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Homeowners across the U.S. are being targeted in a sophisticated scam in which callers pose as mortgage lenders to defraud people out of hundreds of thousands of dollars, the Federal ...
Amazon will also never ask you to buy gift cards to resolve an account issue, and it certainly won’t insist that you send Bitcoin. Unfortunately, scams involving crypto are all too common.
“An Amazon email scam can look exactly like a real Amazon email, or can be poorly crafted, and everything in between,” according to Alex Hamerstone, a director with the security-consulting ...
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as ...
The non-profit organization Student Debt Crisis along with Summer, a social impact startup that helps student debt holders published a national survey in 2018 that found 59% of respondents were prevented from making large purchases, 56% from buying a home, and 42% from buying a car. 58% reported that their credit scores had declined due to the ...
Loan origination is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application up to disbursal of funds (or declining the application). For mortgages, there is a specific mortgage origination process.
This is an example of what a local official says is a scam letter trying to convince people to buy a home warranty. Personal information from the homeowner, which was included in the letter, has ...
In the U.S., the process by which a mortgage is secured by a borrower is called origination. This involves the borrower submitting a loan application and documentation related to his/her financial history and/or credit history to the underwriter, which is typically a bank. Sometimes, a third party is involved, such as a mortgage broker.