| LION Announces Resignation of Chairman and CEO
SEATTLE--(BUSINESS WIRE)--LION, Inc. (OTCBB: LINN), a leading provider of online lead generation and advanced business solutions that streamline the mortgage fulfillment process, today announced it has filed its 2006 Form 10-KSB with the SEC. The Company has also reported that its Chairman and Chief Executive Officer, Randall D. Miles, has resigned effective April 1, 2007. Mr. Miles had served in these roles since December 2003. Mr. Miles will remain an advisor to the Company to ensure a smooth transition. John A. McMillan has been elected Chairman of the Board and Dave Stedman, the Company's President, will assume the role of interim CEO while a search is conducted for Mr. Miles' permanent replacement. Mr. Stedman formerly served as CEO of LION from August 2002 to December 2003. "I would like to thank Randy for his service to LION and the contributions he made to the Company and its direction over the last 3 years," stated John A.
Option One sued by workers
Loan officers at Option One Mortgage Corp. in Irvine are suing the subprime lender and its parent company, H&R Block Mortgage Corp., for allegedly using unfair business practices to avoid paying overtime wages. Melissa Schueler, a loan officer, is named on the complaint filed last week in U.S. District Court in Santa Ana, seeking unpaid overtime wages, damages and penalties. Goldstein Demchak, an Oakland law firm, is seeking class action status to cover an estimated 200 loan officers who could have been affected over the past four years. The loan officers were classified as hourly workers, which makes them eligible for overtime premiums when they work more than 40 hours a week in California. They also earned bonuses for selling loans. The case states that company policy was to pay overtime wages if the extra hours were approved.
Non Comforming Loan Comparison: Adjustable Rate Mortgage Versus ...
Are all mortgage loans the same? Or can making a choice between one particular type of mortgage get you in trouble if you aren't careful. In the case of an adjustable rate mortgage versus a fixed rate mortgage it is true that all mortgages are not alike. Of course in many cases the type of loan you can secure has to do with how good or bad your credit has been over the years. Your FICO score will often determine the loan you will be offered. Basically, FICO is an acronym for Fair Isaac Corporation and refers to your best-known credit score calculated by using a specific mathematical formula. GMAC takes the FICO score into account and also explains the difference between a fixed rate mortgage and adjustable rate mortgage, depending on which loan you might be eligible for, “Most mortgage loans have either a fixed interest rate or an adjustable interest rate.
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