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:
Town, County Lose Appeals Against GSEs
9/1/2014 6:09 AM
A federal appeals judge ruled in favor of the government-sponsored enterprises in separate lawsuits filed by municipalities in two different states.....The ruling came Wednesday out of the U.S. Court of Appeals for the First Circuit in cases filed by the town of Johnston, R.I., and Bristol County, Mass.....Johnston and Bristol County fi...Read More
Wells Fargo Mortgage Files Stolen
9/1/2014 6:09 AM
More than a thousand customer files stolen from a dozen Wells Fargo Home Mortgage offices were used to rip off the identities of Wells Fargo clients.....A ring of criminals conspired to take the files from 12 Wells Fargo offices. In all, 1,800 mortgage customer files were taken.....Then, in 2012 and 2013, the group went on a multi-state...Read More
BofA Says GSEs Knew What They Were Buying<
9/1/2014 6:09 AM
Bank of America Corp. says the government sponsored enterprises knew what they were getting from Countrywide Financial Corp. and wants a jury verdict that left it with a huge penalty thrown out.....A federal judge in Manhattan last month imposed a $1.3 billion penalty on BofA after a jury determined that fraud had been involved in the sale of...Read More
Portfolio Lender Formed From Acquisition
9/1/2014 6:09 AM
An acquisition by a Michigan financial institution provided a foundation for the creation of a portfolio lender that will invest in non-agency mortgages.....Lathrup Village, Mich.-based Michigan First Credit Union announced that it completed the acquisition of Watson Group Financial this past January.....Since it finished the purchase p...Read More
FHA Business Leads Drop in Mortgage Activity
9/1/2014 6:09 AM
An improvement in interest rates was overcome by the holiday effect, and new mortgage business slowed. Government-insured activity tumbled the most.....A 9 percent decline from seven days earlier left the U.S. Mortgage Market Index from LoanSifter/Optimal Blue and Mortgage Daily for the week ended Aug. 29 at 157.....Activi...Read More