Mortgage

August 13, 2010 - (RealEstateRama) -- Gov. Bill Ritter today announced he has appointed five new members to the Board of Mortgage Loan Originators. The Governor appointed three people to terms expiring Aug. 10, 2012: Julie I. Piepho of Fort Collins, Cheryl L. Dingwell-Keckritz of Colorado Springs and Leslie J. Mitchell of Denver

August 13, 2010 - (RealEstateRama) -- Gov. Bill Ritter today announced he has appointed five new members to the Board of Mortgage Loan Originators. The Governor appointed three people to terms expiring Aug. 10, 2012: Julie I. Piepho of Fort Collins, Cheryl L. Dingwell-Keckritz of Colorado Springs and Leslie J. Mitchell of Denver

August 13, 2010 - (RealEstateRama) -- Gov. Bill Ritter today announced he has appointed five new members to the Board of Mortgage Loan Originators. The Governor appointed three people to terms expiring Aug. 10, 2012: Julie I. Piepho of Fort Collins, Cheryl L. Dingwell-Keckritz of Colorado Springs and Leslie J. Mitchell of Denver

August 13, 2010 - (RealEstateRama) -- Gov. Bill Ritter today announced he has appointed five new members to the Board of Mortgage Loan Originators. The Governor appointed three people to terms expiring Aug. 10, 2012: Julie I. Piepho of Fort Collins, Cheryl L. Dingwell-Keckritz of Colorado Springs and Leslie J. Mitchell of Denver

August 13, 2010 - (RealEstateRama) -- Gov. Bill Ritter today announced he has appointed five new members to the Board of Mortgage Loan Originators. The Governor appointed three people to terms expiring Aug. 10, 2012: Julie I. Piepho of Fort Collins, Cheryl L. Dingwell-Keckritz of Colorado Springs and Leslie J. Mitchell of Denver

WORCESTER, MA - August 13, 2010 - (RealEstateRama) -- An Oxford man was arraigned in Worcester Superior Court for his role in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in numerous real estate transactions involving distressed properties in the Worcester County area. Allen Seymour, age 42, is charged with Forgery (4 counts), Uttering (8 counts), Inducing a Lender to Part with Property (12 counts) and Larceny by False Pretenses. Yesterday, Massachusetts State Police transported Seymour from federal prison in New Jersey to Massachusetts.Three other co-defendants have been charged in connection with this case. On December 1, 2009, Raymond A. Desautels III, age 43, of Oxford, was sentenced to serve two years in State Prison after pleading guilty to the charges of Inducing a Lender to Part with Property (5 counts).

5-Year Adjustable Also Sets New Low McLean, VA - August 13, 2010 - (RealEstateRama) — Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), and again, the fixed-rate mortgages reaching, along with the 5-year adjustable rate, set record lows for this survey. (The 30-year fixed-rate survey began [...]

Share Refinancing Into 15-Year and 20-Year at Highest Level Since 2004. McLean, VA - August 13, 2010 - (RealEstateRama) -- Freddie Mac (OTC:FMCC) announced the results of its quarterly Product Transition Report today.

PROVIDENCE, RI - August 11, 2010 - (RealEstateRama) -- U.S. Senators Jack Reed and Sheldon Whitehouse and Rhode Island Housing today announced that Rhode Island will receive $13.57 million in funding to help unemployed Rhode Islanders pay their mortgages while they seek work.

MADISON, WI - August 12, 2010 - (RealEstateRama) -- John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that Brian K. Bowling, 44, of Sun Prairie, Wisconsin, was sentenced today by U.S. District Judge Barbara B. Crabb to 51 months in prison, with a five-year term of supervised release.

Washington, DC - August 12, 2010 - (RealEstateRama) -- The Federal Housing Finance Agency is proposing a guidance for public comment that would restrict Fannie Mae, Freddie Mac and the Federal Home Loan Banks from investing in mortgages with private transfer fee covenants. The guidance would extend to mortgages and securities purchased by the Federal Home Loan Banks or acquired as collateral for advances, and to mortgages and securities purchased or guaranteed by the Enterprises.

Boise, ID - August 11, 2010 - (RealEstateRama) -- An Ada County judge has ordered more than $1 million in penalties and restitution against Access Mortgage Company, Inc. (Access Mortgage), a Seattle-based mortgage broker, for violating Idaho laws relating to mortgage and financial fraud.

FRANKFORT, KY - August 11, 2010 - (RealEstateRama) -- Gov. Steve Beshear, along with Kentucky Housing Corporation (KHC) Chief Executive Officer Richard L. McQuady, today announced that Kentucky will share $2 billion in federal assistance to help unemployed and underemployed homeowners pay their mortgages as they seek work, along with 16 other states and the District of Columbia. Kentucky is eligible for this assistance as a result of having sustained unemployment rates at or above the national average during the last 12 months.

NEW YORK, NY - August 11, 2010 - (RealEstateRama) -- Moody’s Analytics, a leading independent provider of economic forecasting and credit risk services, today announced the immediate availability of RealtyTrac Foreclosure Data, a service drawing on the extensive foreclosure, property, loan and home sales data from RealtyTrac, the leading online marketplace of foreclosure information.

WASHINGTON, D.C. - August 11, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 6, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 0.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.4 percent compared with the previous week.

