On June 13, NRMLA President and CEO Peter Bell submitted the following statement to USA Today in response to the investigative series of articles on HECM foreclosures written by reporters Nick Penzenstadler and Jeff Kelly Lowenstein.
In East Bay real estate terminology, short sales refer to the house being sold lesser than the mortgage owed by the seller. The house will only be for short sale with the lender’s approval. It is a tedious process which requires a lot of paper works and the decision might take a year.
Justice Department Obtains $750,000 From PHH Mortgage Corp. for Unlawfully Foreclosing on Servicemembers’ Homes
The Justice Department today announced that PHH Mortgage Corporation (PHH) has agreed to pay $750,000 to six servicemembers to resolve allegations that it violated
The U.S. Department of Housing and Urban Development (HUD) today announced it will speed federal disaster assistance to the State of California and provide support to homeowners and low-income renters forced from their homes in areas affected by wildfires
Real estate investor Avi Stern pleaded guilty today in West Palm Beach, in connection with an ongoing investigation into bid rigging at online public foreclosure auctions in Florida, the Department of Justice announced. Stern is the third real estate investor to plead guilty in this investigation.
California Governor Jerry Brown has signed into law SB 818, a bill to restore key provisions in California’s landmark “Homeowner’s Bill of Rights” (HBOR) legislation which passed in 2012 in response to the foreclosure crisis. HBOR has prevented thousands of avoidable foreclosures by requiring mortgage loan servicers to engage in timely
Real estate investor Stuart Hankin pleaded guilty today for his role in a conspiracy to rig bids, in violation of antitrust law, at online public foreclosure auctions in Florida, the Department of Justice announced. He is the first defendant to plead guilty in this conspiracy.
Mississippi real estate investor Ivan Spinner became the sixth real estate investor to plead guilty in connection with the ongoing investigation into bid rigging at public real estate foreclosure auctions in Mississippi, the Department of Justice announced.
The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally-adjusted rate of 4.63 percent of all loans outstanding at the end of the first quarter of 2018. The delinquency rate was down 54 basis points from the previous quarter, and was eight basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.
Five Real Estate Investors Sentenced for Rigging Bids at Northern California Public Foreclosure Auctions
Five real estate investors were sentenced yesterday for their role in a conspiracy to rig bids, in violation of the antitrust laws, at public real estate foreclosure auctions in Northern California,
The U.S. Environmental Protection Agency (EPA) issued its first-ever loan from the Water Infrastructure Finance and Innovation Act (WIFIA) program to King County, Washington, to help finance its Georgetown Wet Weather Treatment Station.
Home ownership is an accomplishment in itself. However, it can be difficult for first time home owners to keep up with their mortgage payments. Every years, thousands of borrowers fall behind on their payments due to unforeseen circumstances. If this ever happens to you, there might be a way to save your home through bankruptcy.
Community Newspaper Owner Oregon Lithoprint Inc. Settles Charges that It Restrained Competition in the...
Oregon Lithoprint Inc., owner of the News-Register, a twice-weekly community newspaper based in Yamhill, Oreg., has agreed to settle FTC charges that it invited a competitor to collude in an arrangement to divide the market for placement of foreclosure notices.
When you think about your dream home, it’s very rare to think about a modest house with a small yard. Since you’re just dreaming anyway, you often think about luxury residences in Montreal and in other large cities where there are plenty of convenient services and amenities. But don’t just regard these homes as mere fantasies. Perhaps there’s a way to own one at a more reasonable price. Just because they’re luxury homes, it doesn’t always mean that they’re out of your reach.
The U.S. Department of Housing and Urban Development today released the Homeowners Guide to Success as part of a public-private partnership between federal agencies and industry partners. The guide provides homeowners with information on the critical first steps to take if they are at risk of missing a mortgage payment or facing foreclosure.
Two Los Angeles-Area Managers of Foreclosure Rescue Companies Convicted for Roles in Mortgage Fraud...
A federal jury found two Los Angeles, California-area managers of foreclosure rescue companies guilty today for their roles in a foreclosure rescue scheme. Acting Assistant Attorney General John P. Cronan of the Justice Department’s Criminal Division
Home ownership is traditionally seen as the gateway into middle class life. Once you own a property, you have officially arrived. A survey carried out by House Logic found that 51% of people living in rented homes were keen to buy, which is perfectly understandable given the uncertainty of life in the private rental sector.
Justice Department Sues Northwest Trustee Services, Inc. in Bellevue, Washington, for Illegally Foreclosing on...
The U.S. Department of Justice today filed a lawsuit in U.S. District Court for the Western District of Washington, alleging that Northwest Trustee Services, Inc. (Northwest) violated the Servicemembers Civil Relief Act (SCRA). The complaint alleges that since 2010, Northwest completed foreclosures on at least 28 homes owned by servicemembers without obtaining the required court orders
The Federal Housing Administration (FHA) is extending its initial 90-day foreclosure moratorium for FHA-insured homeowners impacted by Hurricanes Harvey, Irma and Maria for an additional 90 days due to the extensive damage and continuing needs in hard-hit areas. Read FHA's letter to lenders, servicers and counseling agencies.
Ginnie Mae issued an All Participants Memorandum (APM) – PM 17-02 to Single-Family Issuers providing buyout guidance for loans impacted by Hurricane Harvey and Hurricane Irma.