State Law Changes on Licensing, Advertising, Foreclosures, Attorney's Fees, Etc.

Posted To: Pipeline Press

Regions, BB&T, Chase, Wells Fargo… the list goes on. They aren't the first, and won't be the last, but the Department of Justice tells us that Salt Lake City's, "Primary Residential Mortgage Inc. and SecurityNational Mortgage Co. have agreed to pay $5 million and $4.25 million, respectively, to resolve allegations they violated the law by underwriting government-backed mortgages that did not meet requirements." PRMI spread the word that, "PRMI does not admit liability in its agreement with the Department of Justice. PRMI fully cooperated with the inquiry and has agreed to a $5,000,000 settlement, in order to avoid the expense, uncertainty and inconvenience of litigation. This settlement does not affect PRMI's HUD approved mortgage status...(read more)

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from Mortgage News Daily http://ift.tt/2cPPSt7