Search for: "Federal Home Loan Mortgage Company"
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22 Dec 2011, 10:45 am
The SEC has charged six former top executives of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud, alleging they knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans.Fannie Mae and Freddie Mac each entered into a Non-Prosecution Agreement… [read post]
6 Oct 2020, 1:49 pm
TILA covers credit loans, including mortgages, home equity loans, and credit cards. [read post]
9 Apr 2009, 4:27 am
The Federal Trade Commission announced on April 6, 2009 a crackdown on fraud and deception by mortgage modification and home foreclosure rescue companies. [read post]
19 Aug 2021, 8:42 am
When everything shut down last spring, the U.S. government introduced a program to put mortgage payments on pause for borrowers who have certain types of federally-backed loans (FHA, Fannie/Freddie, VA, USDA). [read post]
12 Sep 2013, 12:58 pm
On August 7, Wells Fargo Bank, Deutsche Bank National Trust Company, and Deutsche Bank Trust Company Americas, "as trustees for hundreds of residential mortgage-backed securitization . . . trusts" filed a federal lawsuit in the Northern District of California against the City of Richmond and Mortgage Resolution Partners. [read post]
8 May 2009, 2:25 pm
The FTC also recently settled charges against two individuals that they violated federal law and a previous court order by luring homeowners into high-cost, short term loans secured by an additional mortgage on their homes. [read post]
9 Jan 2015, 9:19 am
This scheme resulted in losses to mortgage lenders, including The Federal National Mortgage Association (Fannie Mae) and The Federal Home Loan Mortgage Corporation (Freddie Mac). [read post]
20 Jan 2011, 11:27 am
The National Journal reports that the Federal Deposit Insurance Corp., (FDIC) has accused the banking and mortgage-lending industries of studied incompetence, saying that the nation's biggest mortgage-servicing companies helped turn the housing bust into a full-blown foreclosure crisis, "The biggest adversary has been inertia in the servicing and foreclosure practices applied to problem loans," Sheila Bair head of the FDIC said. [read post]
20 Nov 2012, 2:05 pm
Five more banks and mortgage companies have agreed to pay the federal government a total of $116.7 million to settle a whistleblower lawsuit that alleged the banks illegally charged veterans hidden fees on refinanced home loans backed by the Veterans Administration. [read post]
7 Jul 2015, 10:44 am
Buyers don’t have to use a specific lender, and the buyer can apply for a home loan with several different mortgage lenders. [read post]
19 Jan 2011, 5:30 am
News outlets are reporting that the Federal Deposit Insurance Corporation (FDIC) is considering implementing stricter requirements for those mortgage-servicing companies who also own the second mortgage on the homes they service. [read post]
17 Aug 2009, 6:04 am
The company is the 12th-largest U.S. mortgage originator and makes most of its home loans through independent brokers and smaller mortgage banks. [read post]
2 Jul 2009, 5:52 am
The latest from the world of law and bad mortgages: The Justice Department reported on Wednesday that in a deferred-prosecution agreement, Beazer Homes will pay up to $53 million to settle mortgage fraud charges related to federally insured mortgage loans the company made to buyers of its homes. [read post]
25 May 2009, 6:44 am
In both cases, the federal government has also pledged to help remove second mortgages or other liens. [read post]
23 Sep 2014, 5:05 pm
The scheme involved Brown buying homes at inflated prices, obtaining mortgage loans by fraud at the inflated amounts, and receiving kickbacks from the excess loan proceeds without the lenders’ knowledge. [read post]
2 Jun 2019, 7:42 am
If the lender is a federally insured institution, federal charges can apply. [read post]
11 Apr 2022, 11:28 am
A Connecticut federal district court has refused to dismiss claims filed by the CFPB against a mortgage company and three of its principals for alleged Truth in Lending Act (TILA), Mortgage Act and Practice (MAP) Rule, and Consumer Financial Protection Act (CFPA) violations. [read post]
6 May 2011, 2:50 pm
It continued issuing FHA-guaranteed home loans to consumers, and it securitized and marketed those mortgages to investors. [read post]
21 Nov 2011, 1:15 pm
One of the nation’s largest privately held mortgage companies, Allied Home Mortgage Corporation (Allied), and two of its top executives, CEO Jim Hodge and Executive VP Jeanne Stell, are facing scrutiny for providing false loan certifications to the Department of Housing and Urban Development (HUD). [read post]
1 Dec 2011, 6:39 am
In November 2009, multiple indictments were returned by a federal grand jury against thirteen defendants, including Wilson, on a variety of mortgage fraud charges arising out of the collapse of Desert Sun Development (“DSD”), a commercial and residential construction company headquartered in Bend, Oregon. [read post]
