PennyMac’s quarter to remember
With mortgage rates at record lows and the homebuying and refinancing markets booming, PennyMac Financial Services, a Westlake Village mortgage lender, and its real estate investment trust both reported strong financial results on Aug. 6. PennyMac Financial Services announced a net income of $352.7 million for the second quarter of 2020, or $4.39 per share, Read More →
Eight arrested at Oxnard firm on mortgage fraud charges
Eight people were arrested this morning on suspicion of carrying out a mortgage fraud scheme of filing bogus loan applications that generated hefty fees and commissions for the suspects while causing $11 million in losses for lenders when the homes went into foreclosure. The Ventura County District Attorney’s office began the investigation into Oxnard-based New Read More →
Mozilo will pay $67.5 million to settle fraud case
Angelo Mozilo, the founder and former CEO of Countrywide Financial, will pay $67.5 million to settle civil charges brought by the U.S. Securities and Exchange Commission, the largest such settlement in SEC history, the agency said. In a settlement approved in federal court on Oct. 15, Mozilo agreed to pay $22.5 million in penalties and Read More →
