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HIBBING — Surprisingly, given all the negative national press about home foreclosures and a crisis in the home mortgage industry, now is a “very good time to seek a home mortgage,” according to Bobbi Jo Amic, senior loan officer for the new Apollo Home Mortgage Group office recently opened at 2208 First Ave.
A former mortgage loan officer for three companies in the Dayton area was sentenced to 20 months in federal prison and ordered to pay $171,211 in restitution to the Internal Revenue Service for his role in a mortgage fraud scheme.
The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.