An Internet Mortgage Provider Reaps the Rewards of Lending Boldly

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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.

An Internet Mortgage Provider Reaps the Rewards of Lending Boldly Bank of Internet’s loans have increased fivefold, to nearly $5 billion, over the last five years – an almost unheard-of rate of growth for these tepid times in banking. Its losses from bad loans are practically nonexistent, and profits are surging, in part because it charges a much higher interest rate than the bigger banks operating in the same market.

Approximately 72.2% of the company’s loans are secured by properties in California, 9.47% are secured by properties in New York, and 5.11% are secured by properties in Florida.

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– Plaintiffs claim that Defendants made false or misleading 17 statements on two subjects – the company’s loans to criminals and governmental 18 investigations into BofI. 19 2. 20 On August 22, 2015, the New York Times ran a pre-Class Period article about BofI 21 entitled, "An Internet Mortgage Provider Reaps the Rewards of Lending Boldly."

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An Internet Mortgage Provider Reaps the Rewards of Lending Boldly First American Financial is a leading provider of title insurance and settlement services to the real estate and mortgage industries in the U.S. The company beat estimates in all the trailing four.