-over-year, according to real estate research firm CoreLogic.