Mortgage

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.

July 30, 2010 - (RealEstateRama) -- A Hancock County Superior Court jury convicted Eric S. Murphy, Jr. of Ellsworth on Wednesday in connection with an investment scam Murphy ran in conjunction with his residential construction loan business. Murphy, a former mortgage loan broker whose license was revoked by the Bureau of Consumer Credit Protection in April, 2009, was found guilty of taking approximately $450,000 from 4 investors under false pretenses during the period October, 2006 through April, 2008. Instead of using funds received from investors to fund mortgage loans for consumers, Murphy used the bulk of the proceeds for his own business and personal purposes.

Top Mortgage Loan Fraud SARs by Metropolitan Statistical Areas, County, State. VIENNA, VA - July 30, 2010 - (RealEstateRama) -- The Financial Crimes Enforcement Network (FinCEN), today released its 2009 Mortgage Loan Fraud (MLF) study which found the number of mortgage fraud suspicious activity reports (SARs) filed in 2009 grew 4 percent compared with the number of mortgage fraud SARs filed in 2008. FinCEN also reported today that just looking at the fourth quarter of 2009, mortgage fraud SAR filings increased 6 percent over the same period in 2008

Washington, D.C. - July 30, 2010 - (RealEstateRama) -- The Securities and Exchange Commission today charged Citigroup Inc. with misleading investors about the company's exposure to subprime mortgage-related assets. The SEC also charged one current and one former executive for their roles in causing Citigroup to make the misleading statements in an SEC filing

July 30, 2010 - (RealEstateRama) -- A company that deceived consumers with promises it could save their homes from foreclosure will pay $2.4 million to victims as part of a settlement with the Federal Trade Commission. The case is part of the agency’s continuing crackdown on scams that prey on financially distressed homeowners.

TRENTON, NJ - July 29, 2010 - (RealEstateRama) -- New Jersey Department of Banking and Insurance (DOBI) Commissioner Tom Considine today alerted consumers that he has ordered Hawthorne Capital Corp.

Washington, D.C. - July 29, 2010 - (RealEstateRama) -- Marti Rodamaker, president of First Citizens National Bank in Mason City, Iowa, testified today on behalf of the Independent Community Bankers of America (ICBA) before the House Financial Services Capital Markets Subcommittee.

July 29, 2010 - (RealEstateRama) -- Bureau of Financial Institutions Superintendent Lloyd P. LaFountain, III announced this week that first quarter 2010 data submitted by Maine-chartered banks and credit unions shows a continuing increase in completed home foreclosures in Maine

WASHINGTON, DC - July 29, 2010 - (RealEstateRama) -- Fannie Mae (FNMA/OTC) today announced the opening of a new mortgage help center in Chicago to provide counseling and other services for struggling homeowners in the greater metro area with loans owned by Fannie Mae. The Chicago Mortgage Help Center (Center) is the second facility and third announced partnership in a series of planned mortgage help centers across the country. Fannie Mae is partnering on this initiative with Neighborhood Housing Services of Chicago, major mortgage servicers, and civic and community leaders from across the region.At the Center, borrowers will meet directly with dedicated, on-site English- and Spanish-speaking staff and experienced housing counselors to discuss their mortgage situation. These face-to-face meetings will help borrowers better understand the range of foreclosure prevention options available to them and help them to better manage their relationship with their servicer

WASHINGTON, D.C. - July 29, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 23, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4.2 percent compared with the previous week

Washington, DC - July 29, 2010 - (RealEstateRama) -- Second quarter 2010 commercial and multifamily mortgage loan originations were one percent higher than during the same period last year and 35 percent higher than during the first quarter, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

McLean, VA – 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

McLean, VA - July 29, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) announced today that it will not issue a Reference Notes® security on July 29, 2010. The company’s 2010 Reference Notes calendar designates dates that it may use to announce the issuance of Reference Notes securities.

Las Vegas, NV - July 29, 2010 - (RealEstateRama) -- Richard Ballen, a Las Vegas Realtor specializing in Short Sales in Nevada stops a Nevada Foreclosure. Another successfully closed Wachovia Short Sale in Nevada. TOTAL DAYS 53 LIST TO CLOSE IN ADDITION TO $5000 TO SELLER!

Pittsburgh, PA - July 27, 2010 - (RealEstateRama) -- Acting United States Attorney Robert S. Cessar announced today, July 27, 2010, that Mark Hipsley of Pittsburgh, Pennsylvania, has been indicted by a federal grand jury in Pittsburgh,

Washington, DC - July 28, 2010 - (RealEstateRama) -- Federal agencies issued final rules today requiring residential mortgage loan originators who are employees of national and state banks, savings associations,

July 28, 2010 - (RealEstateRama) -- Federal agencies issued final rules today requiring residential mortgage loan originators who are employees of national and state banks, savings associations, Farm Credit System institutions, credit unions, and certain of their subsidiaries (agency-regulated institutions) to meet the registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The final rules are being issued by the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of Thrift Supervision, Farm Credit Administration, and National Credit Union Administration (the agencies)

OLYMPIA, WA - July 27, 2010 - (RealEstateRama) -- The Department of Financial Institutions (DFI) is pleased to announce the successful implementation of the new mortgage licensing requirements as required by the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the “S.A.F.E. Act”).

