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25 Jun 2008, 9:09 pm
A review of recent federal indictments provides a overview of some of the types of conduct in the mortgage origination process that may be regarded as criminal.Materially false and fraudulent mortgage loan applications and related documents such as the uniform residential loan application False employment verificationFalse verification of income and funds on depositFalse rent verificationFalse assertions such as living in the property as a primary residence False… [read post]
9 Mar 2009, 11:05 am
Judicial modification of residential mortgages in chapter 13 bankruptcy is part of H.R. 1106, which passed in the U.S. [read post]
13 Jun 2013, 5:00 am
Based in the Chicago office, she can be reached at 312.253.9622 and cartus@weltman.com. [1] Section 15-1504.1 of the Illinois Mortgage Foreclosure Law (735 ILCS 5/15-1504.1). [2] Illinois Governor Quinn press release dated February 8, 2013. [read post]
11 May 2012, 7:00 am
The CFPB’s focus on mortgage reform is again in the spotlight with the CFPB’s announcement yesterday of some of its plans for implementing the residential mortgage loan originator compensation provisions in Title XIV of the Dodd-Frank Act. [read post]
30 Mar 2010, 7:45 am
Jong Shin, 50, Bayside, New York, the alleged mastermind of a mortgage fraud and money laundering scheme involving residential properties in Atlantic City, New Jersey, had an initial appearance in connection with a two-count Indictment. [read post]
13 Nov 2008, 1:30 pm
Jarvis Fontenette, 37, an account executive for various lenders, has pleaded guilty to conspiring to commit mail fraud and wire fraud as part of a scheme to defraud Houston, Texas area residential mortgage lenders. [read post]
13 Aug 2010, 9:24 am
In the news these days are fairly pessimistic news about residential foreclosures. [read post]
16 Apr 2010, 12:40 pm
The big news this afternoon is the SEC complaint filed in S.D.N.Y. raising serious allegations about Goldman Sachs in structuring and marketing a synthetic CDO that hinged on the performance of subprime residential mortgage-backed securities. [read post]
9 Apr 2020, 2:36 pm
” One thing residential mortgage loan originators and servicers believe is clear, however, is that they are being unfairly squeezed from several directions during this time of especially fragile economic conditions. [read post]
26 Feb 2010, 1:34 am
Shaheid Bilai, 33, Lawrenceville, Georgia, Rhonda Payne, 36, Queens, New York and Richard Britt, 48, McDonough, Georgia have been indicted on charges stemming from a sub-prime mortgage fraud scheme involving $3 million worth of mortgages on residential properties in and around Orange and East Orange, New Jersey. [read post]
30 Mar 2012, 2:58 pm
Recently, Utah enacted several bills to amend the state’s mortgage licensing and servicing requirements, and to support enforcement of mortgage fraud. [read post]
21 Mar 2012, 9:10 pm
Anderson (California Polytechnic State University), Robbing Peter to Pay for Paul's Residential Real Estate Speculation: The Injustice of Not Taxing Forgiven Mortgage Debt, 36 Seton Hall Legis. [read post]
16 Jul 2010, 4:33 pm
As an alternative, the information required for registration of the property can be provided to the Mortgage Electronic Registration System (MERS), in which case no registration fee will be payable. [read post]
29 Sep 2013, 7:46 pm
Ten defendants, including five licensed loan originators, were indicted for allegedly participating in a scheme to fraudulently obtain approximately 52 residential mortgage loans totaling at least $14.5 million from various lenders. [read post]
21 Oct 2013, 4:00 am
However, in 2007, as a direct result of the meltdown in the mortgage market and the epidemic of pending foreclosures on residential properties that were now worth less than the outstanding balance on the mortgages, Congress passed the Mortgage Forgiveness Debt Relief Act. [read post]
29 Jun 2011, 6:57 am
The securities, called first-lien residential mortgage-backed securitization, were issued by the BOA unit Countrywide Financial Corporation [corporate website], which it purchased [AP report] for $4 billion in 2008. [read post]
17 Nov 2010, 11:11 am
Attorney's Office announced that a former mortgage broker and his purported co-conspirator in a mortgage fraud scheme were arrested today on a criminal Complaint alleging that they conspired to defraud various mortgage lenders of over $7 million by conducting at least 50 fraudulent real estate transactions involving residential properties in New Jersey. [read post]
15 Dec 2014, 7:38 pm
The LexisNexis Annual Mortgage Fraud Report differs from other studies on the topic, as it seeks to provide information on the composition of proven residential mortgage fraud and misrepresentation by mortgage industry professionals. [read post]
18 Nov 2008, 10:12 am
Shawn Brennan, 41, a Freehold, New Jersey mortgage broker, was sentenced to 12 months of home confinement as part of a five-year term of probation for his guilty plea to a charge of bank fraud for submitting fraudulent documents in support of a $367,500 residential mortgage loan application. [read post]
23 Feb 2009, 8:26 am
The proposed law eliminates the ban on restructuring primary residential mortgages to help people save their homes from foreclosure. [read post]
