Broker Loses License for Lying to Lenders

[Veronica Corningstone]

Citi Group Financial Mortgage Corp. "violated provisions of the Georgia residential Mortgage Act" and was cited by the Georgia Department of Banking and Finance "for making numerous misrepresentations in loan files submitted to mortgage lenders and for withholding information ... from examiners," according to a statement issued by the state. Regulators made note that Citi Group Financial Mortgage is not affiliated in any way with Citigroup -- parent to mortgage giants CitiMortgage and CitiFinancial.

Link To Original Article

[Greg]

Hmm this reminds me of 1 of Secrets posts about cheating lenders.

[Erik]

Indeed it does, Greg. Secret's clairvoyance is beginning to shine through

[The Wizard]

I believe I read somewhere that Georgia is the state with the highest amount of fraud loans in the entire US. Maybe that was for 2004 and some other state beat them for 2005....like that is a title any state wants.