Mortgage

BROCKTON, MA - July 1, 2010 - (RealEstateRama) -- A Marshfield woman has been indicted in connection with allegedly trying to delay or avoid foreclosure of a home mortgage by falsely reporting the death of a child to her mortgage company, and thereafter knowingly falsifying information in an affidavit filed in Brockton Superior Court, Attorney General Martha Coakley announced.A Plymouth County Grand Jury returned indictments against Donna Larson, age 52, on charges of Attempted Larceny and Perjury

ANNAPOLIS, MD - July 1, 2010 - (RealEstateRama) -- Today, Maryland’s new Foreclosure Mediation law will take effect, giving mortgage challenged homeowners another tool to help them save their homes. The program aims to give homeowners more time and a better opportunity to work with their lender, help qualified borrowers get relief through a loan modification and provide an independent party to help both sides come to a resolution

McLean, VA - July 1, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.58 percent with an average 0.7 point for the week ending July 1, 2010, down from last week when it averaged 4.69 percent. Last year at this time, the 30-year FRM averaged 5.32 percent

Washington, DC - June 30, 2010 - (RealEstateRama) -- Early this morning, the Conference Committee passed the Financial Regulatory Reform Bill. John Taylor, NCRC’s president and CEO, made this statement regarding its passing:

WASHINGTON, D.C. - June 30, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Commercial Real Estate/Multifamily Finance Quarterly Data Book for the first quarter of 2010. The analysis shows that commercial real estate fundamentals are beginning to show signs of stabilization, though property and mortgage performance remains weak. As economic growth continues, the impact on commercial real estate markets should broaden and reach rents, vacancies and delinquencies

WASHINGTON, D.C. - June 30, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 25, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 8.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 8.3 percent compared with the previous week

HOUSTON, TX - June 29, 2010 - (RealEstateRama) -- Adrian Levale Cole has pleaded guilty to committing wire fraud and false representation of a Social Security number arising from a $10 million mortgage fraud scheme, United States Attorney José Angel Moreno announced today.

TRENTON, NJ - June 30, 2010 - (RealEstateRama) -- Attorney General Paula T. Dow announced today that a New Jersey loan modification company and its owners have agreed to a judgment of $5,051,253 to settle civil charges they defrauded homeowners who sought help in avoiding mortgage foreclosure.

AUSTIN, TX - June 29, 2010 - (RealEstateRama) -- Recognizing the importance of its lender network in meeting its goal of increasing homeownership rates among Texans of all income levels, the Texas Department of Housing and Community Affairs (TDHCA) today announced its “Lenders of the Year” and “Loan Officer of the Year” awards for their participation in and support of TDHCA’s homeownership programs

Atlanta, GA - June 29, 2010 - (RealEstateRama) -- On June 22, 2010, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with eMortgage Group, LLC, License Number 22491, located at 125 Townpark Drive, Suite 300, Kennesaw, Georgia 30144and its owner, Erica Hill, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules

AUSTIN, TX - June 28, 2010 - (RealEstateRama) -- Recognizing the importance of its lender network in meeting its goal of increasing homeownership rates among Texans of all income levels, the Texas Department of Housing and Community Affairs (TDHCA) today announced its “Lenders of the Year” and “Loan Officer of the Year” awards for their participation in and support of TDHCA’s homeownership programs.

WASHINGTON, DC - June 29, 2010 - (RealEstateRama) -- Independent mortgage bankers and subsidiaries made an average profit of $1,135 on each loan they originated in 2009, compared to $305 per loan in 2008, according to the Mortgage Bankers Association (MBA)’s Annual 2009 Mortgage Bankers Production Survey released today

Washington, DC - June 25, 2010 - (RealEstateRama) -- Congressman Chaka Fattah (D-PA) is thanking his colleagues for their diligence in working to ensure the nation’s unemployed are able to remain in their homes.

Washington, DC - June 28, 2010 - (RealEstateRama) -- Commissioner Gennet Purcell, Esq., of the DC Department of Insurance, Securities and Banking (DISB) today announced the indictment of Renaldo D. Gillis and Afolasade Orekoya for their leadership in an extensive mortgage fraud “flipping” scheme in the District of Columbia after a joint investigation with federal law enforcement

WASHINGTON, D.C. - June 28, 2010 - (RealEstateRama) -- Mortgage Bankers Association (MBA) believes the financial regulatory reform legislation, voted out of conference today, while still needing improvement during the regulatory process, could have been much worse were it not for the efforts of MBA and its members.

