Mortgage

WASHINTON D.C. - March 25, 2010 - (RealEstateRama) -- Congressman Charlie Melancon (LA-03) voted this week in support of a series of bills to provide more opportunity to U.S. veterans, particularly those who are looking for jobs or are homeless. The measures would increase on-the-job training opportunities for returning veterans, prevent mortgage lenders from foreclosing on a veteran’s home after their service, and make sure payments for disabled veterans keep pace with the cost of living. Also included in the series was legislation to strengthen the U.S. Department of Veterans Affairs’ work to fight and end homelessness. An estimated 131,000 U.S. veterans are homeless nationwide

LANSING, MI - March 25, 2010 - (RealEstateRama) -- The Office of Financial and Insurance Regulation (OFIR), the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) today announced a settlement with CitiFinancial regarding the firm’s failure to report 91,127 residential mortgage loans, including more than 4,000 in Michigan, to the federal government as required by the Home Mortgage Disclosure Act (HMDA). The settlement requires CitiFinancial to pay a $63,457 penalty to the State of Michigan, which will be put into the Mortgage Brokers, Lenders, and Servicers Licensing Act Fund and used to support OFIR’s mortgage examination and licensing programs

Phoenix, AZ - March 24, 2010 - (RealEstateRama) -- Attorney General Terry Goddard said today he will join U.S. Attorney General Eric Holder and other members of the recently formed Financial Fraud Enforcement Task Force at a Mortgage Fraud Summit meeting Thursday in Phoenix

JACKSONVILLE, FL - March 24, 2010 - (RealEstateRama) -- United States Attorney A. Brian Albritton and James Casey, Special Agent in Charge, Federal Bureau of Investigation, announce today that, following a two-week trial, a federal jury has found Marshall Craig Scott (age 59, of Jacksonville) guilty of commit mail fraud, wire fraud, and conspiracy to commit mail fraud. Scott faces a maximum penalty of 145 years in federal prison. His sentencing hearing is scheduled for June 24, 2010. Scott was indicted on October 29, 2009.

$18 million in relief for Massachusetts homeowners; $4.1 million payment to Commonwealth. BOSTON, MA - March 24, 2010 - (RealEstateRama) -- As part of her office’s ongoing initiative to combat predatory lending practices that contributed to our nation’s economic crisis, Attorney General Martha Coakley today reached a significant settlement with Countrywide Financial Corporation (Countrywide) that will provide an estimated $18 million in loan modifications for Massachusetts homeowners, $3 billion in loan modifications for homeowners across the country, and a $4.1 million payment to the Commonwealth. Countrywide is now owned by Bank of America.The settlement, filed today in Suffolk Superior Court, expands an earlier agreement that Countrywide reached with 43 other state Attorneys General and the District of Columbia in 2008 for loan modification for certain delinquent borrowers and builds on standards set forth in the Home Affordable Modification Program (HAMP) administered by the United States Treasury

NEW YORK, NY - March 22, 2010 - (RealEstateRama) -- Chase announced today that it will provide additional help to struggling homeowners by joining the second-lien program of the federal government's Home Affordable Modification Program.

ORLANDO, FL - March 18, 2010 - (RealEstateRama) -- U.S. Attorney A. Brian Albritton announces that U.S. District Judge G. Kendall Sharp today sentenced Mark J. Moncher (age 53, of Orlando) to 57 months in federal prison for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme. The court also ordered Moncher to pay more than $1.9 million in restitution. Moncher had pleaded guilty on December 29, 2009.

Phoenix, AZ - March 17, 2010 - (RealEstateRama) -- Attorney General Terry Goddard today announced a $120,000 settlement with several defendants for their roles in a real estate scheme in Pima County that deceived novice investors, financial lenders and unqualified home buyers

PLANO, TX - March 16, 2010 - (RealEstateRama) -- U.S. Attorney John M. Bales announced today that 40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas.

PHOENIX, AZ - March 16, 2010 - (RealEstateRama) -- Mario G. Bernadel, 51, a citizen of Haiti, was sentenced today to nearly 17 years in prison for his conviction on multiple counts for leading a mortgage fraud scheme in Phoenix that cost banks over $9 million.

WASHINGTON, D.C. - March 15, 2010 - (RealEstateRama) -- In a letter to Senate Banking Committee Chairman Chris Dodd (D-Conn.), Congressman Chaka Fattah (D-PA) asked that new Senate regulations on the financial services industry include Fattah’s mortgage relief provisions that are contained in H.R. 4173, the Wall Street and Consumer Protection Act of 2009.

March 15, 2010 - (RealEstateRama) -- Bureau of Financial Institutions Superintendent Lloyd P. LaFountain, III announced this week that fourth quarter 2009 data submitted by Maine-chartered banks and credit unions shows a continuing increase in home foreclosures in Maine. In general, foreclosure activity at Maine banks and credit unions appears to be lower than in many other states and it does not pose a threat to the stability of Maine-chartered financial institutions.

