How did America’s ‘Top Residential Lender’ become the #1 VA Lender & #1 FHA Lender?
Originally Posted In 2022:
The obvious exploitation of VA Home loan programs and gaps in laws has positioned Freedom Mortgage Corporation to prey on veterans with rising interest rates that could push many of the over 500,000veterans’ families that have become entangled with Freedom Mortgage Corporation’s unsettling practices over the past eight years. This will work to constantly pressure into foreclosure with the shocking interest payment increases.
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In 2021, Freedom Mortgage Corporation captured over 23% of the VA IRRRL market out of 1224 eligible lenders IN the market.
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Our analysis of available data from the VA has highlighted serious points ofconcern. There was an apparent company-wide business initiative implemented by this massive mortgage lender to exploit programs that are meant to help veterans. Yes, they ARE stealing from VETERANS!
Often called a “streamline” refinance, the IRRRL mortgages appear to have been exploited by Freedom Mortgage Corporation as one piece of a two-part (possibly more) plan to potentially defraud hundreds of thousands of US veteran homeowners.
The loan data below shows the VA IRRRL (Interest Rate Reduction Refinance loans) that were guaranteed by Freedom mortgage corporationOVER a SEVEN YEar period
