Mortgage

Washington, D.C. - April 13, 2011 - (RealEstateRama) -- NeighborWorks® America, one of the nation’s largest community development corporations, today named Deborah Boatright and John Santner, Directors for the Northeast Region and Midwest Region, respectively. Each Regional Director will oversee two District offices – the Great Lakes and North Central Districts in the Midwest Region and the Northeast and New England districts in the Northeast Region. The move is intended to increase the efficiency of NeighborWorks America and enhance the corporation’s ability to meet the needs of its network of award winning, locally-based community development nonprofit businesses. Santner formerly was District Director for the NeighborWorks America North Central District, while Boatright formerly was District Director for the corporation’s Northeast District

WASHINGTON, D.C. - April 13, 2011 - (RealEstateRama) -- Mortgage applications decreased 6.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending April 8, 2011.

TRENTON, NJ - April 121, 2011 - (RealEstateRama) -- Attorney General Paula T. Dow and Criminal Justice Director Stephen J. Taylor announced that six men were indicted today on charges that they stole more than $2.6 million from lenders by filing fraudulent mortgage loan applications.

Scotsman Guide Releases Top Originators 2010 Rankings Brookfield, WI - April 12, 2011 - (RealEstateRama) — Inlanta Mortgage congratulates its Pewaukee Branch Manager, Jim Snyder, for his ranking as a Scotsman Guide 2010 Top Originator. Jim was ranked #106 in Loans Closed and #161 in Total Volume.

WASHINGTON, D.C. - April 121, 2011 - (RealEstateRama) -- National consumer, civil rights, and labor groups ask bank regulators to withdraw the proposed consent orders issued to the nation’s mortgage servicers and to work with the state Attorneys General and United States Department of Justice to obtain a joint settlement that addresses illegal servicing practices in a meaningful manner.

Washington, DC - April 121, 2011 - (RealEstateRama) -- The National Foundation for Credit Counseling (NFCC) is the recipient of a Housing and Urban Development (HUD) program grant to assist seniors who have taken out a Home Equity Conversion Mortgage (HECM) and who are delinquent on their property charges, such as taxes and insurance, thus putting their home in danger of foreclosure.

WASHINGTON, D.C. - April 121, 2011 - (RealEstateRama) WHAT: The Mortgage Bankers Association's (MBA) 2011 National Secondary Market Conference & Expo- ‘Securing Future Market Growth

Santa Rosa Beach, FL - April 121, 2011 - (RealEstateRama) -- Housing appreciation will take a number of years to materialize again after the downturn in most local U.S. housing markets, according to the findings of a new Housing Predictor survey. Consumers are cautiously optimistic about the market with more than 1 out of 3 surveyed saying it will take more than five years for the market to appreciate.

AUBURN, ME - April 11, 2011 - (RealEstateRama) -- Reliant Mortgage Company, LLC. is proud to announce the alliance of Janice Wescott and Brendan Fontaine’s team (formerly New England Home Loans) to establish a very exciting, powerful mortgage banking...

Manasquan, NJ - April 11, 2011 - (RealEstateRama) -- Well, now you have in your hands an inspection report listing material defects, maintenance recommendations and reams of information items. As a buyer, what is your next step? If your inspector was worth their salt, you will understand the issues clearly after reading the report. If not, you probably called your real estate agent to interpret the report for you, and he or she may be equally confused. Remember, it is not the agent's responsibility to decide for you what inspection items are important, however they can be a real help in knowing the mindset of the particular seller and what they are likely to do.

WASHINGTON, D.C. - April 11, 2011 - (RealEstateRama) -- Under a settlement with the Federal Trade Commission, two companies and three individuals are banned from the mortgage relief services business and must relinquish $2.2 million in assets for consumer refunds. The action is part of the FTC’s ongoing effort to stop scams that target financially strapped homeowners seeking mortgage relief.

WASHINGTON, DC - April 11, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) announced today that it will launch an effort to better address national origin based housing discrimination during Fair Housing Month in April. HUD will initiate a national media campaign and a series of community discussions on topics ranging from rental practices to mortgage lending. HUD's first Immigrant Housing Conference, which will educate the public and housing providers about their fair housing rights and responsibilities, will be conducted in Omaha, Nebraska, April 14

Las Vegas, NV - April 11, 2011 - (RealEstateRama) -- Question: There are many short sale properties on the market in Nevada. Is it legal for a buyer to place multiple offers on multiple homes?

WASHINGTON, DC - April 8, 2011 - (RealEstateRama) -- The Federal Housing Administration's Mortgagee Review Board (MRB) today announced a settlement agreement with a Massachusetts mortgage lender for failing to fully verify whether borrowers could sustain their mortgage payments prior to refinancing their loans. Among the alleged violations, the MRB claimed First American Mortgage Trust (FAMT) of Brookline, Massachusetts refinanced mortgage loans for borrowers with serious credit delinquencies without properly analyzing the households' ability to manage credit

URBANA, IL - April 8, 2011 - (RealEstateRama) -- A Chicago-area man, Salvatore DiBenedetto, 52, of Downers Grove, appeared in federal court in Urbana today after his arrest on a 16-count indictment charging him with defrauding an Arcola, Illinois bank of approximately $2.5 million from April 2008 to February 2010. The indictment had remained sealed pending DiBenedetto’s arrest and court appearance. DiBenedetto was ordered detained in the custody of the U.S. Marshals Service pending a hearing scheduled on Apr. 12.

