As found on a popular blog topic, “What’s Up With First Magnus” at the Mortgage Lender Implode-O-Meter, mortgage insiders write about First Magnus: “I know they are very loosey goosey on their underwriting criteria, and the basic word on the street
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Since First Magnus is a privately held corporation, it may be outside of the radar screen of Jim Cramer and Wall Street analysts since investors can’t publicly buy their stock.
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I got an email about First Magnus from a friend yesterday. She has been reading about all the posts, blogs and lawsuits that involve First Magnus and really couldn’t believe how many lawsuits were filed against them. When you combine that with loose credit standards in lending…hmmm…an interesting story.
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