Washington, DC - June 25, 2010 - (RealEstateRama) --Congressmen Jeff Miller (R-FL) and Adam Putnam (R-FL) today introduced legislation to provide mortgage forbearance to homeowners in the areas affected by the BP Deepwater Horizon oil leak in the Gulf of Mexico.

BOSTON, MA - June 25, 2010 - (RealEstateRama) -- Investment giant Morgan Stanley (Morgan) will pay $102 million to affected Massachusetts homeowners and the Commonwealth following an investigation by the Attorney General’s Office into Morgan’s role in the securitization and financing of Massachusetts subprime loans, Attorney General Martha Coakley announced today.

WASHINGTON, DC - June 25, 2010 - (RealEstateRama) -- The U.S. Small Business Administration today announced the first nine loan pool originators authorized by the agency to assemble and sell pools of 504 program first mortgage loans, a major step to jump-starting a secondary market that should make fixed asset financing more widely available for small businesses.

McLean, VA - June 25, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) today issued the company's Monthly Volume Summary for May 2010. The summary, available on the company's Web site at www.FreddieMac.com/investors/volsum, provides information on Freddie Mac's mortgage-related portfolios, securities issuance, risk management and delinquencies, including data on seriously delinquent mortgage loans in related mortgage Participation Certificate (PC) pools.

Washington, DC - June 24, 2010 - (RealEstateRama) -- Congressman Dennis Kucinich (D-OH) today continued his relentless efforts on behalf of Cleveland area homeowners during a hearing examining the efficacy of the Administration’s centerpiece program to assist borrowers seeking modifications of their mortgages.

WASHINGTON, D.C. - June 24, 2010 - (RealEstateRama) -- With the support and backing of area Congressman Jack Kingston (R-GA), the U.S. House of Representatives today voted to extend the National Flood Insurance Program through September 30, 2010. The program, which lapsed on June 1, allows property and business owners as well as renters to purchase insurance against flood losses.

McLean, VA - June 24, 2010 - (RealEstateRama) -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.69 percent with an average 0.7 point for the week ending June 24, 2010, down from last week when it averaged 4.75 percent. Last year at this time, the 30-year FRM averaged 5.42 percent

McLean, VA - June 24, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) announced today that it will not issue a Reference Notes® security on June 24, 2010. The company’s 2010 Reference Notes calendar designates dates that it may use to announce the issuance of Reference Notes securities.

Fairfax, VA - June 23, 2010 - (RealEstateRama) -- NAMB – The Association of Mortgage Professionals recognizes National Homeownership Month as an important time for the American economy and American consumer as the housing industry continues its recovery

WASHINGTON, D.C. - June 23, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 18, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6.0 percent compared with the previous week.The Refinance Index decreased 7.3 percent from the previous week and the seasonally adjusted Purchase Index decreased 1.2 percent from one week earlier. The unadjusted Purchase Index decreased 2.3 percent compared with the previous week and was 36.8 percent lower than the same week one year ago

McLean, VA - June 23, 2010 - (RealEstateRama) -- Freddie Mac (NYSE: FRE) announces credit enhancements of more than $31 million in bonds issued by two housing finance agencies (HFAs) using the Obama Administration's New Issue Bond Program (NIBP) that support the development or renovation of affordable multifamily properties. Working with Freddie Mac, Prudential Mortgage Capital Company originated the only multifamily mortgages to date under NIBP for a property in Newnan, Georgia, and three properties in Washington, D.C., thus keeping 332 apartments affordable to low-income tenants.

June 22, 2010 - (RealEstateRama) -- Quicken Loans Inc., the nation’s largest online retail mortgage lender, today announced it has placed seventh in Computerworld Magazine’s “100 Best Places to Work in Technology” study. This is the sixth consecutive year Quicken Loans is listed in the magazine’s annual survey, ranking among the top-15 each year.

Silver Spring, MD - June 22, 2010 - (RealEstateRama) -- Many older Americans find themselves house rich and cash poor. They own their home, or at least have significant equity in it, yet struggle to make ends meet each month. They could sell their home, but are not inclined to move and leave their memories behind.

Washington, DC - June 22, 2010 - (RealEstateRama) -- The level of commercial/multifamily mortgage debt outstanding decreased in the first quarter, to $3.31 trillion, according to the Mortgage Bankers Association’s (MBA) analysis of the Federal Reserve Board Flow of Funds data

PHILADELPHIA, PA - June 21, 2010 - (RealEstateRama) -- Frank J. Dattilo, 64, of Holland, PA, pleaded guilty today to two counts of mail fraud in connection with a scheme to defraud mortgage lenders and enrich himself. Dattilo was the owner and operator of the mortgage brokerage firm Provident Financial Group (“PFG”), which was located in Bensalem, PA.