Mortgage
Home Mortgage
Lynn CPA Pleads Guilty to Mortgage and Tax Charges
A Lynn accountant pleaded guilty today in federal court in Boston to assisting a multi-year mortgage fraud scheme by creating fraudulent tax returns and submitting fraudulent letters to lenders.
Menendez, Booker, Colleagues Introduce Legislation to Help Prevent Housing Discrimination
U.S. Senators Bob Menendez, a senior member of the Senate Banking Committee, and Cory Booker today joined a group of their colleagues in introducing legislation that would require loan quality criteria be made publically available by any lender issuing...
Menendez, Schatz, Colleagues Urge Banks, Creditors to Implement Relief Measures for Federal Workers Struggling...
U.S. Senators Bob Menendez (D-N.J.) and Brian Schatz (D-Hawaii), members of the Senate Banking Committee, today led the call for banks, lenders and financial institutions to work with their customers who have been impacted by the partial government shu...
The Home Depot Foundation Awards Habitat for Humanity of Greater Los Angeles a $300,000...
Programmatic funding will support home repairs for low-income veteran households and the construction of a new, affordable home for a veteran homebuyer. Habitat for Humanity of Greater Los Angeles (Habitat LA) has been awarded a $300,000 grant from The...
Real Estate Broker Sentenced for Role in Sweeping Mortgage Fraud Conspiracy
A Methuen real estate broker was sentenced today in connection with a sweeping conspiracy to defraud banks and mortgage companies by engaging in sham “short” sales of residential properties in Merrimack Valley.
REP. JOHN RATCLIFFE VOTES TO ELIMINATE CFPB BURDENS ON COMMUNITY FINANCIAL INSTITUTIONS
Rep. John Ratcliffe (R-Texas) voted today for the passage of the Community Institution Mortgage Relief Act of 2017 (H.R. 3971) in the U.S. House of Representatives. This bill will reduce compliance costs for smaller community financial institutions by ...
U.S. Attorney’s Office Charges Suburban Mortgage Brokers with Fraud for Allegedly Controlling Property Appraisals...
The U.S. Attorney’s Office in Chicago has charged two suburban mortgage brokers with fraudulently operating a purportedly independent appraisal management company to control property valuations, and brokering fraudulent loans to finance real estate transactions between themselves and nominees.
Bipartisan: Huizenga Legislation to Help Low and Middle Income Families Passes Committee
The House Financial Services Committee passed the Mortgage Choice Act, bipartisan legislation introduced by Congressman Bill Huizenga (R-MI) and Congressman Greg Meeks (D-NY). This legislation clarifies the definition of “points and fees” currently preventing some low and middle income families from attaining a qualified mortgage (QM). This bipartisan bill passed the committee by a vote of 46-13.
Mortgage Company President Pleads Guilty to Defrauding Ginnie Mae
The president and founder of a Falmouth mortgage company pleaded guilty yesterday in federal court in Boston in connection with defrauding the Government National Mortgage Association (Ginnie Mae) out of approximately $2.5 million.
CalHFA Increases Access to Manufactured Home Loans
The California Housing Finance Agency has released new guidelines for lending on manufactured homes that will increase access to housing for low- and moderate-income homebuyers who use a CalHFA mortgage insured by the Federal Housing Administration
South Carolina Begins Using Uniform Mortgage Test; 57 State Agencies Now Using the Test
The Conference of State Bank Supervisors (CSBS) announced today that the South Carolina State Board of Financial Institutions and the South Carolina Department of Consumer Affairs will begin using the National SAFE Mortgage Loan Originator (MLO) Test w...
South Carolina Begins Using Uniform Mortgage Test; 57 State Agencies Now Using the Test
The Conference of State Bank Supervisors (CSBS) announced today that the South Carolina State Board of Financial Institutions and the South Carolina Department of Consumer Affairs will begin using the National SAFE Mortgage Loan Originator (MLO) Test w...
CONGRESSMAN HIGGINS CALLS ON HUD TO DEBAR WELLS FARGO FROM FEDERAL HOME LOAN BUSINESS
In the toughest action to date, Congressman Brian Higgins (NY-26), a member of the House Ways and Means Committee, is calling for Wells Fargo to be excluded from participation in the federal mortgage guarantee program following a disturbing, recurring...
CONGRESSMAN HIGGINS CALLS ON HUD TO DEBAR WELLS FARGO FROM FEDERAL HOME LOAN BUSINESS
In the toughest action to date, Congressman Brian Higgins (NY-26), a member of the House Ways and Means Committee, is calling for Wells Fargo to be excluded from participation in the federal mortgage guarantee program following a disturbing, recurring...
Senator Warren Raises Concerns About Aggressive and Misleading Marketing of VA Refinance Mortgages, Urges...
U.S. Senator Elizabeth Warren today raised concerns that certain companies may be aggressively and misleadingly marketing the refinancing of mortgages backed by the U.S. Department of Veterans Affairs (VA), generating fees for themselves at the expense...
The Massachusetts Association of Realtors® Charitable Foundation Donates $20,000 in Disaster Relief Aid to...
