Mortgage

NEW YORK, NY - April 22, 2011 - (RealEstateRama) -- Comptroller John C. Liu issued the following statement regarding the NYC Pension Funds’ proposal that the bank’s board of directors launch an independent audit of its mortgage and foreclosure practices. The proposal is on the agenda at Citigroup’s annual meeting in New York City tomorrow:

ALBUQUERQUE, NM - April 22, 2011 - (RealEstateRama) -- United States Attorney Kenneth J. Gonzales announced that this afternoon, a federal jury convicted Albuquerque real estate agent Kevin Powers, 51, of 17 counts of wire fraud in connection with an unlawful scheme to defraud mortgage lenders and to obtain over $5.5 million in loan proceeds through false pretenses, misrepresentations, and omissions. At sentencing, Powers faces up to 20 years’ imprisonment and a maximum $250,000 fine on each count of conviction. Powers remains on release under pretrial supervision pending his sentencing hearing, which is scheduled for July 18, 2011.

April 22, 2011 - (RealEstateRama) -- Earlier today in federal court in St. Paul, three people were charged with orchestrating a scheme to defraud mortgage lenders out of approximately $4.2 million relative to a Minnetonka development. Sheri Lynn Delich, age 45, of Apple Valley; My Dinh Lam, age 30; of Minneapolis; and Ashley Elizabeth Prasil, age 26, of Eden Prairie, were charged via an information with one count of conspiracy to commit mortgage fraud. In addition, Delich was charged with one count of money laundering.

April 22, 2011 - (RealEstateRama) -- As a part of Financial Literacy Month the Idaho Department of Finance is promoting online resources for homeowners who are behind on their mortgage payments, or who may be at risk of falling behind on their mortgage payments. “Homeowners need to know that federal and state laws are in place to protect them from mortgage relief scams that have sprung up during the mortgage crisis,” said Gavin Gee, Department of Finance director.

Brookfield, WI - April 20, 2011 - (RealEstateRama) -- Inlanta Mortgage announced today that it carries the new LendRIGHT™ seal of excellence for the mortgage industry.

WASHINGTON, D.C. - April 20, 2011 - (RealEstateRama) -- Mortgage applications increased 5.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending April 15, 2011.

April 19, 2011 - (RealEstateRama) -- Unemployed workers and others facing temporary financial hardships in our area have a new avenue to seek mortgage help while they get back on their feet.

AUSTIN, TX - April 19, 2011 - (RealEstateRama) -- Representative Stefani Carter (Dallas) has passed House Bill 1343, which will expand the venues in which incidents of mortgage fraud may be prosecuted.

RICHMOND, VA - April 19, 2011 - (RealEstateRama) -- Jodi D. Robinson, age 38, a Richmond realtor and owner of Citicorp Investments, a Virginia LLC, pled guilty today to a five-year mortgage loan fraud, in violation of Title 18, United States Code, Section 1341. Robinson is facing a sentence of 30 years in prison and a fine of $1 million dollars when she is sentenced by Chief United States District Judge James R. Spencer on July 31, 2011. Neil J. MacBride, United States Attorney for the Eastern District of Virginia; Kenneth R. Taylor, Special Agent in Charge of HUD's Office of Inspector General; Keith Fixel, the Inspector in Charge of the Postal Inspection Service; and Michael Morehart, Special Agent in Charge of the FBI, announced today's guilty plea

April 19, 2011 - (RealEstateRama) -- Earlier today in federal court in Minneapolis, a 39-year-old contractor from Ham Lake pleaded guilty to participating in a mortgage fraud scheme. Andrew Paul Stoner pleaded guilty to one count of conspiracy to commit wire fraud. Stoner, who was charged on March 10, 2011, entered his plea before United States District Court Judge Ann D. Montgomery.

April 18, 2011 - (RealEstateRama) -- Earlier today in federal court in Minneapolis, a 49-year-old Champlin woman pleaded guilty to her role in a mortgage fraud scheme involving at least 200 properties—principally in north Minneapolis—and mortgage proceeds of approximately $35 million. Gayle Deann Claus pleaded guilty to one count of conspiracy to commit mail and wire fraud. Claus, who was indicted on June 15, 2010, along with two co-defendants, entered her plea before United States District Court Judge David S. Doty.

Washington, DC - April 18, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.) yesterday reintroduced H.R. 1567, the Foreclosure Prevention and Sound Mortgage Servicing Act of 2011. Congresswoman Waters has introduced similar legislation since the 110th Congress, and has long maintained that the servicing industry is broken. By reintroducing and updating the bill, Congresswoman Waters continues to demonstrate her commitment to ending the foreclosure crisis and holding servicers accountable.

WASHINGTON, DC - April 18, 2011 - (RealEstateRama) -- The House voted last week to eliminate a mortgage relief program the Obama administration established nearly two years ago to help homeowners avoid foreclosure.

Washington, DC - April 15, 2011 - (RealEstateRama) -- Today, Rep. Walz introduced legislation to protect servicemembers from abusive, illegal mortgage practices

WASHINGTON, D.C. - April 15, 2011 - (RealEstateRama) -- The following statement was issued by the Center for Responsible Lending, the Community Mortgage Banking Project, the Mortgage Bankers Association, the Mortgage Insurance Companies of America, the National Association of Home Builders and the National Association of Realtors in advance of the April 14th House Subcommittee on Capital Markets and Government Sponsored Enterprises hearing on the Qualified Residential Mortgage:

WASHINGTON, D.C. - April 15, 2011 - (RealEstateRama) -- Henry V. Cunningham Jr., CMB, Mortgage Bankers Association (MBA) board member and chairman of the MBA Residential Board of Governors, testified today on behalf of MBA before the House Financial Services Committee Subcommittee on Capital Markets and Government Sponsored Enterprises at a hearing on, "Understanding the Implications and Consequences of the Proposed Rule on Risk Retention," providing the perspectives of both the commercial and residential real estate finance markets.