Atlanta, GA - April 8, 2011 - (RealEstateRama) --On April 6, 2011, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with BDK Mortgage & Investments, Inc. (“BDK Mortgage”), License Number 11800, Nationwide Mortgage Licensing System Number 166983, located at 201 Tallman Drive, Martinez, Georgia 30907 and its owners, Jackie H. Spires and James Spires, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules.

SHELTON, CT – The Grand Opening celebration for Cranberry Hill Estates, Shelton’s newest family community, has been set for Sunday, April 17 from 1-4 p.m., announced the New Homes Division of William Raveis Real Estate, Mortgage & Insurance.

Irvine, CA - April 8, 2011 - (RealEstateRama) -- Due to recent confusion President & CEO of the California based Lenox Financial Mortgage Corporation, Wesley Hoaglund, clarifies that there is no affiliation with the Atlanta, Georgia based Lenox Financial Mortgage, LLC.

TRENTON, N.J. - April 7, 2011 - (RealEstateRama) -- To coincide with the traditional start of home buying season, the New Jersey Department of Community Affairs (DCA) and New Jersey Housing and Mortgage Finance Agency (HMFA) today launched The Road Home New Jersey, an education initiative that prospective first-time homebuyers can use to navigate the road to affordable home ownership

San Francisco, CA - April 7, 2011 - (RealEstateRama) -- The Federal Reserve, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation have drafted consent decrees with the nation’s largest mortgage servicers that would purportedly improve their foreclosure practices. These legal agreements represent an inadequate attempt by regulators to address illegal servicing practices that have caused countless people to lose their homes.

WASHINGTON, DC - April 7, 2011 - (RealEstateRama) -- HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, released its February 2011 loan modification data, which shows that an estimated 87,000 homeowners received permanent, affordable loan modifications from mortgage servicers for the month.

WASHINGTON, D.C. - April 7, 2011 - (RealEstateRama) -- On Tuesday, April 5, 2011, the Mortgage Bankers Association (MBA) sent the attached letter to Treasury Secretary Timothy Geithner, HUD Secretary Shaun Donovan and Federal Housing Finance Agency (FHFA) Director Edward DeMarco expressing MBA’s strong reservations about the stated timetable to revamp the fee structure for residential mortgage loan servicing.

WASHINGTON, D.C. - April 6, 2011 - (RealEstateRama) WHAT: The 50+ housing market does not always mirror the overall housing industry. Panelists on the call will provide an overview of the 50+ industry and discuss how it is performing compared to the rest of the industry, as well as provide an analysis of emerging trends and growth opportunities.

Deerfield, IL - April 6, 2011 - (RealEstateRama) -- If you have not already heard Fannie Mae is in the process of changing their loan documents. This is the first major rewrite of Fannie docs in about 10 years and this is a substantial change from previous documents, both in form and content. Since Fannie is one of the largest multifamily lenders and anyone financing a property is, or should be, getting a Fannie quote, you need to understand these changes.

WASHINGTON, D.C. - April 6, 2011 - (RealEstateRama) -- Mortgage applications decreased 2.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending April 1, 2011.

WASHINGTON, D.C. - April 5, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today announced the promotion of Jim Gross to Vice President of Financial Accounting and Public Policy. In this capacity, he will advise Steve O’Connor, MBA’s Senior Vice President of Public Policy and Industry Relations on emerging industry policy issues and assist in setting strategic priorities.

Washington, DC - April 5, 2011 - (RealEstateRama) -- Wells Fargo Bank was the top commercial/multifamily mortgage originator in 2010, according to a set of listings released today by the Mortgage Bankers Association (MBA). Other originators in the top 10 include HFF, L.P.; Meridian Capital Group, LLC.; CBRE Capital Markets, Inc.; Prudential Mortgage Capital Company; MetLife Real Estate Investments; Deutsche Bank Commercial Real Estate; PNC Real Estate; Northmarq Capital, LLC; and Berkadia Commercial Mortgage LLC

Washington, D.C. - April 5, 2011 - (RealEstateRama) -- The Securities and Exchange Commission today announced that Wells Fargo Securities LLC agreed to settle charges that Wachovia Capital Markets LLC engaged in misconduct in the sale of two collateralized debt obligations (CDOs) tied to the performance of residential mortgage-backed securities as the U.S. housing market was beginning to show signs of distress in late 2006 and early 2007.

MILFORD, CT - April 5, 2011 - (RealEstateRama) -- TMS Funding, the wholesale residential lending channel of Total Mortgage Services, LLC, announced today the hiring of six new Wholesale Account Executives, all with successful track records in developing new business relationships and supporting high quality mortgage brokers.

NEW YORK, NY - April 4, 2011 - (RealEstateRama) -- The Federal Reserve Bank of New York today released Help for Unemployed Borrowers: Lessons from the Pennsylvania Homeowners’ Emergency Mortgage Assistance Program, the latest article in its Current Issues in Economics and Finance series from the Research and Statistics Group.