Cornerstone Mortgage

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Robert Copeland - Broker

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     Cornerstone Mortgage     1500 Standiford Ave, Suite A1 Modesto, CA  953550

Mortgage News:
OC Man Charged With Warehouse Lending Fraud
10/2/2014 11:27 AM
Charges have been handed down by a federal grand jury against an Orange County, Calif., man who allegedly duped his warehouse lender.....Irvine, Calif.-based Trust One Mortgage Corp. had been actively licensed in several states, some as recently as 2011.....Among the states it held licenses in were Alaska, Arkansas and Nevada. It had al...Read More
Investors Lose First Round in GSE Lawsuits
10/2/2014 11:27 AM
Speculators who picked up shares of Fannie Mae and Freddie Mac in order to sue the government were dealt a blow.....A federal court decided on multiple related lawsuits that named the Department of the Treasury and the Federal Housing Finance Agency as defendants.....The plaintiffs claim that it was illegal when the Treasury Department ...Read More
BofA Board Elects New Chairman
10/2/2014 11:27 AM
Bank of America Corp."s board of directors has elected a new chairman from among the firm"s own executive ranks.....Charles "Chad" O. Holliday Jr. replaced Dr. Walter E. Massey as the chairman of the Charlotte, N.C.-based company in 2010.....Holliday was first elected to the board of directors in 2009. He was chairman and chie...Read More
Fannie Revising 3rd-Party Asset Verification Policy
10/2/2014 11:27 AM
The Federal National Mortgage Association is changing its policy on the utilization of third parties to verify assets.....Sellers of loans to Fannie Mae currently have two ways that deposits can be verified. The same goes for asset accounts.....An obstacle, however, has been that the Washington-based government-controlled enterprise has...Read More
Drop in Industrial Property Loan Lates Lead CMBS
10/2/2014 11:27 AM
Performance on industrial property loans was more improved last month than on any other type of securitized commercial real estate loan.....Loans included in commercial mortgage-backed securities had an average 30-day delinquency rate that was 7 basis points better in September than in August.....CMBS delinquency tumbled compared to Se...Read More