An Internet Mortgage Provider Reaps the Rewards of Lending Boldly
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An Internet Mortgage Provider Reaps the Rewards of Lending Boldly Internet Mortgage Provider Reaps Rewards of Lending Boldly Bank of Internet, which has extended big loans to high-earning people other lenders might shun, has been turning heads, and setting off alarm bells.You have substantial assets, but your income is erratic and your finances are what in polite company would.
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Now that much of the mortgage industry involves little more than churning out government-backed cookie-cutter loans, Bank of Internet is an intriguing reminder of the money that can be made when a bank dares to take a chance on borrowers and then keeps those loans on its books.
Here’s the first article on BOFI by the NYT: An Internet Mortgage Provider Reaps the Rewards of Lending Boldly Then this week, again in the NYT , a former auditor is suing the bank. The auditor said he was fired after revealing what he believed to be wrongdoing at the bank to federal regulators and management at Bank of Internet.
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