Mortgage

January 28, 2010 - (RealEstateRama) -- Today the Nationwide Mortgage Licensing System & Registry (NMLS)—a mortgage licensing system operated by state financial regulators, including Idaho—is launching “NMLS Consumer Access.” NMLS Consumer Access is a fully searchable website that allows the public to view information concerning state-licensed mortgage companies, branches, and individuals currently licensed through NMLS

Atlanta, GA - January 28, 2010 - (RealEstateRama) -- On January 25, 2010, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Lenox Financial Mortgage, LLC, mortgage lender’s license number 19100, located at 6 Piedmont Center, Suite 500, 3525 Piedmont Road, Atlanta, Georgia, 30305, as well as its members, Jon M. Shibley and Stefen Shibley,to resolve allegations that they violated the Georgia Residential Mortgage Act and the Georgia Fair Lending Act.The terms of the Consent Order include a series of requirements that Lenox Financial Mortgage, LLC, among other things, shall develop and implement policies, procedures and best practices that will ensure compliance with state law and related Department rules regarding Georgia residential mortgage activity. Lenox Financial Mortgage, LLC shall pay fines and make a contribution to the State Regulatory Registry, LLC to support the Nationwide Mortgage Licensing System.

FRANKFORT, KY - January 26, 2010 - (RealEstateRama) -- Kentucky consumers considering a mortgage now have a new online resource to make sure their lender is licensed.

Atlanta, GA - January 26, 2010 - (RealEstateRama) -- On January 22, 2010, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Contract Asset Management, LLC d/b/a Exclusive Properties located at 2550 Heritage Court, Suite 200, Atlanta, Georgia 30339 became final.This Order to Cease and Desist was issued by the Department after it obtained evidence that Contract Asset Management, LLC d/b/a Exclusive Properties engaged in residential mortgage brokering/lending activities without a license or under an applicable exemption in violation of O.C.G.A. § 7-1-1002.

Providence, RI - January 25, 2010 - (RealEstateRama) -- As Rhode Island and the rest of the nation continue to battle a troubled economy, the federal government is recognizing the important role that Rhode Island Housing and other Housing Finance Agencies (HFAs) throughout the nation are playing in the nation’s recovery efforts.

DAYTON, OH - January 22, 2010 - (RealEstateRama) -- Four participants in an extensive mortgage fraud scheme that affected 210 residential properties including 205 in Montgomery County were sentenced today in federal court by U.S. District Judge Michael R. Barrett.

OLYMPIA, WA - January 25, 2010 - (RealEstateRama) -- The Washington State Department of Financial Institutions (DFI) is pleased to announce a new resource for Washington consumers seeking licensing information on mortgage lenders.

WASHINGTON, D.C. - January 25, 2010 - (RealEstateRama) -- U.S. Rep. Blaine Luetkemeyer (MO-9) is supporting bi-partisan legislation ensuring that certain nonprofits like Habitat for Humanity are protected from troubling mortgage restrictions that could impact the way affordable housing is provided to needy families

LANSING, MI - January 25, 2010 - (RealEstateRama) -- The Office of Financial and Insurance Regulation (OFIR) announced today that 2008 data compiled under the Federal Home Mortgage Disclosure Act are available from the Federal Financial Institutions Examination Council (FFIEC). The data covers mortgage lending transactions throughout the nation at 8,388 financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include, but are not limited to, banks, savings associations, credit unions, and independent mortgage companies

Atlanta, GA - January 25, 2010 - (RealEstateRama) -- On January 20, 2010, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Exclusive Metro Properties, LLC located at 2350 Spring Road #103, Smyrna, Georgia 30080 became final.This Order to Cease and Desist was issued by the Department after it obtained evidence that Exclusive Metro Properties, LLC engaged in residential mortgage brokering/lending activities without a license or under an applicable exemption in violation of O.C.G.A. § 7-1-100

Providence, RI - January 22, 2010 - (RealEstateRama) -- Attorney General Patrick C. Lynch is alerting Rhode Island consumers who qualified for a portion of the $547,000 in foreclosure relief funds resulting from his office’s settlement with Countrywide Financial Corp. that their checks are scheduled to be mailed to them on Feb. 12.

WASHINGTON, DC - January 21, 2010 - (RealEstateRama) -- Dennis G. Sartain of Hilliard, Ohio; and Bonnie Helt, of Columbus, Ohio, pleaded guilty today to conspiring to commit mortgage fraud, money laundering and obstruction of justice, the Justice Department and Internal Revenue Service (IRS)

Charleston, WV - January 19, 2010 - (RealEstateRama) -- Attorney General Darrell McGraw today executed an Assurance of Discontinuance with American Neighborhood Housing Foundation, a Virginia company taking advance fees from West Virginia consumers to obtain loan modifications for consumers’ mortgages.

Atlanta, GA - January 20, 2010 - (RealEstateRama) -- On January 19, 2010, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Roosevelt Mortgage Acquisition Company, located at 1540 Broadway, Suite 1606, New York, New York 10036, became final.This Order to Cease and Desist was issued by the Department after it obtained evidence that Roosevelt Mortgage Acquisition Company engaged in residential mortgage lending activities without a license or under an applicable exemption.

