A National City Mortgage loan officer is accused of helping a Florida builder deceive borrowers into buying properties even though he knew they were bad investments. Lawsuits have been filed on behalf of 20 of the borrowers. "At all times material hereto, National City knew that the appraisals were overstated and that excessive fees an costs were being extracted," the lawsuit alleges.
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Welcome to Mortgage-Lending-News.Com. The United States Mortgage Industry is at a crossroads. Hundreds of billions in loans and real estate valuations have been lost due to the sub-prime mortgage crisis. Even worse, billions more are at risk during the first half of 2008, as even more adjustable rate mortgages reset their rates. Hardly a day goes by that we don't hear of a foreclosure crisis in the news. Quite simply, there is too much news for us to keep up with, so we built this Mortgage site, initially as a means for us to internally follow what is going on in the mortgage industry. Now, we are sharing it with you.
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