Archives

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

WASHINGTON, DC - July 14, 2011 - (RealEstateRama) -- The drop in the homeownership rate from an all-time high of 69.2 percent in 2004 to 66.4 percent in the first quarter of 2011 reflects a decline from unsustainable levels to something closer to historical averages, according to a study released today by MBA's Research Institute for Housing America (RIHA). While the homeownership rate may have bottomed out, it could fall another one or two percentage points because of tightened credit and other factors, the paper says.

Washington D.C. - July 14, 2011 - (RealEstateRama) -- The deadline for homeowners to qualify for the Emergency Homeowners’ Loan Program (EHLP) is rapidly approaching with all Pre-Applicant Screening Worksheets due by Friday, July 22, 2011.The EHLP, launched by the U.S. Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks® America in June, is designed to help homeowners who are at risk of foreclosure in 27 states across the country and Puerto Rico. The program assists homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment or underemployment, due to economic conditions or a medical condition.Under EHLP guidelines eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.

WASHINGTON, D.C. - July 14, 2011 - (RealEstateRama) -- Henry V. Cunningham Jr., CMB, a member of the Mortgage Bankers Association’s (MBA) Board of Directors and Chairman of MBA’s Residential Board of Governors (RESBOG), testified today before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity at a hearing titled, “Mortgage Origination: The Impact of Recent Changes on Homeowners and Businesses.”Below is Mr. Cunningham’s oral statement before the subcommittee, as prepared for delivery.

PORTLAND, OR - July 13, 2011 - (RealEstateRama) -- Two members of an alleged drug trafficking organization were arraigned today on money laundering and marijuana trafficking charges involving the abuse of the Oregon Medical Marijuana Program (OMMP), U....

BOISE, ID - July 13, 2011 - (RealEstateRama) -- Melody C. Redondo, 33, of Meridian, Idaho, was sentenced today to 15 months in prison followed by five years of supervised release for making a false statement to a financial institution, U.S. Attorney We...

Washington, DC - July 13, 2011 - (RealEstateRama) -- National Reverse Mortgage Lenders Association applauds the announcement today by HUD Secretary Shaun Donovan that Carol Galante has been designated by President Barack Obama as the Acting FHA Commissioner and Assistant Secretary of Housing.

WASHINGTON, D.C. - July 13, 2011 - (RealEstateRama) -- On Monday, July 11, 2011, the Mortgage Bankers Association (MBA) sent the attached letter to federal regulators outlining MBA's views and recommendations from the commercial and multifamily mortgage finance perspective in response to the proposed risk retention rule under Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

WASHINGTON, D.C. - July 13, 2011 - (RealEstateRama) -- Mortgage applications decreased 5.1 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending July 8, 2011. This week's results include an adjustment to account for the Fourth of July holiday.The Market Composite Index, a measure of mortgage loan application volume, decreased 5.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 24.0 percent compared with the previous week.

River Edge, NJ - July 13, 2011 - (RealEstateRama) -- National mortgage lender, Real Estate Mortgage Network, Inc. (REMN), is bringing their retail FHA 203(k) program in-house and introducing a new initiative to better manage the experience for homeowners, home buyers, real estate agents and contractors. The recently launched REMN 203(k) Concierge Service will now support the entire 203(k) loan process with a dedicated team of REMN account managers who will be involved every step of the way, from the loan’s origination through payments made to contractors.