Georgetown-based lender will commit $1.5 million for loan program for veterans. BOSTON, MA - January 19, 2010 - (RealEstateRama) -- MassHousing announced today that Georgetown Savings Bank is now an approved lender of MassHousing’s A Home for the Brave loan program for Massachusetts veterans.

WASHINGTON, DC - January 18, 2010 - (RealEstateRama) -- The U.S. Department of Labor today announced a $1,661,173 grant to assist about 600 workers affected by layoffs at the Taylor, Bean and Whitaker Mortgage Corp. and its subsidiary companies in north/central Florida.

CINCINNATI, OH - January 14, 2010 - (RealEstateRama) -- A federal grand jury here has indicted six members of a family and one of their employees charging them with operating a mortgage fraud conspiracy between 2004 and 2009.

Washington, D.C. - January 13, 2010 - (RealEstateRama) -- Congresswoman Dina Titus released the following statement today on news reports that Wall Street banks are expected to again give out large bonuses this year.

Juneau, AKL - January 13, 2010 - (RealEstateRama) -- Governor Sean Parnell today transmitted legislation to renew the Veterans Mortgage Loan program. If passed by the Legislature, voters in the 2010 general election would be asked to approve $800 million of state-guaranteed bonds. The bonds would be issued by the Alaska Housing Finance Corporation for the purchase of mortgage loans made to qualifying military veterans.

Pittsburgh, PA - January 8, 2010 - (RealEstateRama) -- Acting United States Attorney Robert S. Cessar announced today, January 8, 2010, that Robert Danenberg, a resident of Pittsburgh, Pennsylvania, pleaded guilty in federal court to a charge of Wire Fraud Conspiracy in connection with a mortgage fraud scheme.

Providence, RI - January 6, 2010 - (RealEstateRama) -- Homeowners facing foreclosure are often desperate for help, but don’t know where to turn.

WASHINGTON, DC - January 5, 2010 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to counties in Alabama and provide support to homeowners and low-income renters forced from their homes following last month’s severe storms and flooding.

WASHINGTON, DC - December 29, 2009 - (RealEstateRama) -- In an effort to bring much needed assistance to Nevada homeowners who are struggling with their mortgages, Nevada Senator Harry Reid recently sent a letter to Bank of America urging the bank to direct more resources toward Nevada.

CHICAGO, IL - December 30, 2009 - (RealEstateRama) -- The Illinois Department of Financial and Professional Regulation (IDFPR) announced today that starting January 4, 2010 mortgage brokers and mortgage bankers will use the Nationwide Mortgage Licensing System (NMLS) for license applications and renewals. Loan originators will also begin transitioning onto the NMLS for their new individual licensing credentials required in 2010. The national data base ensures that any mortgage loan professionals moving to Illinois will be able to demonstrate competency and a record clear of disciplinary actions in any other state in the nation.

Kansas City, MO - December 29, 2009 - (RealEstateRama) -- Even in the face of a challenging economic environment, Missouri Housing Development Commission (MHDC) continues to provide quality affordable housing to the low- and moderate-income residents of Missouri. In addition, due to innovative programs and partnerships, MHDC has been able to continue its lending programs for first-time homebuyers with mortgage revenue bond financings and a commitment to homebuyers for assistance with down payment and closing costs.

BEDFORD, N.H. - December 28, 2009 - (RealEstateRama) -- New Hampshire Housing Finance Authority has elected to participate in the U.S. Treasury’s New Issue Bond Program (NIBP).

RALEIGH, NC - December 22, 2009 - (RealEstateRama) -- Gov. Bev Perdue announced today that Zenta Mortgage Services will expand its Charlotte presence significantly, creating 1,002 jobs over the next five years and investing $2.19 million.

Morgan Hill, CA - December 23, 2009 - (RealEstateRama) -- After much speculation by the general populace (and the real estate industry) and much consternation by Congress, the much-anticipated extension of the First-Time Homebuyer Tax Credit has been passed.

Phoenix, AZ - December 23, 2009 - (RealEstateRama) -- Long-term mortgage rates fell to a new low in December, according to the Phoenix Business Journal, with a 30-year fixed-rate mortgage averaging 4.71 percent, the lowest rate since at least 1971, when Freddie Mac started keeping track. While this is excellent news, it is important for investors to remember that much like credit cards, an interest rate is heavily dependent on the borrower's credit history. According to Ron Kuhn, Senior Mortgage Planner at AmeriFirst Financial, investors often mistakenly believe that all interest rates are equal from borrower to borrower; however, it is much more involved that just a current rate quote. Most are locking in rates that fall between 4.875% and 5.125% due to factors such as loan size, property type, Loan to Value (LTV) and credit scores

Boise, ID - December 23, 2009 - (RealEstateRama) -- Twelve Idaho homeowners who paid a Meridian man, Paul Clarence Aughtry, IV, for mortgage loan modifications will receive refunds totaling $12,400 as a result of settlement agreements with Attorney General Lawrence Wasden and the Idaho Department of Finance. As a result of the actions, Aughtry is prohibited from engaging in loan modification activities in Idaho.