Posted by MB_AZ on 7/13/07 10:54am
Msg #199735

The reason things are slow in AZ

JMO... Arizona recently passed Mortgage Fraud Legislation. The unscrupulous LO and sub prime lenders are staying away from the AZ market. The mail used to be flooded with ads from mtg lenders and daily phone calls. But, that has all but stopped since June.
http://www.azcentral.com/arizonarepublic/local/articles/0612mortgage-fraud0612.html

Reply by Joan_OH on 7/13/07 11:12am
Msg #199738

New Legislation in Ohio too.

It has definitely had an impact here.

Joan-OH

Reply by John_NorCal on 7/13/07 12:09pm
Msg #199759

I see that Ameriquest has been sanctioned

for charging excessive loan fees, unfair loan practices, not advising customers of true loan terms, etc, etc. A lot of people will be getting refunds. The sub prime market has really taken a dive!

Reply by Stamper_WI on 7/13/07 1:32pm
Msg #199772

When you shake the tree

The rotton fruit falls first

Reply by Melodie Rice on 7/13/07 4:23pm
Msg #199810

Re: I see that Ameriquest has been sanctioned

Ameriquest should get a good spanking.....Thbey have been needing it for years and years

Reply by Ndwa on 7/13/07 3:15pm
Msg #199785

That explain why I have three title co. all of the sudden dropped their fee in the last couple months. One company told me that the "new" fee they recently filed with the state.