Some borrowers, will now consider disability as fixed income for our wounded warriors.  Their
income can be grossed up 123%.  All of these fixed income borrowers would
have to go full doc and the LTV would vary from credit score to credit
score.

Wooran's Warriors is a military-affiliated association that is assisting our warriors when they return from the battlefield.  Many of these men and women are permanently disabled and want to purchase a home together by combining their income. 

Some of these veterans are discharged and waiting placement for permanent residence and some are still active-duty military status.   Insofar as credit scores are concerned, I'm sure that we will have a mixed box of scores.

Jamie Sharpe/Loan Officer
Transcontinental Lending Group
8631 Wilmington Hwy 
Holly Ridge, NC 28445
910-329-4477 office 
910-329-4447 fax
910-478-8810 cell
jsharpe8810@charter.net

Fraud is defined as a "knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment." Black's Law Dictionary 685 (8th ed. 2005). While fraud is usually a tort, and therefore a civil cause of action, when the conduct is willful, there may be criminal prosecution. Id. Mortgage fraud, therefore, while it has no official definition in Black's, can be defined as committing some sort fraudulent activity in conjunction with the mortgage process. Sometimes, when a person is investigated for an attempt to defraud, which is defined as "caus[ing] injury or loss to (a person) by deceit," id. at 456, there may be no actual loss or injury to another person during the investigation. This is one of the hardest things for a person who is being investigated to comprehend. Therefore, it is essential that people involved in any way in the real estate industry understand how the FBI investigates and classifies mortgage fraud and what has and has not been deemed to be fraud.  Read More

In a brick, two-story barracks at Camp Lejeune, North Carolina, Marine Corps Sgt. Jason Simms maneuvers a long hallway armed with a thin, black cane. The 28-year-old Marine, seriously wounded in Iraq in 2004, is recovering from his 18th surgery in less than three years. Simms is one of 80 Marines at Camp Lejeune's Wounded Warrior barracks, a renovated barracks for Marines injured in combat.

The barracks opened in late 2005 to give wounded Marines much-needed help in two critical areas: navigating the complicated world of outpatient care, and recovering with others who have been through similar ordeals. WORLD's Jamie Dean reports on the results of this innovative wartime medical project whose premise one gunnery sergeant summed up this way: "The people best prepared to take care of Marines are Marines."

New Partnership to Combat Mortgage FraudEquity skimming. Property flipping. Straw buyers. Inflated appraisals. These are some of the fraud schemes criminals are using to take advantage of a $2.37 trillion mortgage market in the United States. 

To fight this growing scourge, we announced a partnership on March 8 with the Mortgage Bankers Association, which represents an industry hit by fraud costs last year of between $946 million and $4.2 billion.  Read More

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