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At the Federal Trade Commission’s request, a federal court halted a sham operation that allegedly told financially distressed homeowners it would help get their mortgages modified, but instead effectively stole their mortgage payments, leading some to foreclosure and bankruptcy. The FTC seeks to permanently stop the scheme and its participants’ illegal practices. It also filed a contempt action against one of the scheme’s principals, Brian Pacios, who is under a previous court order that prohibited him from mortgage relief activities

“We applaud the FHA for taking these significant steps to improve homeownership opportunities in neighborhoods hard hit by the foreclosure crisis. NCRC and its member organizations have advocated to the FHA for improving the number and quality of Neighborhood Stabilization Outcome (NSO) targeted loan pools. We’re pleased that the FHA listened to these concerns and adopted several of our key recommendations

Continuing to crack down on phony mortgage relief programs, a federal court has temporarily halted Los Angeles-based Wealth Educators, Inc. and its president from offering mortgage relief services at the Federal Trade Commission’s request. The agency charged the defendants with failing to provide the help they promised homeowners, while charging a hefty up-front fee. The company also told consumers to stop making their monthly mortgage payments, leading some facing the prospect of foreclosure.

In Tung Q Lam, v. JPMorgan Chase Bank NA et al, the borrower argued that Mortgage Electronic Registration System, Inc. (“MERS”) lacked authority to assign the deed of trust because MERS lost its status as agent of the promissory note holder when the note was assigned to subsequent entities.

Springboard Nonprofit Consumer Credit Management, Inc. (“Springboard”) announced that it has received more than $2.6 million in federal dollars awarded through the Congressionally funded National Foreclosure Mitigation Counseling (NFMC) Program.

The National Foundation for Credit Counseling (NFCC) is pleased to announce that it has received a grant award totaling $2.3 million from NeighborWorks® America to support foreclosure prevention efforts through its Member Agencies.

NeighborWorks America today announced that $44.8 million has been awarded to 25 state housing finance agencies (HFAs), 18 HUD-approved housing counseling intermediaries, and 68 community-based NeighborWorks organizations to provide counseling to families and individuals facing the threat of foreclosure. Although fewer new households face foreclosure than just a couple of years ago, the rate has begun to increase again, and many hundreds of thousands of homeowners remain seriously delinquent and face the prospect of foreclosure this year

The National Housing Law Project (NHLP), the National Law Center on Homelessness & Poverty (NLCHP), and the National Low Income Housing Coalition (NLIHC) applaud Senator Richard Blumenthal (D-CT) and Representative Keith Ellison (D-MN) for introducing legislation to permanently extend the Protecting Tenants at Foreclosure Act (PTFA).

WASHINGTON, D.C. - February 10, 2015 - (RealEstateRama) -- The Justice Department announced today that under its settlements with five of the nation’s largest mortgage servicers, 952 service members and their co-borrowers are eligible to receive over $123 million for non-judicial foreclosures that violated the Servicemembers Civil Relief Act (SCRA).  The five mortgage servicers are JP Morgan Chase Bank N.A. (JP Morgan Chase); Wells Fargo Bank N.A. and Wells Fargo & Co. (Wells Fargo); Citi Residential Lending Inc., Citibank, NA and CitiMortgage Inc. (Citi); GMAC Mortgage, LLC, Ally Financial Inc. and Residential Capital LLC (GMAC Mortgage); and BAC Home Loans Servicing LP formerly known as Countrywide Home Loans Servicing LP (Bank of America)

WASHINGTON, D.C. - January 21, 2015 - (RealEstateRama) -- Wow an entire day with Sue Nelson exploring step by step how to do her business from start to finish. You would be crazy to miss that opportunity, and you can bet we will be there!

BOSTON - January 20, 2015 - (RealEstateRama) -- Four national banks agreed to pay a total of $2.7 million and undertake obligations to facilitate the repair of defective property titles, resolving claims that they unlawfully foreclosed on properties in Massachusetts when they did not hold the mortgages, Attorney General Martha Coakley announced today

Reston, Virginia, - January 14, 2015 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the Court of Appeals of Tennessee at Jackson ruled that under applicable Tennessee law, MERS is a “party interested” in the foreclosure of a senior mortgage lien, and that the trustee who conducted a nonjudicial foreclosure of the senior lien was liable to MERS for damages resulting from the breach of her “affirmative duty to identify MERS as an interested party in the notice of foreclosure sale.” In reaching its decision, the Court recognized MERS’ interest in the junior lien as owner of legal title to the security interest and beneficiary of a recorded deed of trust

WASHINGTON, D.C. - December 25, 2014 - (RealEstateRama) -- A Northern California real estate investor pleaded guilty for his role in bid rigging and fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced.

DENVER - December 23, 2014 - (RealEstateRama) -- Colorado Attorney General John Suthers today announced civil law enforcement actions against foreclosure law firms Robert J. Hopp & Associates and The Hopp Law Firm, including its principal Robert Hopp and affiliated title company National Title, and The Vaden Law Firm, including its principal Wayne Vaden and affiliated title company City Park Title. The firms and their affiliated businesses are accused of inflating foreclosure costs charged to homeowners and others in violation of the Colorado Consumer Protection Act and the Colorado Fair Debt Collection Practices Act.

LANSING - December 12, 2014 - (RealEstateRama) -- The Michigan Senate unanimously passed Senate Bill 295 today, legislation sponsored by Senate Minority Floor Leader Tupac A. Hunter (D-Detroit) that is designed to improve neighborhoods and reduce blight by banning certain landowners with delinquent blight fines from bidding in county tax foreclosure auctions.

WASHINGTON, D.C. - December 11, 2014 - (RealEstateRama) -- Fannie Mae and Freddie Mac announced they plan to suspend evictions on foreclosed single-family properties nationwide during the holidays, from December 17, 2014 through January 2, 2015. Legal and administrative proceedings for evictions may continue, as well as pre-foreclosure activities, but families who are living in foreclosed homes will be allowed to remain in their homes during that time. The foreclosure moratorium applies to all foreclosed occupied single-family homes as well as properties with two to four units that have mortgages owned or guaranteed by Freddie Mac.

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

Bowling Green, KY - August 22, 2014 - (RealEstateRama) -- One of the best real estate agents in Warren County Kentucky, Greg Raymer of Raymer Real Estate Services (www.sokyhomehub.com), is helping distressed homeowners in Bowling Green, Kentucky avoid foreclosure and is making the American dream of homeownership a reality for thousands of Kentucky residents.

WASHINGTON, D.C. - August 21, 2014 - (RealEstateRama) -- The following is a statement by National Association of Realtors® President Steve Brown:

Reston, Virginia, - July 18, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the Court of Appeal of the State of California Second Appellate District affirmed the trial court’s order dismissing a wrongful foreclosure lawsuit.