The Massachusetts Association of Realtors® Charitable Foundation announced today that the group is donating $20,000 to the National Association of Realtors® Realtor® Relief Foundation to fund rescue and recovery efforts underway in the areas of Texas most affected by Hurricane Harvey. All funds go to help Realtors® and others in need with temporary housing, mortgage payments and related expenses
Total Household Debt Increases, Driven by Mortgage, Auto and Credit Card Debt
The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit,which reported that total household debt increased by $114 billion (0.9%) to $12.84 trillion in the second quarter of 2017. There were modest increases ...
VETERANS UNITED HOME LOANS TO PAY $604,000 IN RESTITUTION TO NEW YORK CONSUMERS AND...
Financial Services Superintendent Maria T. Vullo today announced that Mortgage Research Center, LLC, doing business as VAMortgage Center and/or Veterans United Home Loans, will pay approximately $604,000 in restitution to New York consumers, primarily ...
Reps. Royce and Moore Introduce Bipartisan GSE Reform Bill to Stabilize Housing Market
U.S. Representatives Ed Royce (R-CA) and Gwen Moore (D-WI), introduced H.R. 3556, the Taxpayer Protections and Market Access for Mortgage Finance Act, legislation requiring the GSEs to increase credit risk transfers (CRT) with the private sector.
Congressman Sherman Introduces Resolution to Preserve the Dream of Homeownership
Congressmen Brad Sherman (D-CA) and Peter King (R-NY) introduced a bipartisan House Resolution expressing support for the home mortgage interest and property tax deductions. Reps. Sherman and King were joined by Representatives Nanette Barragan (D-CA)...
$241,401 Judgment Obtained in Alleged Mortgage Scam
Attorney General Mark Brnovich announced his office obtained a $241,401 judgment against Mortgage Relief Solutions, Inc. and its owner, Eric David Brown. The judgment also prohibits Mortgage Relief Solutions and Eric Brown from engaging in mortgage or ...
State Regulator Hosts Chicago Mortgage Cybersecurity Conference
Illinois licensed professionals on the front line of the mortgage and real estate closing process descended upon the James R. Thompson Center this week to learn more about cyber and data security. A free conference hosted by the Illinois Department of ...
June 2, 2017 Christie Administration Marks Grand Opening of Lacey Township Affordable Housing Units...
The first phase of an affordable housing development in Lacey Township, which was built using Superstorm Sandy recovery funds and is now home to several Sandy-impacted residents, marked its grand opening this week with New Jersey Housing and Mortgage F...
Rubio, Cortez Masto Urge Administration to Protect Seniors from Eviction Under Reverse Mortgage Program
U.S. Senators Marco Rubio (R-FL) and Catherine Cortez Masto (D-NV), members of the Senate Special Committee on Aging, today urged U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson and Office of Management and Budget (OMB) Director Mick Mulvaney to protect seniors from potential eviction under reverse mortgage rules. The senators urged the Administration to keep existing safeguards in place to protect seniors from losing their homes and requested verification of the Administration’s plan to do so
Home Price Growth Expectations Increase; Renters Perceive Easier Access to Mortgage Credit
The Federal Reserve Bank of New York today released results from its February 2017 SCE Housing Survey, which provides information on consumers' housing-related experiences and expectations.
Homebuyers Can Now Use Income from ADUs to Help Qualify for CalHFA First Mortgages
The California Housing Finance Agency has revised its guidelines so first-time homebuyers may apply rental income from an Accessory Dwelling Unit (ADU) toward loan qualification. This update follows the guidelines of Fannie Mae and the Federal Housing ...
Brown Releases County-By-County Data of Ohio Complaints Against Abusive Mortgage Servicer
U.S. Sen. Sherrod Brown (D-OH) – ranking member of the Senate Banking, Housing, and Urban Affairs Committee – applauded recent action by the Consumer Financial Protection Bureau (CFPB) against Ocwen Financial Corp. The CFPB alleges that Ocwen, one of the nation’s largest nonbank mortgage servicers, for years “engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process.” Ocwen has been the subject of several enforcement actions and more than 23,000 CFPB complaints, including 675 complaints from Ohioans.
Seniors to Receive More Than $130,000 in Settlement With Insurance Agent and Mortgage Broker...
Massachusetts seniors will receive more than $130,000 in refunds as a result of a settlement with a mortgage broker, its employee and an insurance agent that resolves claims they induced elderly clients to take out reverse mortgages and invest the proc...
SARATOGA & CAPITAL REGION HOMEOWNERS IN TAX JEOPARDY AS NEWLY CONFIRMED U.S. TREASURY SECRETARY...
Standing with Saratoga County homeowners and amidst rising local anxiety, today U.S. Senate Minority Leader Charles E. Schumer launched a push to preserve popular, but increasingly at-risk tax deductions Saratoga homeowners and taxpayers depend upon to keep the Capital Region’s cost of living in-check. Whether new Saratoga homeowners, longtime owners, or those looking to buy right now, Schumer said locals are in tax jeopardy as newly-confirmed U.S. Treasury Secretary Mnuchin has suggested threats to mortgage, state and local property tax deductions.
Baltimore Real Estate Agent Sentenced to Over Two Years in Prison for $735,000 Mortgage...
U.S. District Judge James K. Bredar sentenced Michael Gerard Camphor, age 60, of Baltimore, to 27 months in prison, followed by three years of supervised release on charges arising from the fraudulent purchase of four properties in Baltimore, using fra...
