Commercial mortgages from $2 million to more than $1 billion are being promoted by Arlington Richfield Inc. PB Financial Group Corp. is advertising privately funded loans for California borrowers with FICO scores down to 300, in bankruptcy or in foreclosure. Flagstar Bank has advised mortgage brokers and correspondents that it has closed its third-party construction department. Interthinx announced last week that it offers a 24-hour mortgage broker license monitoring service.
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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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