August 10, 2010 - (RealEstateRama) --Two Prior Lake men have pleaded guilty in federal court in Minneapolis for their roles in a scheme that defrauded mortgage lenders out of more than $2.5 million by causing them to make loans based on false information. Appearing before United States District Court Judge David S. Doty earlier today, Beau Wesley Gensmer, age 28, pleaded guilty to one count of wire fraud and one count of money laundering in connection to that crime. Christopher Glenn Kennedy, age 31, pleaded guilty to the same charges on August 6, 2010. Gensmer and Kennedy were indicted on April 21, 2010. A third co-defendant pleaded guilty earlier in the case.

BOSTON, MA - August 10, 2010 - (RealEstateRama) -- The Patrick-Murray Administration's Division of Banks today announced the issuance of 43 temporary cease-and-desist orders against licensed mortgage loan originators in Massachusetts for failing to meet requirements for licensure under state law. The mortgage loan originators did not meet the standards set in a 2009 law, an Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also known as the SAFE Act.A significant provision of the 2007 foreclosure prevention legislation filed and signed by Governor Deval Patrick was the extension of licensing requirements to individual mortgage loan originators employed by licensed non-bank mortgage lenders and mortgage brokers. This law was updated in 2009 by Chapter 44 to ensure compliance with the federal SAFE Act which was largely patterned after the existing Massachusetts law

BOSTON, MA - August 6, 2010 - (RealEstateRama) -- Attorney General Martha Coakley’s Office concluded its case against former Brockton attorney Alec G. Sohmer and five other defendants over their roles in a 2006 foreclosure rescue scheme.The judgments entered today by Judge Thomas Connolly against Sohmer in the amount of $620,000 and against the four remaining defendants collectively in the amount of $364,000, together with the judgment obtained last May in the amount of $41,204, resolve allegations that Sohmer, with the assistance of the other defendants, orchestrated an unlawful foreclosure rescue scheme against 26 homeowners

KANSAS CITY, MO - August 5, 2010 - (RealEstateRama) -- Beth Phillips, United States Attorney for the Western District of Missouri, announced that a California woman and a Florida man were indicted by a federal grand jury today for their roles in a credit history fraud that allegedly contributed to a nearly $3 million mortgage fraud scheme in Lee’s Summit, Missouri.

BOSTON, MA - August 5, 2010 - (RealEstateRama) -- Attorney General Martha Coakley today announced that she has provided testimony to the U.S. Securities and Exchange Commission (“SEC”) regarding how to better protect investors relating to the subprime mortgage investment crisis.

WASHINGTON, D.C. - August 5, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today lauded Senate passage of H.R. 5872, a bill to increase the Federal Housing Administration’s (FHA) multifamily commitment authority, and H.R. 5981, which would allow FHA to increase its annual premiums for its single family program. Both bills passed the Senate last night and will now go to the President for his signature

McLean, VA - August 5, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), with the 30-year and 15-year fixed-rate mortgages reaching record lows for this survey. (The 30-year fixed-rate survey began in 1971, and the 15-year began in 1991.) The 5-year adjustable rate mortgage also reached its lowest level since Freddie Mac began tracking it in 2005

Salem, OR - August 3, 2010 - (RealEstateRama) -- Starting this week, Oregonians looking to buy a home or refinance their mortgage can go online to see if a mortgage lender has met stringent new licensing standards.

COLUMBUS, OH - August 4, 2010 - (RealEstateRama) -- The U.S. Department of Treasury today announced the approval of the Ohio Hardest-Hit Fund (Ohio HHF) plan.

WASHINGTON, D.C. - August 4, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 30, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.4 percent compared with the previous week

TRENTON, NJ - August 2, 2010 - (RealEstateRama) -- New Jersey Department of Banking and Insurance (DOBI) Commissioner Tom Considine on July 27, 2010 extended the processing deadline for hundreds of mortgage bankers, brokers, solicitors and other lenders who are transitioning their licenses to comply with the new mortgage licensing law.

Raleigh, NC - August 2, 2010 - (RealEstateRama) -- A mortgage lender will pay $4.5 million for its role in a scheme to sign consumers to loans they couldn’t afford on overpriced modular and manufactured homes, Attorney General Roy Cooper announced today.

Washington, DC - July 30, 2010 - (RealEstateRama) -- The Federal Deposit Insurance Corporation (FDIC) today closed on a sale of securities as part of a securitization backed by approximately $471.3 million of performing single-family mortgages from 16 failed banks.

WASHINGTON, DC - August 3, 2010 - (RealEstateRama) -- Fannie Mae (FNMA/OTC) today announced the launch of KnowYourOptions.com, a new consumer education Web site that outlines the choices available to homeowners who are struggling with their mortgage payments, and provides guidance on how they can contact and work with their mortgage company to find solutions.

McLean, VA - August 2, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today named Jerry Weiss to the newly created position of chief administrative officer (CAO). Weiss will continue to serve as the company’s chief compliance officer and oversee the Compliance, Economics and Strategy, Regulatory Affairs and Mission divisions. As CAO, he will also manage two additional functions – External Relations and Human Resources. Weiss will continue to report directly to CEO Charles E. "Ed" Haldeman, Jr. as a member of Freddie Mac’s management committee.