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4 Apr 2012, 7:14 am by Ryan Blay
Now we have news of another suit by the Federal Reserve, this time against Saxon Mortgage Services, a company under the Morgan Stanley umbrella (yes, another major Wall Street Firm). [read post]
26 Mar 2011, 11:02 am
The Florida-Times Union recently reported on the case of Edward Rukab, who sought help from Bank of America through HAMP, the Home Affordable Modification Program sponsored by the federal government. [read post]
13 Feb 2014, 2:00 pm by Michael Wasserman
This offers some wonderful convenience and efficiencies in an otherwise inconvenient, aggravating and grossly inefficient process.FHA joins The Federal Home Loan Mortgage Corporation (FHLMC) which already allows e-signature on initial loan documents.Plainly, there are a great many documents that must be generated to apply for, process, and document residential mortgage loans. [read post]
1 May 2012, 8:54 am
Nadin Samnang, 29, Ashburn, Virginia, has been convicted by a federal jury for his role in fraudulent mortgage loan transactions involving at least 25 homes in Northern Virginia and more than $7 million in losses to lenders. [read post]
25 Nov 2008, 2:26 pm
This is very good news: In addition to consumer spending, the Fed announced it would buy up to $100 billion in mortgages held by Fannie Mae, Freddie Mac and the Federal Home Loan Bank in an effort increase the flow... [read post]
26 May 2024, 11:31 pm by Yosi Yahoudai
Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve’s interest rate policy and the moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans. [read post]
16 Sep 2020, 8:01 am by William S. Wilson
These policies were in place from 2010 and lasted until Bank of America changed their policy for mortgages in 2016 and for home equity loans in 2017. [read post]
3 Nov 2011, 7:28 pm
Countrywide Home Loans, L.V. and Yvette Crawford sued their mortgage servicer and, originally, a wealth of other people over their foreclosure and eviction from their Indiana home. [read post]
31 Jul 2009, 6:32 am
In every loan modification case, we work hard to get clients a loan modification that actually lowers their monthly mortgage payment, allowing them to stay in their homes for the long term. [read post]
23 Feb 2012, 8:37 am by admin
., the nation’s third-largest bank, agreed to pay $158.3 million to settle claims that it defrauded the federal government by misleading the government into insuring high-risk home mortgages. [read post]
7 Apr 2010, 10:49 am by Alan White
Once upon a time, banks and thrifts served the important function of intermediating savings deposits and home mortgage loans. [read post]
6 Nov 2013, 7:17 am by Allison Tussey
Edwards and others involved would sell low-end houses to purchasers unable to qualify for mortgage loans. [read post]
11 Jul 2011, 3:15 pm by Ilona Bray
(Most loans are federally backed — and those that aren’t become so-called “jumbo loans,” offered at higher rates and requiring higher down payments.) [read post]
13 Feb 2012, 2:28 pm by JinAh Lee
The settlement money will be allocated as follows: $10 billion to principal reduction $3 billion to underwater mortgage refinancing $7 billion for other mortgage relief, such as forbearance $1.5 billion for cash payments of $2,000 to an estimated 750,000 borrowers who lost their homes to foreclosure from January 2008 through the end of 2011, and $5 billion to participating states and the federal government. [read post]
20 Apr 2009, 4:59 pm
One problem was that Ameriquest, and mortgage lenders like it, were not banks or savings & loans -- and thus, they were not subject to federal banking laws. [read post]
6 Aug 2009, 11:18 am
Only a fraction of eligible homeowners have been able to modify their loans under the federal foreclosure prevention plan, the Los Angeles Times reported August 5. [read post]
8 Dec 2011, 6:59 am by McNabb Associates, P.C.
Smith, 42, Hopewell, who was employed at a company known as Platinum Mortgage to arrange for and broker loans for Deborah Kistner and Ennis. [read post]
2 Mar 2010, 1:27 am by staff@mortgagefraudblog.com
McGougan, 41, Bethune, South Carolina, pled guilty in federal court to conspiracy to falsify mortgage loan applications, a violation of Title 18, United States Code, Section 371. [read post]
4 Dec 2017, 2:34 pm by William Cavanagh
  On November 28, 2017, the Federal Housing Finance Agency (“FHFA“) announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. [read post]
22 Jun 2020, 5:00 am by Linda Ershow-Levenberg
These Home Equity Conversion mortgages (HECM for short) need not be repaid until the homeowner dies or vacates the premises. [read post]