Washington, DC - July 27, 2010 - (RealEstateRama) -- The Federal Housing Finance Agency today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.91 percent based on loans closed in June. This is a decrease of 0.08 percent from the previous month

Atlanta, GA - July 26, 2010 - (RealEstateRama) -- Congressmen John Lewis, David Scott, and Hank Johnson are proud to announce their upcoming event to assist Atlanta area homeowners who may be struggling with their mortgages. The three members are joining forces with the U. S. Department of Housing and Urban Development, the U.S. Department of the Treasury, The Hope Now Alliance and NeighborWorks America for the "Help for Homeowners" project scheduled for Friday, July 30th 1:00PM to 7:30PM and Saturday, July 31st from 8:30AM to 3:00PM, at the Atlanta Marriott Marquis, 265 Peachtree Center Avenue. HUD Secretary Shaun Donovan will also be in attendance on Saturday, July 31st.

WILTON, CT - July 26, 2010 - (RealEstateRama) -- The mortgage industry is going through sweeping change. Now is the time for all mortgage industry participants to gather and discuss new ideas, new automation strategies and new processes to move the mortgage industry forward. PROGRESS in Lending Association fills this void and provides a place for innovation and thought leadership to occur

WASHINGTON, DC - July 26, 2010 - (RealEstateRama) -- The Federal Housing Administration's Mortgagee Review Board (MRB) today published a notice in the Federal Register to announce dozens of administrative actions against FHA-approved lenders who failed to meet its requirements. This year alone, the MRB took nearly 1,500 administrative sanctions against lenders, including reprimands, probations, suspensions, withdrawals of approval, and civil money penalties.

July 26, 2010 - (RealEstateRama) -- Eight marketers are banned from selling mortgage modification or foreclosure relief services under settlements with the Federal Trade Commission. The FTC alleged that the marketers charged homeowners up-front fees and falsely claimed they could get their mortgage loans modified or prevent foreclosure on their homes. The settlements in three separate actions are part of the FTC’s ongoing efforts against scams that target financially distressed consumers.

McLean, VA - July 26, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today announced the appointment of Deborah Jenkins to vice president and national head of Multifamily Underwriting and Credit. In this position, Jenkins is responsible for managing the underwriting and credit approvals of all Multifamily debt investments for Freddie Mac, and managing the underwriting and credit staff at Freddie Mac offices across the country.

July 26, 2010 - (RealEstateRama) -- What: The Environmental and Energy Study Institute (EESI) invites you to a briefing on how energy efficiency legislation can make new homes more affordable

WASHINGTON, D.C. - July 23, 2010 - (RealEstateRama) -- Commerce, Justice, Science (CJS) Appropriations Subcommittee Chairwoman Barbara A. Mikulski (D-Md.) today announced full Senate Appropriations Committee passage of the fiscal year 2011 CJS funding bill, which includes increased funding and resources to track down and prosecute perpetrators of mortgage fraud.

OKLAHOMA CITY, OK - July 22, 2010 - (RealEstateRama) -- A federal grand jury has indicted DERRICK REUBEN SMITH, MICHAEL GIPSON, and TRINA TAHIR on charges of conspiracy, wire fraud, and money laundering in connection with fraudulent mortgages, announce...

Washington, D.C. - June 22, 2010 - (RealEstateRama) -- The Independent Community Bankers of America (ICBA) said in a comment letter to the Treasury Department and Department of Housing and Urban Development that the nation's housing finance system must continue to be sufficiently flexible so it provides a variety of finance options to meet the needs of different consumers, housing types and locations. ICBA outlined its key principles for the reform of the housing finance system that is now under debate.

WASHINGTON, DC - July 22, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that it will launch multiple investigations into the lending practices of certain mortgage lenders to determine if they illegally denied families mortgages because the mother is pregnant or a family member is experiencing a short-term disability. The action follows a report published this week in the New York Times outlining the lending practices of some lenders which might possibly violate the Fair Housing Act.

Livonia, MI - July 22, 2010 - (RealEstateRama) -- One Reverse Mortgage LLC, the nation’s third largest reverse mortgage lender, today announced it will move its Livonia, Michigan, headquarters to downtown Detroit. The company, and 110 team members, will move to the Compuware Building and share space with its sister companies, Quicken Loans Inc., Fathead and In-House Realty. The move is expected to take place sometime late this summer