MIAMI, FL - March 15, 2010 - (RealEstateRama) -- Attorney General Bill McCollum and the Florida Interagency Mortgage Task Force today hosted a community forum in Miami to discuss the housing crisis. The event was designed to present a comprehensive approach for dealing with housing-related issues and provide information and assistance to consumers. Participating agencies included state agencies, law enforcement and regulatory authorities

VOORHEES, N.J. - March 11, 2010 - (RealEstateRama) -- Voorhees Township Mayor Michael Mignogna today joined representatives of the New Jersey Housing and Mortgage Finance Agency (HMFA) at the Community Center at Lions Lake, 101 Dutchtown Road, to announce that the township is the newest member of the Live Where You Work program.

LAS VEGAS, NV - March 10, 2010 - (RealEstateRama) -- A man who owned and operated numerous now-defunct Nevada investment companies, and two of his former employees, were indicted by the federal grand jury today on mortgage fraud charges, announced Daniel G. Bogden, United States Attorney for the District of Nevada.

March 4, 2010 - (RealEstateRama) -- A bill by State Senator Andrew J. McDonald (D-Stamford) that is designed to make banks and other financial institutions work more closely with homeowners during foreclosure proceedings received a strong outpouring of support today during its public hearing before the Judiciary Committee

Atlanta, GA - March 3, 2010 - (RealEstateRama) -- On February 26, 2010, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance ("Department") to Nathan Livingston d/b/a Loan Help Solutions d/b/a www.loanhelpsolutions.net d/b/a Mortgage Help Solutions located at 160 Clairemont Avenue, Suite 200, Decatur, Georgia 30030 became final

Washington, DC - March 1, 2010 - (RealEstateRama) -- Michael Bennet, U.S. Senator for Colorado, today sent a letter to the U.S. Treasury Department encouraging them to forbid mortgage providers from initiating or continuing the foreclosure process until they determine whether a homeowner is eligible for mortgage loan assistance through the Home Affordable Modification Program (HAMP). The Treasury is reportedly considering this change as part of its loan modification program

FRANKFORT, KY - March 1, 2010 - (RealEstateRama) -- The Kentucky Department of Financial Institutions (DFI) has been recognized as one of the nation’s leading mortgage regulators, as Gov. Steve Beshear accepted DFI’s certificate of mortgage accreditation.

Sanford, ME - March 1, 2010 - (RealEstateRama) -- Reliant Mortgage Company, LLC is proud to announce the opening of its newest branch office located at 909B Main Street (The Garnsey Insurance Building) in downtown Sanford, ME.

RICHMOND, VA - February 24, 2010 - (RealEstateRama) -- Robert S. Capehart, 55, of Richmond, Va., pled guilty to committing a $2.3 million mail fraud on banks and investors over a six year period.

HUNTSVILLE, AL - February 25, 2010 - (RealEstateRama) -- A 56-year-old Rainbow City woman pleaded guilty Wednesday in federal court to charges of bank and mortgage fraud that totaled more than $500,000, U.S. Attorney Joyce White Vance and FBI Special Agent in Charge Patrick Maley announced.

New York, NY- February 24, 2010 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, JOSEPH M. DEMAREST JR., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation ("FBI"),

LANSING, MI - February 24, 2010 - (RealEstateRama) -- The Office of Financial and Insurance Regulation (OFIR) has shut down another operation claiming to be a Detroit-based mortgage company. This time the agency ordered an operation called “Decoster Financial Group” to cease and desist from doing business. OFIR believes that Decoster, through its website, http://www.decosterfinancialgroup.com, was posing as a legitimate mortgage company in an attempt to steal consumers’ money and identity. The fraudulent company was encouraging customers to apply for loans by providing personal information including social security and financial account numbers. Earlier this month, OFIR shut down a similar Detroit operation referred to as “Kenneth and Doyle Financial” and has put an end to a number of these fraudulent financial companies in the last year

WASHINGTON, DC - February 23, 2010 - (RealEstateRama) -- Kendrick Meek today released the following statement regarding President Obama's decision to use funding from the Troubled Asset Relief Program (TARP) to support Florida homeowners and stabilize the housing market

GLOUCESTER CITY, N.J. - February 19, 2010 - (RealEstateRama) -- Gloucester City Mayor William James today joined representatives of the New Jersey Housing and Mortgage Finance Agency (HMFA) at the Community Center, 230 Nicholson Road, to announce that the City is the newest member of the Live Where You Work program.

Pittsburgh, PA - February 16, 2010 - (RealEstateRama) -- Acting United States Attorney Robert S. Cessar announced today, February 16, 2010, that Jason Jester, a resident of Pittsburgh, Pennsylvania, has been sentenced in federal court in Pittsburgh to five years of probation, including four months of home detention, on his conviction of wire fraud conspiracy in connection with a mortgage fraud scheme.

BEDFORD, N.H. - February 19, 2010 - (RealEstateRama) -- In these tough economic times, home owners may find themselves struggling just to make ends meet.

Washington, D.C. - February 22, 2010 - (RealEstateRama) -- The Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators announced today that the Iowa Division of Banking has achieved accreditation under the joint CSBS-AARMR Mortgage Supervision Accreditation Program.

BEDFORD, N.H. - February 17, 2010 - (RealEstateRama) -- New Hampshire Housing Finance Authority recently named its 2009 top 10 participating lenders. Altogether, these lenders closed 80% of the loans extended to low- and moderate-income first-time home buyers through the Authority’s Single Family Mortgage Program.