It’s not at all uncommon for mortgage rates to experience microscopic movement in either direction on any given day. In fact, it’s probably the most common eventuality over time. In that sense, today was unremarkable with the average lender moving just a hair lower versus yesterday’s latest levels. But in another sense, it’s very good […]

Former top producer Christopher J. Gallo has pleaded guilty to a federal fraud charge for allegedly falsifying loan documents during the recent market heyday.  Processing Content Gallo pleaded guilty to a single count of conspiracy to commit bank fraud in a hearing before a New Jersey federal judge Wednesday. By pleading guilty, federal prosecutors have

Morgan Stanley says it has received no proof of an alleged complaint that it pressured employees to approve certain mortgages as reported in a Wall Street Journal article that cited anonymous sources. Processing Content In an email sent in response to inquiries from this publication, Morgan Stanley confirmed statements skeptical of the alleged whistleblower complaint.