We have grown from a small mortgage business to become a well-established local & global client funding provider with specialist experience in our core disciplines of both Local & Non – Resident lending across Australia residential property sectors.

New rules and regulations that are in place have fundamentally transformed how loan officers get and maintain licensure, how mortgage applications are taken, how loans are closed and so much more. “We can’t discover the falsity underlying these loan documents and then sit around, waiting for a mortgage awarded based on them to stop performing,” Manhattan Assistant District Attorney Rachel Hochhauser told the jury in her summations.

NEW YORK (Reuters) - Abacus Federal Savings Bank, which caters to the Chinese-American community in New York, New Jersey and Pennsylvania, was found not guilty on Thursday of all charges related to the sale of allegedly fraudulent mortgages to Fannie Mae. Printed in the United States of America. But in Abacus’s closing arguments, Puvalowski called the state’s case “a bizarro prosecution.” The bank has one of the lowest default rates in the country, the attorney said, citing a rate of about 0.3 percent versus a nationwide average of 6.6 percent, 20 times higher. In Abacus: Too Small To Jail, Steve James, who made Hoop Dreams, tells the story of a very small bank that really was prosecuted in the wake of the 2008 financial crisis. When you call or email, one of highly knowledgeable Abacus's team members will help you get started fast.. or Francis might just answer the phone, he may not always be available to speak immediately; however, he loves to provide personalized solutions for each person he talks to and would be happy to spend that time speaking with you. An Alliance to Best Help the Mortgage Training Industry The economy has gone … In addition to providing financing solutions in a traditional mortgage brokerage capacity, Abacus North provides direct loans that range from $2,000,000 to $25,000,000. Abacus Mortgage Training has been helping the mortgage industry since 1999 and actually started as a Mortgage Company in the late 1980’s.At Abacus today, we are still committed to the same standard of excellence the company was built on. Prosecutors claimed the defective loans misrepresented the applicants’ credit, employment, income and source of down payments. Abacus Mortgage Training and Education actually started out as MoneyNet Mortgage Planning Services in the 80s and continued to originate mortgage loans into the late 2000s. We have also recently aligned with NMLS approved education provider Mortgage Education.com (nmls id 1400051) to help bring you the very best training possible and at an extremely affordable price.Mortgage Education was also founded on the same principles of honor and excellence and hence why we are a natural fit to assist you together in your education experience. Abacus Mortgage Training and Education specializes in helping to find the mortgage education that is right for you. Founder Paul Donohue's main focus and philosophy was building "customers for life" through honesty, integrity, and professionalism; helping make the dream of homeownership possible for tens of thousands of families. “Right case, wrong bank,” Abacus attorney Kevin Puvalowski told Reuters after the verdict.

On a syndicated basis we have provided mortgage banking solutions up to $300,000,000.

A day earlier, the jury acquitted the bank of conspiracy and grand larceny charges. We work directly with NMLS education providers and can help you to find the best courses from the best providers in the mortgage industry and make sure you get your training at the lowest price possible. “The unanswered question is why should this small minority bank be singled out for prosecution relating to the financial crisis of 2008,” Thomas Sung, founder and chief executive officer of Abacus, said in a statement after the verdict.

All rights reserved. As such, we seek out only the best NMLS approved providers, that offer top quality content, at a specially negotiated prices. During this time, Paul and his team at Abacus were also committed to delivering ground breaking mortgage training and education across the country to tens of thousands of individuals and companies large and small, as an NMLS approved education provider. Abacus is believed to be the only bank to face a criminal trial in the United States on charges of mortgage fraud in the run-up to the 2008 financial crisis. That we will always find you the best courses, from the best providers, at the best price. The jury also found two executives at the bank not guilty of charges against them on Wednesday.