Option One Mortgage Corp

WEI Mortgage Corporation Helps Consumers Save on Mortgage Interest by ...

With mortgage interest to a historically low level, everyone wants to refinance at a lower rate. For consumers who are eligible, it may be the perfect time to consider a new mortgage option. The plan customized mortgage, the term is not reset to 30, 20 or 15 year term, it will refinance the remaining term of the mortgage with lower interest rates, which saves even more the traditional channel to refinance.

Rockville, MD (PRWEB) July 26, 2011

WEI Mortgage Corporation (WEI) is pleased to announce the creation of custom term mortgages that are tailored for each borrower's unique needs. This is an unique option for qualified borrowers that have already paid a significant number of years on their existing mortgage and allows the borrowers to refinance into a lower interest rate without unnecessarily adding additional term.

For example, if a borrower has a 30-year mortgage fixed rate and he paid for eight years, the IFE is able to help the borrower to take advantage of the current environment of low interest rates and refinance the remaining 22 years to an extent long-term mortgage 22 years. This customization option positions the borrower to pay the mortgage in the new along with the original mortgage.

"This is especially useful for borrowers who do not wish to go beyond the initial period of their mortgage. With a custom mortgage , borrowers who refinance can pay off their mortgage under the terms equals to their original mortgage while reducing the total interests paid,” says Wesley Yuan, president of WEI. “There is no one solution that fits all needs. We are glad to create a custom option for each borrower as unique as their financial situations may be.

Special Foreclosure Fraud Report: Banksters Still Robo-Signing

NEW YORK / Immokalee, Florida (Reuters) - Lenders leading America promised in March to end of predation doubtful that caused a scandal last year's bruising.

But a Reuters survey finds that many are still taking the same shortcuts they promised to flee from summary documents using "robo-signatory."

In an effort to seize the ranch house with two rooms of 87 years, Margery Gunter in this low-sur-la-chance in Florida City, OneWest Bank recently filed a court document that is riddled with contradictions. Mrs.Gunter, who lived in the house for 40 years and now moves with the help of a walker, has stopped paying the loan back in 2009, his lawyer conceded. In foreclosure, the bank presented the Clerk of Collier County on March 3, a "Trust Mortgage", an essential document to prove who owns a mortgage once the original lender sells it off.

But OneWest paperwork is problematic. Among the snags: State law allows lenders to files to be excluded only if they have already legally own a mortgage. Yet the key document establishing ownership wasn’t signed and officially recorded until months after OneWest filed to foreclose on Mrs. Gunter. OneWest declined to comment on the case.

Reuters has found that some of the biggest U.S. banks and other “loan servicers” continue to file questionable foreclosure documents with courts and county clerks. They are using tactics that late last year triggered an outcry, multiple investigations and temporary moratoriums on foreclosures.

In recent months, servicers have filed thousands of documents that appear to have been fabricated or improperly altered, or have sworn to false facts.

Reuters also identified at least six “robo-signers,” individuals who in recent months have each signed thousands of mortgage assignments — legal documents which pinpoint ownership of a property. These same individuals have been identified — in depositions, court testimony or court rulings — as previously having signed vast numbers of foreclosure documents that they never read or checked.

Among them: Christina Carter, an employee of Ocwen loan servicing West Palm Beach, Florida, a "sub-repairman" that handles routine tasks for mortgage banks. Signature - only two "C" - appeared on thousands of missions and other mortgage documents this year.

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