Christopher Brooks, a loan officer in Seattle, was sentenced on Friday to 7 years for obtaining $27 million in fraudulent mortgages.
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Jeffrey Allen Herald, 49 of Phoenix Arizona, was indited on October 19th on two counts of fraud and artifices and one count of theft for providing unlicensed legal and mortgage services.
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An increasing number of Washington homeowners’ mortgages are delinquent or in foreclosure, but the state continues to hold up better than the country as a whole, and the gap is widening.
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The state Department of Financial Institutions has fired a warning shot at mortgage brokers, issuing new guidelines intended to rein in risky subprime loans.
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Many Americans are finding themselves unable to make mortgage payments. Those folks generally share common traits:
They’ve borrowed too much, they’ve lost their jobs or they hold an adjustable rate mortgage - and mortgage rates are soaring.
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Nationally, the housing market is cooling off fast.
But that doesn’t mean mortgage loan activity has cooled off in all areas of the country. Case in point: The Pacific Northwest.
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A series of billion-dollar sales involving the Seattle housing market’s tallest tower and other prominent buildings has produced an unexpected windfall of tax money for state and local government.
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Sales of single-family homes in Snohomish County continued to sag a little in April, but the condominium market was stronger last month than ever.
For the second month in a row, a burst of condo sales helped to soften a drop in overall Thurston County, Wash., home sales in April, the Olympian reported Monday.
For the fourth month in a row, the price of King County, Wash., houses has risen, reaching a median $465,000 in April.
That price strength bucks national home price stagnation — and even price drops in numerous cities across the country — making King and nearby Puget Sound counties anomalies.