Archives

Reston, Virginia, - September 2, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the Superior Court of Pennsylvania affirmed the trial court’s granting of summary judgment in favor of the foreclosing mortgage holder and rejected the appellant’s wrongful foreclosure claims

WASHINGTON, D.C. - August 29, 2014 - (RealEstateRama) -- The owner of a Florida mortgage company, seven employees of the company and two real estate developers were indicted in the Southern District of Florida in connection with an alleged $50 million mortgage fraud scheme.

Reston, Virginia, - August 28, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the United States District Court for the District of Minnesota issued rulings in three cases that are favorable to Mortgage Electronic Registration Systems, Inc. (MERS). The court held that the foreclosing entities who were the named defendants in the cases established unbroken chains of title under Minnesota law by producing mortgages in which MERS was named the original mortgagee and subsequent assignments by MERS to the foreclosing entities. The plaintiffs lacked standing to challenge the assignments by MERS and, based upon the unbroken chains of title, the foreclosures were proper.

BOSTON - August 20, 2014 - (RealEstateRama) -- Today, Undersecretary of Housing and Community Development Aaron Gornstein announced the launch of www.MyMassMortgage.org (link is external), a website developed to assist potential homebuyers purchase their first home. The website, created under the Mass Mortgage Compact announced by Governor Deval Patrick, will provide information on finding affordable and reliable state sponsored mortgage products.

WASHINGTON, D.C. - August 18, 2014 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) announced today that Freedom Mortgage Corporation, a national residential mortgage lender based in Mt. Laurel, New Jersey, will pay $104,000 to settle allegations that it discriminated against loan applicants with disabilities by requiring them to provide medical or other documentation regarding their disability.

WASHINGTON, D.C. - August 12, 2014 - (RealEstateRama) -- Reston, Virginia, August 12, 2014—MERSCORP Holdings, Inc. today announced that the Commonwealth of Massachusetts Superior Court granted summary judgment in favor of MERS in a suit challenging MERS’ authority to assign a mortgage

WASHINGTON, D.C. - August 8, 2014 - (RealEstateRama) -- The Federal Trade Commission, through an administrator, is mailing checks totaling approximately $800,000 to 1,305 consumers who fell prey to two related mortgage relief scams.

Washington, D.C. - August 8, 2014 - (RealEstateRama) -- The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) announced today that the Iowa Division of Banking, Finance Bureau (The Division) has received reaccreditation certifying that the Division maintains the highest standards and practices in state mortgage supervision as set forth by the AARMR/CSBS Mortgage Accreditation Program. This is the Bureau’s second mortgage accreditation, with the first accreditation occurring in January 2010. The Division is led by Superintendent Jim Schipper

Wasilla, Alaska - July 29, 2014 - (RealEstateRama) -- Governor Sean Parnell signed legislation today strengthening veterans’ preferences for special loans, housing and employment.

WASHINGTON, D.C. - July 28, 2014 - (RealEstateRama) -- The Consumer Financial Protection Bureau released a proposed rule to improve the Home Mortgage Disclosure Act (HMDA). In response Center for Responsible Lending president Mike Calhoun comments

WASHINGTON, D.C. - July 18, 2014 - (RealEstateRama) -- Two days after the historic Citigroup settlement, Associate Attorney General Tony West outlined the Justice Department’s approach to resolving the remaining cases related to Residential Mortgage-Backed Securities (RMBS) misconduct that contributed to the financial crisis. West declared that the department would not hesitate to bring litigation against these firms if these principles were not met

WASHINGTON, D.C. - July 15, 2014 - (RealEstateRama) -- Today, the US Department of Justice announced a $7 billion settlement with Citigroup; the financial institution will pay a record-setting $4 billion penalty for misleading investors about securities that included toxic mortgages.

Reston, Virginia, - July 15, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the United States Court of Appeals for the Tenth Circuit recently ruled in favor of Mortgage Electronic Registration Systems, Inc. (MERS) and its co-defendants, affirming MERS’ role as mortgagee as nominee for the note owner.

WASHINGTON, D.C. - July 14, 2014 - (RealEstateRama) -- Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del., issued the following statement on the Federal Housing Finance Agency’s (FHFA) draft eligibility requirements that private mortgage insurance companies would have to meet in order to insure loans sold to or guaranteed by Fannie Mae and Freddie Mac:

WASHINGTON - July 11, 2014 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the June edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. The latest data show progress among key indicators, including growing equity and a rebound in the sale of new and existing homes. While this scorecard notes positive overall trends in the housing market, officials caution that more work needs to be done as the economy recovers from the Great Recession.

WASHINGTON, D.C. - July 4, 2014 - (RealEstateRama) -- The Department of Justice today announced an agreement with SunTrust Mortgage Inc. that resolves a criminal investigation of SunTrust’s administration of the Home Affordable Modification Program (HAMP).

WASHINGTON, D.C. - June 18, 2014 - (RealEstateRama) -- The Justice Department, Department of Housing and Urban Development (HUD), and the Consumer Financial Protection Bureau (CFPB), along with 49 state attorneys general and the District of Columbia’s attorney general have reached a $968 million agreement with SunTrust Mortgage Inc. (SunTrust) to address mortgage origination, servicing, and foreclosure abuses.

Washington, DC - June 17, 2014 - (RealEstateRama) -- National Homeownership Month is the ideal time to remind Americans that owning a home represents much more than a mortgage. Tia Early, the National Foundation for Credit Counseling® (NFCC) Professional Achievement and Counseling Excellence (PACE) Housing Client of the Year, is the picture of what a mother will do to provide a home for her son, redefining perseverance along the way.

WASHINGTON, D.C. - May 29, 2014 - (RealEstateRama) -- Today the Consumer Financial Protection Bureau (CFPB) ordered RealtySouth, the largest real estate firm in Alabama, to pay $500,000 for inadequate disclosures that could leave consumers unaware of their rights to choose service providers during the home-buying process. The practices identified by the CFPB’s investigation illegally benefited TitleSouth LLC, an affiliated company owned by the same holding company that owns RealtySouth.

WASHINGTON, D.C. - May 28, 2014 - (RealEstateRama) -- The Federal Trade Commission, through an administrator, is mailing checks totaling nearly $3 million to over 6,300 consumers who were victims of a mortgage relief scheme. Using names such as Prime Legal Plans and Reaching U Network, the defendants allegedly made false promises that they could help consumers save their homes from foreclosure or lower their mortgage payments