FHA and Ginnie Mae take action against TopDot Mortgage
WASHINGTON, DC - January 25, 2010 - (RealEstateRama) -- The Federal Housing Administration’s Mortgagee Review Board (MRB) today immediately and permanently withdrew the FHA approval of Premium Capital Funding, LLC, a Jericho, New York-based lender doing business as TopDot Mortgage.Full article: FHA and Ginnie Mae take action against TopDot Mortgage ...
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- Local Real Estate Agent and Eight Other Industry Professionals Charged in Massive Mortgage Fraud Scheme That Caused at Least $15 Million in Losses
February 22, 2012 - (RealEstateRama) -- United States Attorney Laura E. Duffy announced the unsealing of an indictment today charging a local real estate agent, Eric Elegado, and eight other mortgage industry professionals—Charmagne Elegado, Theodore...
- Mortgage Applications Decrease in Latest MBA Weekly Survey
WASHINGTON, D.C. - February 22, 2012 - (RealEstateRama) -- Mortgage applications decreased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 17, 2012.
- Mortgage Forgiveness Debt Relief Act Expires Dec 31 2012!
Las Vegas, NV - February 20, 2012 - (RealEstateRama) -- If you’ve been thinking about doing a short sale on your Nevada home, you might want to hurry up. The time is limited for homeowners who want to ensure they aren’t hit with a big tax bill beca...
- VA Participates in Settlement with Mortgage Banks
WASHINGTON, DC - February 17, 2012 - (RealEstateRama) -- The Department of Veterans Affairs announced its participation in the largest state-federal legal settlement in history that deals with problems within the mortgage industry.
- REMN WHOLESALE TO PRESENT FREE VA IRRRL WEBINAR WITH NATIONAL MORTGAGE PROFESSIONAL MAGAZINE ON FEBRUARY 23RD
San Diego, CA - February 16, 2012 - (RealEstateRama) -- REMN Wholesale, a division of Real Estate Mortgage Network, Inc., is pleased to announce their upcoming free Webinar for VA Interest Rate Reduction Refinancing Loans (IRRRL). Taking place on February 23rd, the “Helping Our Veterans While Helping Your Business” Webinar will explain the VA IRRRL opportunities that brokers and originators can make available to military veterans with existing VA mortgages. The Webinar will be produced along with National Mortgage Professional Magazine
- Delinquencies and Foreclosures Decline in Latest MBA Mortgage Delinquency Survey
WASHINGTON, D.C. - February 16, 2012 - (RealEstateRama) -- The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 7.58 percent of all loans outstanding as of the end of the fourth quarter of 2011, a decrease of 41 basis points from the third quarter of 2011, and a decrease of 67 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate decreased five basis points to 8.15 percent this quarter from 8.20 percent last quarter.
- FEDERAL GOVERNMENT SETTLES FRAUD LAWSUIT AGAINST CITIMORTGAGE, INC. FOR RECKLESS MORTGAGE LENDING PRACTICES
WASHINGTON, D.C. - February 16, 2012 - (RealEstateRama) -- Preet Bharara, the United States Attorney for the Southern District of New York, Helen Kanovsky, General Counsel of the U.S. Department of Housing and Urban Development (“HUD”), and David A. Montoya, the Inspector General of HUD, announced today that the United States has filed, and simultaneously settled, a civil fraud lawsuit against CITIMORTGAGE, INC. (“CITIMORTGAGE”), a subsidiary of CITIBANK, N.A. The Government’s Complaint seeks damages and civil penalties under the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”) for over six years of misconduct in connection with CITIMORTGAGE’s participation in the Federal Housing Administration (“FHA”) Direct Endorsement Lender Program