CLEVELAND, OH - April 15, 2011 - (RealEstateRama) -- County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General and Ohio's Organized Crime Investigations Commission announced indictments against Takara Madkins, and her company, D. & T. Investments, Inc. Others indicted were Jerrall Collier and Darrick Ceasor, and his company, Dee Cee Supply. All the homes fell into either tax or mortgage foreclosure, leaving a current tax delinquency amount of $30,349.15 owed to the county

WASHINGTON, D.C. - April 15, 2011 - (RealEstateRama) -- An administrator working for the Federal Trade Commission has mailed 1,410 refund checks to consumers allegedly defrauded by Home Assure LLC, a so-called mortgage foreclosure rescue service. The FTC alleged that the company charged consumers an up-front fee and falsely claimed its special relationships with lenders would enable it to get favorable loan modifications or stop foreclosure

PITTSBURGH, PA - April 14, 2011 - (RealEstateRama) -- A resident of New Kensington, Pa., has been indicted by a federal grand jury in Pittsburgh on charges of wire fraud, aggravated identity theft, filing a false tax return, and failing to file income tax returns, United States Attorney David J. Hickton announced today.

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- In the wake of a settlement between 14 U.S. mortgage servicers and foreclosed homeowners, U.S. Sen. Sherrod Brown (D-OH) introduced landmark legislation to prevent future servicer fraud and errors, improve foreclosure counseling and prevention, and reform oversight of mortgage-based investing.

Washington, DC - April 14, 2011 - (RealEstateRama) -- This week, Congressman Al Green (TX-09) introduced two amendments which focus on housing counseling and the Housing and Urban Development Veterans Affairs Supportive Housing (HUD-VASH) program to the Department of Defense and Full-Year Continuing Appropriations Act, 2011 (H.R. 1473).

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- The following statement was issued by the Center for Responsible Lending, the Community Mortgage Banking Project, the Mortgage Bankers Association, the Mortgage Insurance Companies of America, the National Association of Home Builders and the National Association of Realtors in advance of the April 14th House Subcommittee on Capital Markets and Government Sponsored Enterprises hearing on the Qualified Residential Mortgage:“In the midst of a very fragile housing recovery, the government is throwing a devastating, unnecessary and very expensive wrench into the American dream. First time homebuyers will have to choose between higher rates today or a 9-14 year delay while they save up the necessary down payment. And 25 million current homeowners would be locked out of lower refinancing rates because they lack the required 25 percent equity in their homes.”

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev., issued the following statement regarding President Obama’s speech today at George Washington University on deficit reduction:“President Obama today reiterated the importance of tax policy in promoting homeownership but endorsed limiting itemized deductions, including the mortgage interest deduction. Home owners cannot afford higher taxes at a time when the housing market is struggling to recover and contribute to economic growth.

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) issued the statement below, following the announcement of agreements between the Office of the Comptroller of the Currency, the Federal Reserve and the Office of Thrift Supervision and 14 large residential mortgage servicers.

WASHINGTON, DC - April 14, 2011 - (RealEstateRama) -- Fannie Mae today announced the opening of the Jacksonville Mortgage Help Center to provide free education and counseling services to struggling Duval County homeowners. The Jacksonville Center, the latest of eight Mortgage Help Centers to open across the country, is part of Fannie Mae's nationwide initiative to educate families about the options and tools available to help them stay in their homes. The Center was developed in partnership with Wealth Watchers, Duval County community and elected officials, and area mortgage servicers

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- Senate Banking Committee Chairman Tim Johnson (D-SD) issued the following statement regarding agreements reached between federal regulators and mortgage servicers addressing improper and fraudulent mortgage servicing practices.

West Haven, CT - April 13, 2011 - (RealEstateRama) -- ConstructionConfidant.Com is proud to to announce that our popular "Homeowner Defender Service" is now available to serve the needs of the mortgage banking and home insurance agencies accross the country. Our unique and innovative approach helps protect homeowners from home improvement scams, control unforseen costs, and walks your clients through the entire construction process.

WASHINGTON, DC - April 13, 2011 - (RealEstateRama) -- The Office of the Comptroller of the Currency today announced formal enforcement actions against eight national bank mortgage servicers and two third-party servicer providers for unsafe and unsound practices related to residential mortgage loan servicing and foreclosure processing.

WASHINGTON, DC - April 13, 2011 - (RealEstateRama) -- Fannie Mae today announced the opening of the Tampa Mortgage Help Center to provide free education and counseling services to struggling homeowners in the Greater Tampa Bay area. The Tampa Center, the seventh Mortgage Help Center to open across the country, is part of Fannie Mae's nationwide initiative to educate families about the options and tools available to help them stay in their homes.

April 13, 2011 - (RealEstateRama) -- The Federal Reserve Board on Wednesday announced formal enforcement actions requiring 10 banking organizations to address a pattern of misconduct and negligence related to deficient practices in residential mortgage loan servicing and foreclosure processing. These deficiencies represent significant and pervasive compliance failures and unsafe and unsound practices at these institutions.