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Smart Rate, Michael Strauss no longer authorized to do business in Illinois

Housing Wire

Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). While the decision was under appeal, Strauss was brokering loans. 3, indicating a voluntary surrender.

Business 437
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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. The nascent mortgage company, however, has only one loan officer registered and no loan origination volume so far, according to the mortgage tech platform Modex.

Mortgage 395
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Homebuyer snags $1.4 million seed funding for first-time homebuyers

Housing Wire

million in a seed round from private investors. An ex-software engineer, Green is also a former loan officer and founder of The Mortgage Reports, a mortgage education website that was eventually acquired by Full Beaker. In particular, Homebuyer was selected for the 2020 class of Techstars Austin in December 2019. .

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Loan America sues Sprout for allegedly failing to purchase loans

Housing Wire

Loan America, a full-service mortgage company, relies on warehouse loans or lines of credit for loan funding, similar to many other non-QM lenders. Typically, the company does not hold such loans for more than two weeks, instead selling them to a group of investors – including Sprout Mortgage.

Insurance 427
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Virtual notary adoption surges as businesses rush to close transactions remotely

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. insurance companies, including home and auto providers. Register for the FinLedger Daily Newsletter.

Business 487
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Everything You Need to Know about the Mortgage Approval Process

Eppraisal

While applicants can feel uneasy about a bank looking so closely at their financial lives, they can nonetheless take comfort from the fact that the lender's thoroughness enables it to make loans in the first place. Assembling and confirming the validity of these documents is the job of a loan processor.

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How to Buy a Rental Property: Get Tips from the Experts

PennyMac

For example, typical annual costs include things like: Insurance. Sepehr Niakan, a licensed real estate broker at HB Roswell Realty and founder of CondoBlackBook , has sold hundreds of bank-owned properties in Miami and is an avid real estate investor. Property taxes. Maintenance costs. Mortgage payments. Invest for the long haul.