Archives

HOUSTON, TX - July 25, 2011 - (RealEstateRama) -- Vincent Wallace Aldridge, a former fee attorney for First Southwestern Title Company, has been sentenced to 63 months’ imprisonment for wire fraud and money laundering arising from a scheme to defraud residential mortgage lenders of more than $3.7 million in loans in connection with home purchases in the Houston area, United States Attorney José Angel Moreno announced today, along with FBI Special Agent in Charge Stephen L. Morris and Internal Revenue Service-Criminal Investigations (IRS-CI) Special Agent in Charge Rodney E. Clark.

DALLAS, TX - July 25, 2011 - (RealEstateRama) -- A federal grand jury in Dallas has returned a four-count indictment this week charging three individuals, Vathany Teng, Lina Ma and Jerry Goh each with one count of conspiracy to commit bank fraud and two substantive counts of bank fraud in relation to a loan fraud scheme they allegedly ran in the Dallas area from August 2007 to April 2008. In addition, defendant Jerry Goh, a lawyer, is also charged with one count of witness tampering. All three defendants are expected to surrender to federal authorities and appear tomorrow, July 22, 2011, at 2:00 p.m., before U.S. Magistrate Judge Irma C. Ramirez. Today’s announcement was made by U.S. Attorney James T. Jacks of the Northern District of Texas.

MILFORD, CT - July 25, 2011 - (RealEstateRama) -- Total Mortgage Services, LLC, a leading mortgage lender, announced today it is aggressively hiring 50 new retail loan officers to help expand its retail channel’s market position throughout the 23 states it is currently licensed in to originate residential mortgage loans. Total Mortgage is actively recruiting high quality mortgage production professionals, offering a highly competitive compensation package and access to some of the lowest mortgage rates and best in class operational support in the industry.

WASHINGTON, D.C. - July 22, 2011 - (RealEstateRama) -- The Mortgage Bankers Association released a new, free mobile application today for iPhone and Android devices designed to help perspective homebuyers better navigate the mortgage process.

Washington, DC - July 21, 2011 - (RealEstateRama) -- Congresswoman Waters (CA), Ranking Member on the Subcommittee on Capital Markets and Government Sponsored Enterprises, today led 11 of her colleagues in the House of Representatives urging U.S. bank regulators to publicly release information regarding the steps that mortgage servicers are taking to prevent illegal foreclosure practices. An identical letter was sent by U.S. Senator Robert Menendez (NJ), Chairman of the Senate Subcommittee on Housing, Transportation, and Community Development, and nine additional Senators.

WASHINGTON, D.C. - July 21, 2011 - (RealEstateRama) -- Mortgage applications increased 15.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 15, 2011.

Kansas City, KS - July 20, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) is urging troubled homeowners to apply for the Emergency Homeowners’ Loan Program (EHLP) which could offer up to $50,000 in forgivable mortgage assistance. Only three days remain before the July 22nd deadline, so interested applicants must act quickly!

ORLANDO, FL - July 20, 2011 - (RealEstateRama) -- Florida’s existing condo sales rose 8 percent in June with a total of 7,941 units sold statewide compared to 7,330 sold in June 2010, according to the latest housing data released by Florida Realtors®. The statewide existing condo median sales price last month was $93,900; a year earlier, it was $92,300 for a 2 percent increase.

SACRAMENTO, CA - July 20, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced today the unsealing of an indictment charging seven real estate professionals with conspiracy to commit wire fraud in connection with a mortgage fraud scheme. The indictment was returned by a federal grand jury on July 14, 2011.

WASHINGTON, D.C. - July 20, 2011 - (RealEstateRama) -- A new Federal Trade Commission Rule will strengthen consumer protections by banning deceptive claims about consumer mortgages in advertising or other types of commercial communications. The Rule is designed to create a level playing field for legitimate businesses to compete in the marketplace.

La Jolla, CA. - July 19, 2011 - (RealEstateRama) -- The number of California homes that went into foreclosure fell to a four-year low last quarter, the result of a more stable housing market as well as policy changes in the mortgage servicing industry, a real estate information service reported.

Golden Valley, MN - July 18, 2011 - (RealEstateRama) -- Are you a real estate agent who would like to learn how to sell $38 million dollars in real estate this year? How would you like to eat at a private VIP dinner with a successful luxury real estate agent that has been seen on a TV show? Maybe you would just like to meet, and have your picture taken with a celebrity? Or you are interested in partying at the same location as a celebrity? Josh Altman is one of the most successful real estate agents in the Beverly Hills and Hollywood Hills luxury housing market and you probably recognize him from the hit TV show Million Dollar Listing on Bravo. Josh's clientele consists mostly of entertainers, athletes and high net worth individuals from around the world. He sold $38 million in real estate last year and currently has $150 million in listings.

Atlanta, GA - July 18, 2011 - (RealEstateRama) -- GoFightForeclosure.com today announced to declare that the vast majority of bank foreclosures are unlawful. Citing that foreclosures destroy families and communities. As a result they have decided to arm families with knowledge to fight foreclosure and win by offering up six senses to detect improper mortgage securitization.

PASADENA, CA - July 18, 2011 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), is continuing its retail expansion in Southern California with the opening of a new office in Pasadena. The office will be led by Los Angeles lending industry veteran Tami Murphy, who joins REMN as the company’s latest Branch Manager. Murphy will report directly to fellow industry veteran, Kevin Hoyt, who joined REMN as the company’s Western Regional Retail Manager earlier in April.

WASHINGTON, WA - July 15, 2011 - (RealEstateRama) -- Alexander Otis Matthews, a Virginia real estate businessman pleaded guilty today to fraud charges in connection with mortgage and investment schemes to obtain more than $12 million in fraudulent loans.

CHARLESTON, VA - July 15, 2011 - (RealEstateRama) -- West Virginia Attorney General Darrell McGraw wants to remind the state’s consumers that time is running out to take advantage of the federally funded Emergency Homeowner Loan Program.

WASHINGTON, D.C. - July 15, 2011 - (RealEstateRama) -- The National Bankers Association (N.B.A.) is teaming with a popular, nationally-syndicated radio talk show host, Warren Ballentine, to spearhead a national campaign to get minorities and other consumers in the urban areas to bank with minority banks.

WASHINGTON, D.C. - July 15, 2011 - (RealEstateRama) -- The Federal Trade Commission today issued a statement announcing that it will forbear from enforcing most provisions of its Mortgage Assistance Relief Services (MARS) Rule against real estate brokers and their agents who assist financially distressed consumers in obtaining short sales from their lenders or servicers.

Washington, D.C. - July 14, 2011 - (RealEstateRama) -- Anne Balcer Norton, Deputy Commissioner of the Maryland Office of the Commissioner of Financial Regulation, testified on behalf of the Conference of State Bank Supervisors (CSBS) before the Insurance, Housing and Community Opportunity Subcommittee of the House Financial Services Committee on mortgage origination today. Norton detailed efforts by state regulators to improve and enhance mortgage regulation to better protect consumers and to strengthen the mortgage market itself, but also to ensure a diverse mortgage industry which supports a variety of business models.

Washington, DC - July 14, 2011 - (RealEstateRama) -- Congresswoman Johnson announces that the U.S. Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks America has launched the Emergency Homeowners’ Loan Program (EHLP) to help homeowners who are at risk of foreclosure in Texas