The former exec, nabbed Thursday in Florida, allegedly scammed millions from warehouse lenders
The nationwide appraisal management company announced the appointment of John Fraas as its president
A mortgage that allows for the possibility of negative amortization usually attracts buyers through the fact that they include the option of making lower payments – sometimes when desired. Whenever a payment is made that is less than the amount of interest due for the month, the interest becomes added to the principal – which will ultimately raise the amount of interest each month. This causes negative amortization.